Deere & Company (NYSE:DE) Stock Price Down 1.9%

Deere & Company (NYSE:DE – Get Rating) was down 1.9% during trading on Monday . The stock traded as low as $408.99 and last traded at $408.99. Approximately 2,627 shares changed hands during trading, a decline of 100% from the average daily volume of 2,248,873 shares. The stock had previously closed at $416.80.

A number of research firms have commented on DE. Deutsche Bank Aktiengesellschaft increased their price target on Deere & Company from $400.00 to $417.00 and gave the company a “hold” rating in a research note on Tuesday, February 22nd. JPMorgan Chase & Co. upgraded shares of Deere & Company from an “underweight” rating to a “neutral” rating and lifted their target price for the stock from $355.00 to $440.00 in a research note on Monday, March 28th. Wells Fargo & Company began coverage on shares of Deere & Company in a research note on Friday, March 11th. They set an “overweight” rating and a $455.00 price target on the stock. DA Davidson lifted their price objective on shares of Deere & Company from $455.00 to $480.00 in a research note on Friday. Finally, StockNews.com initiated coverage on Deere & Company in a research report on Thursday. They issued a “hold” rating on the stock. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $439.06.

The stock has a market cap of $126.53 billion, a price-to-earnings ratio of 23.10, a PEG ratio of 1.36 and a beta of 1.01. The company has a debt-to-equity ratio of 1.84, a current ratio of 2.25 and a quick ratio of 1.94. The firm has a fifty day moving average of $387.14 and a 200 day moving average of $364.65.

Deere & Company (NYSE:DE – Get Rating) last released its quarterly earnings data on Friday, February 18th. The industrial products company reported $2.92 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.28 by $0.64. Deere & Company had a net margin of 12.69% and a return on equity of 33.65%. The firm had revenue of $8.53 billion during the quarter, compared to analysts’ expectations of $8.28 billion. Deere & Company’s revenue was up 6.0% compared to the same quarter last year. During the same period last year, the business earned $3.87 earnings per share. Research analysts anticipate that Deere & Company will post 22.73 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, May 9th. Shareholders of record on Thursday, March 31st will be paid a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a yield of 1.02%. The ex-dividend date of this dividend is Wednesday, March 30th. Deere & Company’s dividend payout ratio (DPR) is presently 23.28%.

In other news, insider Rajesh Kalathur sold 32,391 shares of the company’s stock in a transaction on Monday, March 7th. The stock was sold at an average price of $400.00, for a total transaction of $12,956,400.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Pentz Markwart Von sold 18,364 shares of Deere & Company stock in a transaction on Monday, March 14th. The shares were sold at an average price of $393.00, for a total value of $7,217,052.00. The disclosure for this sale can be found here. Company insiders own 0.24% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Guidance Point Advisors LLC acquired a new stake in Deere & Company during the third quarter worth approximately $25,000. PSI Advisors LLC purchased a new position in shares of Deere & Company in the 3rd quarter valued at $30,000. Bell Investment Advisors Inc raised its stake in Deere & Company by 120.0% during the 4th quarter. Bell Investment Advisors Inc now owns 88 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 48 shares in the last quarter. First National Bank of South Miami purchased a new stake in Deere & Company in the fourth quarter valued at $34,000. Finally, Amplius Wealth Advisors LLC acquired a new position in Deere & Company in the fourth quarter valued at $34,000. Institutional investors and hedge funds own 65.28% of the company’s stock.

About Deere & Company (NYSE:DE)

Deere & Company manufactures and distributes various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides mid-size tractors, combines, cotton pickers and strippers, sugarcane harvesters, harvesting front-end equipment, sugarcane loaders, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.

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