Deere & Company (NYSE:DE) Given New $389.00 Price Target at Deutsche Bank Aktiengesellschaft

VaselineAugust 12, 2024

0 4 minutes read

Deere & Company (NYSE:DE – Free Report) had its price objective trimmed by Deutsche Bank Aktiengesellschaft from $402.00 to $389.00 in a report released on Thursday morning, Benzinga reports. The brokerage currently has a hold rating on the industrial products company’s stock.

Several other research analysts have also recently weighed in on DE. JPMorgan Chase & Co. decreased their price target on shares of Deere & Company from $385.00 to $375.00 and set a neutral rating on the stock in a report on Thursday, July 11th. TD Cowen boosted their target price on Deere & Company from $383.00 to $390.00 and gave the stock a hold rating in a research report on Friday, May 17th. Daiwa Capital Markets boosted their target price on Deere & Company from $400.00 to $420.00 and gave the stock an overweight rating in a research report on Wednesday, May 15th. Citigroup began coverage on Deere & Company in a research report on Wednesday, June 26th. They set a neutral rating and a $395.00 target price for the company. Finally, DA Davidson reduced their target price on Deere & Company from $483.00 to $465.00 and set a buy rating for the company in a research report on Monday, May 20th. Twelve equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of Hold and a consensus target price of $424.78.

Check Out Our Latest Research Report on DE

Deere & Company Price Performance

Want More Great Investing Ideas?

NYSE DE traded up $1.72 during trading hours on Thursday, hitting $347.75. The company had a trading volume of 245,458 shares, compared to its average volume of 1,522,982. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.80 and a current ratio of 2.01. The firm has a market capitalization of $95.83 billion, a price-to-earnings ratio of 10.42, a PEG ratio of 1.59 and a beta of 0.93. Deere & Company has a 52 week low of $340.20 and a 52 week high of $438.39. The firm has a 50 day simple moving average of $368.46 and a 200 day simple moving average of $381.60.

Deere & Company (NYSE:DE – Get Free Report) last released its quarterly earnings data on Thursday, May 16th. The industrial products company reported $8.53 EPS for the quarter, beating analysts’ consensus estimates of $7.86 by $0.67. The company had revenue of $13.61 billion during the quarter, compared to analyst estimates of $13.29 billion. Deere & Company had a net margin of 16.15% and a return on equity of 42.26%. Deere & Company’s revenue was down 15.4% compared to the same quarter last year. During the same period last year, the business earned $9.65 earnings per share. Equities research analysts expect that Deere & Company will post 25.41 earnings per share for the current year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 8th. Stockholders of record on Friday, June 28th were issued a dividend of $1.47 per share. The ex-dividend date was Friday, June 28th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.69%. Deere & Company’s dividend payout ratio is currently 17.70%.

Insider Transactions at Deere & Company

In other news, insider Cory J. Reed sold 13,370 shares of the stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $377.63, for a total transaction of $5,048,913.10. Following the completion of the sale, the insider now directly owns 41,642 shares in the company, valued at $15,725,268.46. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.26% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in DE. Vanguard Group Inc. lifted its position in Deere & Company by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 21,988,363 shares of the industrial products company’s stock valued at $9,031,500,000 after acquiring an additional 263,709 shares during the period. Janus Henderson Group PLC lifted its holdings in shares of Deere & Company by 0.5% during the first quarter. Janus Henderson Group PLC now owns 3,859,021 shares of the industrial products company’s stock valued at $1,585,028,000 after purchasing an additional 19,200 shares during the last quarter. Parnassus Investments LLC boosted its position in shares of Deere & Company by 22.4% in the 4th quarter. Parnassus Investments LLC now owns 3,856,171 shares of the industrial products company’s stock worth $1,541,967,000 after purchasing an additional 705,771 shares in the last quarter. Norges Bank purchased a new stake in shares of Deere & Company in the 4th quarter worth approximately $1,248,036,000. Finally, Dimensional Fund Advisors LP increased its position in Deere & Company by 15.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,146,441 shares of the industrial products company’s stock valued at $802,037,000 after buying an additional 279,627 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Company Profile

(Get Free Report)

Deere & Company engages in the manufacture and distribution of 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 large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, 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.