Robert W. Baird set a $178.00 price objective on Deere & Company (NYSE:DE) in a report released on Wednesday morning, TipRanks reports. The brokerage currently has a buy rating on the industrial products company’s stock.
Several other equities research analysts also recently weighed in on the company. Barclays reissued a buy rating and issued a $167.00 price objective on shares of Deere & Company in a report on Monday, July 15th. Stephens initiated coverage on Deere & Company in a report on Wednesday, August 14th. They issued an equal weight rating and a $160.00 price objective for the company. UBS Group decreased their price objective on Deere & Company from $167.00 to $160.00 and set a neutral rating for the company in a report on Monday, August 19th. Jefferies Financial Group raised Deere & Company from a hold rating to a buy rating and increased their price objective for the company from $150.00 to $190.00 in a report on Monday, June 24th. Finally, Morgan Stanley upped their price target on Deere & Company from $177.00 to $180.00 and gave the stock an overweight rating in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have issued a buy rating to the company. The stock presently has an average rating of Hold and an average price target of $168.53.
DE stock opened at $170.95 on Wednesday. The company has a market capitalization of $52.40 billion, a P/E ratio of 16.53, a PEG ratio of 2.50 and a beta of 1.16. Deere & Company has a twelve month low of $128.32 and a twelve month high of $173.26. The business has a 50 day simple moving average of $161.03 and a 200-day simple moving average of $158.25. The company has a current ratio of 1.99, a quick ratio of 1.73 and a debt-to-equity ratio of 2.38.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Monday, September 30th will be paid a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 1.78%. The ex-dividend date is Friday, September 27th. Deere & Company’s dividend payout ratio (DPR) is presently 32.37%.
In other news, COO John C. May II sold 5,228 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $170.00, for a total transaction of $888,760.00. Following the completion of the sale, the chief operating officer now owns 49,310 shares in the company, valued at $8,382,700. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.71% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in DE. Nuveen Asset Management LLC raised its position in Deere & Company by 20,513.8% in the second quarter. Nuveen Asset Management LLC now owns 3,147,721 shares of the industrial products company’s stock worth $521,609,000 after acquiring an additional 3,132,451 shares in the last quarter. Parnassus Investments CA purchased a new position in Deere & Company in the second quarter worth $392,652,000. FMR LLC raised its position in Deere & Company by 13.6% in the first quarter. FMR LLC now owns 8,713,051 shares of the industrial products company’s stock worth $1,392,694,000 after acquiring an additional 1,043,039 shares in the last quarter. Rockefeller Capital Management L.P. raised its position in Deere & Company by 42,214.9% in the second quarter. Rockefeller Capital Management L.P. now owns 431,612 shares of the industrial products company’s stock worth $71,523,000 after acquiring an additional 430,592 shares in the last quarter. Finally, Thoroughbred Financial Services LLC raised its position in Deere & Company by 16,471.0% in the second quarter. Thoroughbred Financial Services LLC now owns 296,289 shares of the industrial products company’s stock worth $29,629,000 after acquiring an additional 294,501 shares in the last quarter. Hedge funds and other institutional investors own 67.53% of the company’s stock.
About Deere & Company
Deere & Company manufactures and distributes various equipment worldwide. The company operates through three segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment offers agriculture and turf equipment, and related parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; and tillage, seeding, and application equipment.
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