Deere & Company (NYSE:DE) Price Target Lowered to $450.00 at Citigroup

Deere & Company (NYSE:DE - Free Report) had its price objective lowered by Citigroup from $480.00 to $450.00 in a report published on Tuesday morning,Benzinga reports. The brokerage currently has a neutral rating on the industrial products company's stock.

DE has been the subject of several other reports. Robert W. Baird reaffirmed a "neutral" rating and set a $501.00 price objective on shares of Deere & Company in a research report on Monday, March 3rd. StockNews.com downgraded Deere & Company from a "hold" rating to a "sell" rating in a report on Sunday, April 6th. Oppenheimer lifted their target price on shares of Deere & Company from $477.00 to $507.00 and gave the company an "outperform" rating in a report on Tuesday, January 28th. UBS Group decreased their price target on shares of Deere & Company from $462.00 to $440.00 and set a "neutral" rating for the company in a research note on Monday, April 7th. Finally, Evercore ISI lifted their price objective on shares of Deere & Company from $437.00 to $455.00 and gave the company an "in-line" rating in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $457.26.

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Deere & Company Stock Up 3.5 %

Shares of NYSE DE traded up $15.56 during mid-day trading on Tuesday, hitting $459.75. The company had a trading volume of 1,245,049 shares, compared to its average volume of 1,434,904. The company has a market capitalization of $124.78 billion, a PE ratio of 20.38, a price-to-earnings-growth ratio of 2.14 and a beta of 1.00. The business's 50-day simple moving average is $470.92 and its 200 day simple moving average is $443.29. Deere & Company has a 1-year low of $340.20 and a 1-year high of $515.05. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.22 and a quick ratio of 1.98.

Deere & Company (NYSE:DE - Get Free Report) last posted its quarterly earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.14 by $0.05. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. On average, analysts predict that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 8th. Shareholders of record on Monday, March 31st will be given a dividend of $1.62 per share. The ex-dividend date is Monday, March 31st. This represents a $6.48 annualized dividend and a yield of 1.41%. Deere & Company's payout ratio is currently 28.72%.

Insider Buying and Selling

In other news, insider Rajesh Kalathur sold 24,580 shares of Deere & Company stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $500.61, for a total transaction of $12,304,993.80. Following the completion of the transaction, the insider now owns 74,878 shares of the company's stock, valued at $37,484,675.58. The trade was a 24.71 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.29% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Deere & Company

Several hedge funds have recently added to or reduced their stakes in DE. Zacks Investment Management raised its position in shares of Deere & Company by 22.7% during the 3rd quarter. Zacks Investment Management now owns 2,235 shares of the industrial products company's stock worth $933,000 after purchasing an additional 413 shares during the last quarter. MML Investors Services LLC increased its position in Deere & Company by 6.4% during the third quarter. MML Investors Services LLC now owns 56,788 shares of the industrial products company's stock worth $23,699,000 after buying an additional 3,437 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its holdings in shares of Deere & Company by 5.1% in the third quarter. Nomura Asset Management Co. Ltd. now owns 79,478 shares of the industrial products company's stock worth $33,169,000 after acquiring an additional 3,860 shares during the last quarter. Geller Advisors LLC increased its position in Deere & Company by 6.1% during the 3rd quarter. Geller Advisors LLC now owns 770 shares of the industrial products company's stock worth $322,000 after purchasing an additional 44 shares in the last quarter. Finally, Continuum Advisory LLC raised its stake in Deere & Company by 155.8% in the 3rd quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company's stock valued at $43,000 after purchasing an additional 67 shares during the last quarter. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Company Profile

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.