Zacks Research Analysts Lower Earnings Estimates for Deere & Company (NYSE:DE)

Deere & Company (NYSE:DE - Free Report) - Equities research analysts at Zacks Research dropped their FY2024 earnings per share (EPS) estimates for Deere & Company in a research note issued on Tuesday, September 3rd. Zacks Research analyst M. Das now forecasts that the industrial products company will post earnings of $25.09 per share for the year, down from their previous estimate of $25.31. The consensus estimate for Deere & Company's current full-year earnings is $25.09 per share.

A number of other brokerages have also issued reports on DE. Truist Financial reissued a "buy" rating and issued a $443.00 target price (up previously from $439.00) on shares of Deere & Company in a research report on Friday, August 16th. JPMorgan Chase & Co. reduced their target price on shares of Deere & Company from $375.00 to $360.00 and set a "neutral" rating for the company in a report on Tuesday, August 13th. Hsbc Global Res lowered shares of Deere & Company from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 19th. Bank of America increased their price objective on shares of Deere & Company from $400.00 to $410.00 and gave the stock a "neutral" rating in a research note on Friday, August 16th. Finally, Stifel Nicolaus lifted their target price on Deere & Company from $425.00 to $450.00 and gave the company a "buy" rating in a research report on Friday, May 17th. Fourteen equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $414.11.

Deere & Company Stock Down 0.5 %

Shares of Deere & Company stock traded down $1.84 during trading on Friday, reaching $381.85. The stock had a trading volume of 1,670,316 shares, compared to its average volume of 1,536,021. The company has a current ratio of 2.07, a quick ratio of 1.87 and a debt-to-equity ratio of 1.85. The company has a market capitalization of $105.23 billion, a price-to-earnings ratio of 11.55, a P/E/G ratio of 1.28 and a beta of 0.93. The stock has a fifty day moving average price of $368.87 and a two-hundred day moving average price of $380.21. Deere & Company has a 52 week low of $340.20 and a 52 week high of $417.46.

Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.63 by $0.66. The company had revenue of $11.39 billion during the quarter, compared to the consensus estimate of $10.94 billion. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The firm's revenue was down 20.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $10.20 earnings per share.

Deere & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, September 30th will be issued a $1.47 dividend. The ex-dividend date is Monday, September 30th. This represents a $5.88 annualized dividend and a yield of 1.54%. Deere & Company's dividend payout ratio is currently 17.70%.

Insiders Place Their Bets

In other news, insider Cory J. Reed sold 13,370 shares of the stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $377.63, for a total transaction of $5,048,913.10. Following the transaction, the insider now owns 41,642 shares in the company, valued at $15,725,268.46. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.26% of the company's stock.

Institutional Investors Weigh In On Deere & Company

Institutional investors have recently modified their holdings of the business. International Assets Investment Management LLC increased its holdings in shares of Deere & Company by 15.9% during the fourth quarter. International Assets Investment Management LLC now owns 2,102 shares of the industrial products company's stock worth $841,000 after purchasing an additional 288 shares during the period. Gilbert & Cook Inc. increased its stake in Deere & Company by 5.4% during the 4th quarter. Gilbert & Cook Inc. now owns 1,978 shares of the industrial products company's stock worth $791,000 after acquiring an additional 102 shares during the period. 9258 Wealth Management LLC raised its holdings in Deere & Company by 9.8% in the 4th quarter. 9258 Wealth Management LLC now owns 1,975 shares of the industrial products company's stock valued at $790,000 after acquiring an additional 176 shares in the last quarter. Gryphon Financial Partners LLC lifted its position in shares of Deere & Company by 62.9% during the 4th quarter. Gryphon Financial Partners LLC now owns 1,430 shares of the industrial products company's stock valued at $551,000 after acquiring an additional 552 shares during the period. Finally, Wealthspire Advisors LLC grew its holdings in shares of Deere & Company by 25.0% during the 4th quarter. Wealthspire Advisors LLC now owns 1,994 shares of the industrial products company's stock worth $797,000 after purchasing an additional 399 shares in the last quarter. Institutional investors own 68.58% of the company's stock.

Deere & Company Company Profile

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.