Deere & Company (NYSE:DE) finished Wednesday with an addition of $5.63 to close at $436.09, an upside of 1.31 percent. An average of 1,154,080 shares of common stock have been traded in the last five days. There was a gain of $5.56 in the past week, and it reached a new high 17 times over the past 12 months. The last 20 days have seen an average of 1,287,135 shares traded, while the 50-day average volume stands at 1,530,244.
DE stock has increased by 5.39% in the last month. The company shares reached their 1-month lowest point of $401.93 on 07/10/23. With the stock rallying to its 52-week high on 07/25/23, shares of the company touched a low of $328.62 and a high of $450.00 in 52 weeks. It has reached a new high 10 times so far this year and achieved 1.71% or $7.33 in price. In spite of this, the price is down -3.09% from the 52-week high.
Insider Transactions
DE stock investors should be aware that Deere & Company (DE) stock had its last reported insider trading activity 16 days ago on Jul 25. In this transaction, the insider spent $2,104,830. Chairman & CEO, May John C II, disposed of 52,967 shares at a price of $416.02 on Jun 22. The insider now owns more than $22,035,545 worth of shares. Prior to that, Pres Ag & Turf, Sml Ag & Turf von Pentz Markwart went on to Sale 27,933 shares at $381.59 each on Jun 07. An amount of $10,659,039 was transacted.
Valuation Metrics
Deere & Company (DE) has a trailing price-to-earnings (P/E) ratio of 14.64. The stock’s beta is 1.07. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 2.14, the price-to-book (PB) ratio at 5.75, and the price-to-cash flow ratio at 182.09.
The company has a payout ratio of 15.10%. The company’s most recent quarterly dividend payment was $1.25 a share, without any change from last year. Its latest increase dividend $0.05 reported on Wednesday February 22 2023.
Financial Health
Further, the company has a long term debt to equity ratio of 1.59 and a total debt to equity ratio of 2.59 for the quarter ending April 29. Deere & Company’s EBITDA margin for the year ending April 29 is 22.24%, while its operating margin for the same period stands at 22.60%. Its gross profit as reported stood at $17.24 billion compared to revenue of $52.58 billion.
Earnings Surprise
For the three-month period that ended April 29, Deere & Company had $856.0 million in cash and short-term investments compared to $5.38 billion in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of $2.86 billion in the quarter, while revenues of $1.96 billion were grew 68.43%. The analyst consensus anticipated Deere & Company’s latest quarter earnings to come in at $8.59 per share, but it turned out to be $9.65, a 12.30% surprise. For the quarter, EBITDA amounted to $4.92 billion. Shareholders own equity worth $293.19 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Deere & Company (DE) price momentum. RSI 9-day as of the close on 09 August was 61.33%, suggesting the stock is Neutral, with historical volatility in this time frame at 15.23%.
As of today, DE’s price is $429.17 +1.29% or $5.56 from its 5-day moving average. DE is currently trading +6.97% higher than its 20-day SMA and +11.50% higher than its 100-day SMA. However, the stock’s current price level is +22.08% above the SMA50 and +19.31% above the SMA200.
The stochastic %K and %D were 39.57% and 29.90%, respectively, and the average true range (ATR) was 8.19. With the 14-day stochastic at 51.63% and the average true range at 8.28, the RSI (14) stands at 60.90%. The stock has reached 3.01 on the 9-day MACD Oscillator while the 14-day reading was at 0.20.
Analyst Ratings
Canaccord Genuity launched coverage on Deere & Company (NYSE: DE) in its analyst report released on June 28, 2023. The firm assigned the stock a Buy rating. The consensus rating for Deere & Company (DE) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell DE, while 8 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 4 analysts, while 14 others rate it as a “buy”.
What is DE’s price target for the next 12 months?
Analysts predict a range of price targets between $367.00 and $560.00, with a median target of $461.00. Taking a look at these predictions, the average price target given by analysts for Deere & Company (DE) stock is $455.36.
