Deere & Company (NYSE:DE) finished Wednesday with an addition of $9.07 to close at $394.28, an upside of 2.35 percent. An average of 2,435,660 shares of common stock have been traded in the last five days. There was a fall of -$29.66 in the past week, and it reached a new high 13 times over the past 12 months. The last 20 days have seen an average of 1,574,575 shares traded, while the 50-day average volume stands at 1,516,256.
DE stock has decreased by -11.66% in the last month. The company shares reached their 1-month lowest point of $384.24 on 08/22/23. 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 lost -8.04% or -$34.48 in price. In spite of this, the price is down -12.38% 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 30 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 13.23. The stock’s beta is 1.09. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 2.05, the price-to-book (PB) ratio at 5.20, and the price-to-cash flow ratio at 61.33.
The company has a payout ratio of 16.10%. 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 July 30. Deere & Company’s EBITDA margin for the year ending July 30 is 22.24%, while its operating margin for the same period stands at 19.20%. 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 July 30, Deere & Company had $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 26.64%. The analyst consensus anticipated Deere & Company’s latest quarter earnings to come in at $8.2 per share, but it turned out to be $10.2, a 24.40% 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 23 August was 30.23%, suggesting the stock is Neutral, with historical volatility in this time frame at 30.36%.
As of today, DE’s price is $397.29 -7.00% or -$29.66 from its 5-day moving average. DE is currently trading -8.93% lower than its 20-day SMA and -2.33% lower than its 100-day SMA. However, the stock’s current price level is +1.85% above the SMA50 and +0.17% above the SMA200.
The stochastic %K and %D were 9.56% and 7.74%, respectively, and the average true range (ATR) was 10.09. With the 14-day stochastic at 17.54% and the average true range at 9.55, the RSI (14) stands at 35.09%. The stock has reached -22.66 on the 9-day MACD Oscillator while the 14-day reading was at -29.28.
Analyst Ratings
Stifel reiterated its a Buy rating on Deere & Company (NYSE: DE), but raised their price target to $493, indicating a potential price increase of 20.02% for the stock. 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 9 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 3 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 $380.00 and $551.00, with a median target of $455.50. Taking a look at these predictions, the average price target given by analysts for Deere & Company (DE) stock is $452.95.
