Deere & Co. (NYSE:DE) traded with a subtraction of -$7.59 to close at $377.14on Friday, a downside of -1.97 percent. An average of 1,279,938 shares of common stock have been traded in the last five days. There was a fall of -$2.82 in the past week, and it reached a new high 21 times over the past 12 months. The last 20 days have seen an average of 1,437,549 shares traded, while the 50-day average volume stands at 1,491,870.
DE stock has decreased by -8.74% in the last month. The company shares reached their 1-month lowest point of $376.57 on 09/29/23. With the stock rallying to its 52-week high on 07/25/23, shares of the company touched a low of $333.66 and a high of $450.00 in 52 weeks. It has reached a new high 10 times so far this year and lost -12.04% or -$50.71 in price. In spite of this, the price is down -16.19% from the 52-week high.
Insider Transactions
DE stock investors should be aware that Deere & Co. (DE) stock had its last reported insider trading activity 66 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 & Co. (DE) has a trailing price-to-earnings (P/E) ratio of 11.15, which compares with the N/A for the broader industry. The stock’s beta is 1.09. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 1.77, the price-to-book (PB) ratio at 4.71, and the price-to-cash flow ratio at 38.15.
The company has a payout ratio of 18.73%. The company’s most recent quarterly dividend payment was $1.35 a share, representing a up of 8.0% from $1.25 last year. Its latest increase dividend $0.10 reported on Wednesday August 30 2023.
Financial Health
The quick ratio of Deere & Co. for the three months ended July 30 was 0.51, and the current ratio was 0.75, indicating that the company is not able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 1.65 and a total debt to equity ratio of 2.70 for the quarter ending July 30. Its gross profit as reported stood at $17.24 billion compared to revenue of $52.58 billion.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Deere & Co.’s return on assets was 10.56%.
Earnings Surprise
For the three-month period that ended July 30, Deere & Co. had $6.61 billion in total debt. In the quarter under review, the net income was down than the previous quarter. The company posted a net income of $2.98 billion in the quarter, while revenues of $2.86 billion were grew 36.74%. The analyst consensus anticipated Deere & Co.’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 $4.76 billion. Shareholders own equity worth $288.0 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Deere & Co. (DE) price momentum. RSI 9-day as of the close on 28 September was 31.78%, suggesting the stock is Neutral, with historical volatility in this time frame at 25.95%.
As of today, DE’s price is $382.23 -0.74% or -$2.82 from its 5-day moving average. DE is currently trading -8.00% lower than its 20-day SMA and -0.58% lower than its 100-day SMA. However, the stock’s current price level is -14.01% below the SMA50 and -13.50% below the SMA200.
The stochastic %K and %D were 14.23% and 14.50%, respectively, and the average true range (ATR) was 8.81. With the 14-day stochastic at 3.86% and the average true range at 8.89, the RSI (14) stands at 35.33%. The stock has reached -4.36 on the 9-day MACD Oscillator while the 14-day reading was at -11.89.
Analyst Ratings
Canaccord Genuity downgraded Deere & Co. (NYSE: DE) to a a Hold rating in its most recent analyst report. Previously, the stock was rated as a Buy. The consensus rating for Deere & Co. (DE) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell DE, while 11 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 3 analysts, while 12 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 $510.00, with a median target of $447.90. Taking a look at these predictions, the average price target given by analysts for Deere & Co. (DE) stock is $444.26.
