Morgan Stanley Issues Positive Forecast for Deere & Company (NYSE:DE) Stock Price

Deere & Company (NYSE:DE) had its price objective increased by Morgan Stanley from $401.00 to $450.00 in a report published on Monday morning,Benzinga reports. They currently have an overweight rating on the industrial products company’s stock.

Other research analysts have also issued research reports about the company. BMO Capital Markets began coverage on Deere & Company in a research report on Friday, August 9th. They set a “market perform” rating and a $400.00 price target for the company. Barclays raised their price target on Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a research note on Friday. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a report on Thursday, August 8th. Citigroup lifted their target price on shares of Deere & Company from $395.00 to $420.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Finally, Hsbc Global Res downgraded shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 19th. Thirteen investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, Deere & Company currently has an average rating of “Hold” and a consensus target price of $433.00.

Deere & Company Stock Up 3.6 %

Shares of Deere & Company stock opened at $462.81 on Monday. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.90 and a current ratio of 2.09. Deere & Company has a 52-week low of $340.20 and a 52-week high of $469.39. The company’s 50 day moving average price is $408.35 and its 200-day moving average price is $386.60. The stock has a market capitalization of $126.62 billion, a price-to-earnings ratio of 18.08, a P/E/G ratio of 1.75 and a beta of 0.93.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.90 by $0.65. The business had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.20 billion. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The company’s revenue was down 32.8% on a year-over-year basis. During the same quarter last year, the firm earned $8.26 EPS. Equities research analysts forecast that Deere & Company will post 21.31 EPS for the current year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Monday, September 30th were issued a dividend of $1.47 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $5.88 annualized dividend and a dividend yield of 1.27%. Deere & Company’s payout ratio is 22.97%.

Institutional Investors Weigh In On Deere & Company

A number of large investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP increased its position in Deere & Company by 32.0% during the third quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company’s stock valued at $3,068,404,000 after acquiring an additional 1,782,984 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Deere & Company by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 5,208,368 shares of the industrial products company’s stock valued at $2,168,737,000 after purchasing an additional 31,459 shares during the last quarter. FMR LLC lifted its stake in shares of Deere & Company by 27.8% in the 3rd quarter. FMR LLC now owns 4,542,013 shares of the industrial products company’s stock worth $1,895,518,000 after purchasing an additional 988,380 shares during the period. Legal & General Group Plc boosted its holdings in shares of Deere & Company by 2.7% in the second quarter. Legal & General Group Plc now owns 2,254,266 shares of the industrial products company’s stock worth $842,259,000 after buying an additional 60,255 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Deere & Company by 15.0% during the second quarter. Dimensional Fund Advisors LP now owns 2,146,441 shares of the industrial products company’s stock valued at $802,037,000 after buying an additional 279,627 shares during the period. Institutional investors own 68.58% of the company’s stock.

About Deere & Company

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.