Deere & Company (NYSE:DE) Price Target Raised to $450.00

Deere & Company (NYSE:DE) had its target price upped by JPMorgan Chase & Co. from $420.00 to $450.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a neutral rating on the industrial products company’s stock.

Other research analysts have also issued reports about the company. Evercore ISI lifted their target price on Deere & Company from $371.00 to $378.00 and gave the company an “in-line” rating in a report on Monday, August 19th. Barclays lifted their price objective on Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a research note on Friday. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a report on Thursday, August 8th. BMO Capital Markets started coverage on shares of Deere & Company in a report on Friday, August 9th. They set a “market perform” rating and a $400.00 price target for the company. Finally, Truist Financial raised their price objective on shares of Deere & Company from $443.00 to $496.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Thirteen research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Deere & Company has an average rating of “Hold” and a consensus target price of $431.61.

Deere & Company Stock Performance

NYSE DE opened at $446.65 on Friday. The company has a market cap of $122.20 billion, a P/E ratio of 17.45, a P/E/G ratio of 1.70 and a beta of 0.93. Deere & Company has a 1-year low of $340.20 and a 1-year high of $447.50. The company has a debt-to-equity ratio of 1.89, a current ratio of 2.09 and a quick ratio of 1.87. The stock has a 50-day moving average of $406.99 and a two-hundred day moving average of $386.22.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, topping the consensus estimate of $3.90 by $0.65. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The firm had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.20 billion. During the same period in the prior year, the firm earned $8.26 EPS. The firm’s revenue for the quarter was down 32.8% on a year-over-year basis. As a group, analysts anticipate that Deere & Company will post 21.41 EPS for the current year.

Deere & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Monday, September 30th were given a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a yield of 1.32%. The ex-dividend date of this dividend was Monday, September 30th. Deere & Company’s payout ratio is currently 22.97%.

Institutional Investors Weigh In On Deere & Company

A number of institutional investors and hedge funds have recently made changes to their positions in DE. Mattern Wealth Management LLC raised its stake in Deere & Company by 1.3% during the 3rd quarter. Mattern Wealth Management LLC now owns 1,884 shares of the industrial products company’s stock valued at $786,000 after acquiring an additional 25 shares during the last quarter. Carret Asset Management LLC raised its stake in shares of Deere & Company by 0.3% during the third quarter. Carret Asset Management LLC now owns 8,148 shares of the industrial products company’s stock worth $3,401,000 after purchasing an additional 25 shares during the last quarter. Round Rock Advisors LLC lifted its holdings in shares of Deere & Company by 2.0% during the third quarter. Round Rock Advisors LLC now owns 1,252 shares of the industrial products company’s stock worth $522,000 after purchasing an additional 25 shares during the period. Centaurus Financial Inc. increased its stake in Deere & Company by 2.3% in the 2nd quarter. Centaurus Financial Inc. now owns 1,160 shares of the industrial products company’s stock valued at $433,000 after buying an additional 26 shares during the period. Finally, Cornell Pochily Investment Advisors Inc. raised its position in Deere & Company by 0.7% during the 3rd quarter. Cornell Pochily Investment Advisors Inc. now owns 3,495 shares of the industrial products company’s stock worth $1,459,000 after buying an additional 26 shares during the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

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.