Truist Financial Boosts Deere & Company (NYSE:DE) Price Target to $538.00

Deere & Company (NYSE:DE) had its price objective boosted by Truist Financial from $496.00 to $538.00 in a research report report published on Friday morning,Benzinga reports. Truist Financial currently has a buy rating on the industrial products company’s stock.

Several other research firms also recently weighed in on DE. Oppenheimer lifted their price objective on Deere & Company from $448.00 to $477.00 and gave the company an “outperform” rating in a report on Friday. Deutsche Bank Aktiengesellschaft decreased their price objective on Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a report on Thursday, August 8th. HSBC downgraded Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, August 19th. Hsbc Global Res downgraded shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, August 19th. Finally, Barclays boosted their target price on shares of Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a report on Friday. Thirteen analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $433.00.

Deere & Company Stock Up 3.6 %

NYSE:DE opened at $462.81 on Friday. Deere & Company has a twelve month low of $340.20 and a twelve month high of $469.39. The company has a market cap of $126.62 billion, a price-to-earnings ratio of 18.08, a price-to-earnings-growth ratio of 1.75 and a beta of 0.93. The stock has a fifty day simple moving average of $408.35 and a 200-day simple moving average of $386.60. The company has a current ratio of 2.09, a quick ratio of 1.90 and a debt-to-equity ratio of 1.89.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, beating the consensus estimate of $3.90 by $0.65. The firm had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.20 billion. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The firm’s quarterly revenue was down 32.8% on a year-over-year basis. During the same period in the previous year, the company posted $8.26 earnings per share. Analysts anticipate that Deere & Company will post 21.31 EPS for the current year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Monday, September 30th were given a $1.47 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a yield of 1.27%. Deere & Company’s dividend payout ratio is currently 22.97%.

Institutional Investors Weigh In On Deere & Company

A number of large investors have recently bought and sold shares of DE. Fairscale Capital LLC purchased a new stake in Deere & Company in the second quarter valued at approximately $26,000. Pineridge Advisors LLC lifted its holdings in Deere & Company by 725.0% in the first quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 58 shares during the period. Livelsberger Financial Advisory acquired a new position in Deere & Company in the third quarter valued at approximately $32,000. Olistico Wealth LLC acquired a new position in Deere & Company in the second quarter valued at approximately $37,000. Finally, Centennial Bank AR lifted its holdings in Deere & Company by 420.0% in the second quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 84 shares during the period. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Company Profile

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.