Deere & Company (NYSE:DE) Price Target Raised to $470.00

Deere & Company (NYSE:DE) had its price target boosted by JPMorgan Chase & Co. from $450.00 to $470.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a neutral rating on the industrial products company’s stock.

A number of other equities research analysts have also issued reports on the stock. Jefferies Financial Group lowered shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 target price on the stock. in a research note on Friday, December 6th. Truist Financial increased their price objective on shares of Deere & Company from $538.00 to $550.00 and gave the company a “buy” rating in a report on Thursday, December 19th. UBS Group raised their target price on shares of Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Barclays raised 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, November 22nd. Finally, Oppenheimer upped their price target on shares of Deere & Company from $448.00 to $477.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. Eleven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $442.83.

Deere & Company Stock Performance

NYSE:DE opened at $428.84 on Wednesday. The company has a debt-to-equity ratio of 1.89, a current ratio of 2.09 and a quick ratio of 1.90. The firm has a 50-day moving average of $429.20 and a two-hundred day moving average of $400.87. The stock has a market cap of $116.46 billion, a P/E ratio of 16.75, a PEG ratio of 1.74 and a beta of 0.98. Deere & Company has a 1-year low of $340.20 and a 1-year high of $469.39.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, beating analysts’ consensus estimates of $3.89 by $0.66. The company had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9.20 billion. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The firm’s revenue for the quarter was down 32.8% on a year-over-year basis. During the same period in the prior year, the company posted $8.26 EPS. On average, research analysts expect that Deere & Company will post 19.57 earnings per share for the current fiscal year.

Deere & Company Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st will be given a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 1.51%. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. The ex-dividend date of this dividend is Tuesday, December 31st. Deere & Company’s dividend payout ratio (DPR) is currently 25.31%.

Institutional Trading of Deere & Company

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Wellington Management Group LLP grew its position in Deere & Company by 32.0% in the 3rd quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company’s stock worth $3,068,404,000 after purchasing an additional 1,782,984 shares during the last quarter. Geode Capital Management LLC boosted 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 acquiring an additional 31,459 shares in the last quarter. FMR LLC boosted its position in shares of Deere & Company by 27.8% during the 3rd quarter. FMR LLC now owns 4,542,013 shares of the industrial products company’s stock valued at $1,895,518,000 after acquiring an additional 988,380 shares in the last quarter. Legal & General Group Plc boosted its position in shares of Deere & Company by 2.7% during the 2nd quarter. Legal & General Group Plc now owns 2,254,266 shares of the industrial products company’s stock valued at $842,259,000 after acquiring an additional 60,255 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its position in shares of Deere & Company by 8.6% during the 3rd quarter. Fisher Asset Management LLC now owns 1,994,657 shares of the industrial products company’s stock valued at $832,431,000 after acquiring an additional 158,732 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Company Profile

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.