JPMorgan Chase & Co. Boosts Deere & Company (NYSE:DE) Price Target to $420.00

Deere & Company (NYSE:DE) had its price objective upped by JPMorgan Chase & Co. from $360.00 to $420.00 in a research note released on Friday, 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 recently issued reports on the stock. BMO Capital Markets assumed 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. Hsbc Global Res cut shares of Deere & Company from a strong-buy rating to a hold rating in a report on Monday, August 19th. Oppenheimer decreased their price target on shares of Deere & Company from $465.00 to $448.00 and set an outperform rating for the company in a report on Monday, July 22nd. Citigroup upped their price target on shares of Deere & Company from $395.00 to $420.00 and gave the company a neutral rating in a report on Wednesday, October 9th. Finally, HSBC cut shares of Deere & Company from a buy rating to a hold rating in a report on Monday, August 19th. Twelve investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Hold and an average price target of $420.69.

Deere & Company Trading Up 1.3 %

NYSE DE opened at $411.08 on Friday. Deere & Company has a 1-year low of $340.20 and a 1-year high of $420.47. The company has a current ratio of 2.07, a quick ratio of 1.87 and a debt-to-equity ratio of 1.85. The company has a market capitalization of $113.28 billion, a PE ratio of 12.37, a price-to-earnings-growth ratio of 1.35 and a beta of 0.92. The firm’s fifty day simple moving average is $387.01 and its 200-day simple moving average is $385.27.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, topping the consensus estimate of $5.63 by $0.66. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The firm had revenue of $11.39 billion for the quarter, compared to the consensus estimate of $10.94 billion. During the same period in the prior year, the business posted $10.20 earnings per share. The business’s quarterly revenue was down 20.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Deere & Company will post 25.03 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, September 30th will be paid a $1.47 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a yield of 1.43%. Deere & Company’s payout ratio is presently 17.70%.

Hedge Funds Weigh In On Deere & Company

Hedge funds and other institutional investors have recently bought and sold shares of the business. Pineridge Advisors LLC boosted its stake 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 last quarter. Fairscale Capital LLC bought a new position in Deere & Company in the second quarter valued at approximately $26,000. Livelsberger Financial Advisory bought a new position in Deere & Company in the fourth quarter valued at approximately $30,000. Spartan Planning & Wealth Management bought a new position in Deere & Company in the fourth quarter valued at approximately $33,000. Finally, Olistico Wealth LLC bought a new position in Deere & Company in the second quarter valued at approximately $37,000. 68.58% of the stock is owned by institutional investors.

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.