Deere & Company (NYSE:DE) Given New $455.00 Price Target at Evercore ISI

Deere & Company (NYSE:DE) had its price target increased by Evercore ISI from $437.00 to $455.00 in a report published on Wednesday,Benzinga reports. Evercore ISI currently has an in-line rating on the industrial products company’s stock.

A number of other research firms have also weighed in on DE. Citigroup lifted their price objective on shares of Deere & Company from $430.00 to $480.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. Truist Financial reiterated a “buy” rating and issued a $546.00 price objective (down from $550.00) on shares of Deere & Company in a research note on Friday, February 14th. Jefferies Financial Group lowered shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price objective for the company. in a research note on Friday, December 6th. Morgan Stanley lifted their price objective on shares of Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a research note on Monday, November 25th. Finally, Barclays lifted their price objective on shares of Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Eleven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $454.65.

Deere & Company Trading Up 1.6 %

Shares of DE stock opened at $509.54 on Wednesday. The company has a 50 day moving average of $449.95 and a 200-day moving average of $419.37. The company has a quick ratio of 1.98, a current ratio of 2.22 and a debt-to-equity ratio of 1.94. Deere & Company has a 12-month low of $340.20 and a 12-month high of $515.05. The firm has a market cap of $138.77 billion, a P/E ratio of 22.59, a PEG ratio of 2.96 and a beta of 0.98.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.14 by $0.05. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. Sell-side analysts anticipate that Deere & Company will post 19.35 earnings per share for the current year.

Deere & Company Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st were issued a dividend of $1.62 per share. This is an increase from Deere & Company’s previous quarterly dividend of $1.47. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date of this dividend was Tuesday, December 31st. Deere & Company’s payout ratio is currently 28.72%.

Insider Transactions at Deere & Company

In related news, insider Rajesh Kalathur sold 24,580 shares of Deere & Company stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $500.61, for a total value of $12,304,993.80. Following the transaction, the insider now owns 74,878 shares in the company, valued at $37,484,675.58. This trade represents a 24.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.29% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Deere & Company

A number of large investors have recently added to or reduced their stakes in DE. Norges Bank purchased a new position in Deere & Company in the 4th quarter worth $1,244,094,000. Wellington Management Group LLP increased its position in shares of Deere & Company by 32.0% in 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 period. Castlekeep Investment Advisors LLC purchased a new position in shares of Deere & Company in the fourth quarter valued at about $541,437,000. Price T Rowe Associates Inc. MD increased its position in shares of Deere & Company by 19.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,589,760 shares of the industrial products company’s stock valued at $2,792,082,000 after acquiring an additional 1,095,736 shares during the period. Finally, FMR LLC increased its position in shares of Deere & Company by 22.9% in the fourth quarter. FMR LLC now owns 5,581,408 shares of the industrial products company’s stock valued at $2,364,843,000 after acquiring an additional 1,039,395 shares during the period. Hedge funds and other institutional investors own 68.58% of the company’s stock.

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.