Deere & Company (NYSE:DE) Price Target Raised to $500.00

Deere & Company (NYSE:DE) had its price objective increased by JPMorgan Chase & Co. from $470.00 to $500.00 in a research report sent to investors on Monday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the industrial products company’s stock.

Other analysts also recently issued reports about the company. Citigroup cut their price objective on Deere & Company from $470.00 to $430.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. UBS Group raised their price objective on Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Truist Financial raised their price objective on Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Jefferies Financial Group downgraded Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 target price for the company. in a research report on Friday, December 6th. Finally, Morgan Stanley lifted their target price on Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a research report on Monday, November 25th. Eleven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $446.17.

Deere & Company Stock Up 0.5 %

Shares of NYSE:DE opened at $476.53 on Monday. The business has a 50-day moving average price of $445.46 and a 200 day moving average price of $414.70. The company has a current ratio of 2.09, a quick ratio of 1.90 and a debt-to-equity ratio of 1.89. The company has a market capitalization of $129.78 billion, a price-to-earnings ratio of 18.61, a PEG ratio of 2.87 and a beta of 0.98. Deere & Company has a 12-month low of $340.20 and a 12-month high of $485.84.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.89 by $0.66. 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 company’s quarterly revenue was down 32.8% on a year-over-year basis. During the same period last year, the company earned $8.26 EPS. Sell-side analysts expect that Deere & Company will post 19.38 EPS 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 paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.36%. The ex-dividend date was Tuesday, December 31st. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s dividend payout ratio (DPR) is presently 25.31%.

Hedge Funds Weigh In On Deere & Company

Several hedge funds and other institutional investors have recently made changes to their positions in DE. Norges Bank purchased a new position in shares of Deere & Company in the 4th quarter valued at about $1,244,094,000. Wellington Management Group LLP boosted its stake in shares of 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 valued at $3,068,404,000 after buying an additional 1,782,984 shares during the period. FMR LLC boosted its stake in shares of Deere & Company by 27.8% in 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 buying an additional 988,380 shares during the period. Pathway Financial Advisers LLC lifted its stake in Deere & Company by 53,338.6% during the third quarter. Pathway Financial Advisers LLC now owns 854,484 shares of the industrial products company’s stock worth $356,602,000 after purchasing an additional 852,885 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its stake in Deere & Company by 46,892.9% during the third quarter. International Assets Investment Management LLC now owns 772,094 shares of the industrial products company’s stock worth $322,218,000 after purchasing an additional 770,451 shares during the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

About Deere & Company

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.