Deere & Company (NYSE:DE) Price Target Raised to $450.00

Deere & Company (NYSE:DE) had its price objective boosted by JPMorgan Chase & Co. from $420.00 to $450.00 in a research note issued to investors on Friday morning,Benzinga reports. JPMorgan Chase & Co. 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 DE. Morgan Stanley lowered their target price on shares of Deere & Company from $450.00 to $425.00 and set an “overweight” rating on the stock in a report on Monday, August 26th. Citigroup boosted their price objective on Deere & Company from $395.00 to $420.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Evercore ISI raised their target price on Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a research note on Monday, August 19th. Deutsche Bank Aktiengesellschaft decreased their price target on Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a research report on Thursday, August 8th. Finally, Hsbc Global Res lowered shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 19th. Thirteen research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $431.61.

Deere & Company Stock Up 2.1 %

DE stock opened at $446.65 on Friday. The stock has a fifty day moving average of $406.99 and a 200-day moving average of $386.49. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $447.50. The company has a market capitalization of $122.20 billion, a price-to-earnings ratio of 17.45, a PEG ratio of 1.70 and a beta of 0.93. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.87 and a current ratio of 2.09.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, topping analysts’ consensus estimates of $3.90 by $0.65. The firm had revenue of $9.28 billion during the quarter, compared to analyst estimates of $9.20 billion. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The company’s quarterly revenue was down 32.8% on a year-over-year basis. During the same quarter last year, the business earned $8.26 earnings per share. As a group, equities research analysts predict that Deere & Company will post 21.41 earnings per share for the current year.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Monday, September 30th were given a dividend of $1.47 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $5.88 annualized dividend and a dividend yield of 1.32%. Deere & Company’s dividend payout ratio (DPR) is presently 22.97%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in DE. Fairscale Capital LLC purchased a new stake in shares of Deere & Company in the 2nd quarter valued at $26,000. Pineridge Advisors LLC lifted 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 worth $27,000 after purchasing an additional 58 shares during the last quarter. Livelsberger Financial Advisory purchased a new stake in Deere & Company during the third quarter valued at about $32,000. Olistico Wealth LLC purchased a new stake in Deere & Company during the second quarter valued at about $37,000. Finally, Centennial Bank AR grew its stake in shares of Deere & Company by 420.0% during the second quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock valued at $39,000 after buying an additional 84 shares during the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

About Deere & Company

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.