Deere & Company (NYSE:DE) Price Target Lowered to $520.00 at Wolfe Research

Deere & Company (NYSE:DE) had its target price decreased by Wolfe Research from $550.00 to $520.00 in a research report sent to investors on Friday morning,MarketScreener reports. Wolfe Research currently has an outperform rating on the industrial products company’s stock.

DE has been the topic of a number of other research reports. Truist Financial dropped their price target on Deere & Company from $619.00 to $602.00 and set a “buy” rating on the stock in a research report on Friday, August 15th. JPMorgan Chase & Co. dropped their price target on Deere & Company from $500.00 to $495.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 2nd. Daiwa Capital Markets dropped their price target on Deere & Company from $565.00 to $530.00 and set an “outperform” rating on the stock in a research report on Thursday, September 25th. DA Davidson dropped their price target on Deere & Company from $595.00 to $580.00 and set a “buy” rating on the stock in a research report on Monday, August 18th. Finally, Melius Research raised Deere & Company from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 6th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $518.18.

Deere & Company Price Performance

Shares of DE opened at $462.59 on Friday. The company has a current ratio of 2.19, a quick ratio of 1.98 and a debt-to-equity ratio of 1.76. Deere & Company has a 1 year low of $387.03 and a 1 year high of $533.78. The stock has a market cap of $125.05 billion, a P/E ratio of 24.18, a price-to-earnings-growth ratio of 2.97 and a beta of 1.02. The stock’s 50-day moving average price is $484.64 and its two-hundred day moving average price is $489.09.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.62 by $0.13. The firm had revenue of $10.36 billion for the quarter, compared to analysts’ expectations of $10.33 billion. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The company’s revenue was down 9.0% compared to the same quarter last year. During the same quarter last year, the business earned $6.29 earnings per share. On average, equities analysts predict that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Tuesday, September 30th will be paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Tuesday, September 30th. Deere & Company’s dividend payout ratio (DPR) is currently 33.87%.

Hedge Funds Weigh In On Deere & Company

Several hedge funds have recently made changes to their positions in the business. Mid American Wealth Advisory Group Inc. acquired a new position in shares of Deere & Company during the 2nd quarter worth approximately $25,000. Howard Hughes Medical Institute acquired a new position in shares of Deere & Company during the 2nd quarter worth approximately $27,000. Activest Wealth Management increased its position in shares of Deere & Company by 2,750.0% during the 1st quarter. Activest Wealth Management now owns 57 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 55 shares during the last quarter. Hughes Financial Services LLC acquired a new position in shares of Deere & Company during the 1st quarter worth approximately $29,000. Finally, Cornerstone Planning Group LLC increased its position in shares of Deere & Company by 116.1% during the 1st quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 36 shares during the last quarter. 68.58% of the stock is owned by institutional investors.

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.