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

Deere & Company (NYSE:DE) had its price target boosted by JPMorgan Chase & Co. from $420.00 to $450.00 in a research note issued to investors on Friday morning,Benzinga reports. The firm currently has a neutral rating on the industrial products company’s stock.

Several other analysts have also issued reports on the stock. Barclays raised their price target on shares of Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a research report on Friday. HSBC downgraded shares of Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, August 19th. Evercore ISI lifted their price target on shares of Deere & Company from $371.00 to $378.00 and gave the company an “in-line” rating in a report on Monday, August 19th. Hsbc Global Res downgraded shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, August 19th. Finally, Citigroup boosted their target price on shares of Deere & Company from $395.00 to $420.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Thirteen equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Deere & Company presently has a consensus rating of “Hold” and an average target price of $433.00.

Deere & Company Stock Up 3.6 %

DE stock opened at $462.81 on Friday. The company has a market cap of $126.62 billion, a price-to-earnings ratio of 18.08, a PEG ratio of 1.75 and a beta of 0.93. The company has a 50 day moving average of $408.35 and a two-hundred day moving average of $386.60. The company has a quick ratio of 1.90, a current ratio of 2.09 and a debt-to-equity ratio of 1.89. Deere & Company has a 12-month low of $340.20 and a 12-month high of $469.39.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, beating analysts’ consensus estimates of $3.90 by $0.65. The business had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.20 billion. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. Deere & Company’s revenue for the quarter was down 32.8% on a year-over-year basis. During the same quarter last year, the firm earned $8.26 EPS. On average, equities analysts anticipate that Deere & Company will post 21.31 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Monday, September 30th were given a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date was Monday, September 30th. Deere & Company’s dividend payout ratio is presently 22.97%.

Institutional Trading of Deere & Company

A number of large investors have recently added to or reduced their stakes in DE. Fairscale Capital LLC bought a new position in Deere & Company during the second quarter worth about $26,000. Pineridge Advisors LLC boosted its position in Deere & Company by 725.0% during the 1st quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock worth $27,000 after buying an additional 58 shares during the period. Livelsberger Financial Advisory acquired a new stake in shares of Deere & Company during the third quarter worth $32,000. Olistico Wealth LLC acquired a new position in Deere & Company in the second quarter valued at $37,000. Finally, Centennial Bank AR boosted its position in 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 acquiring an additional 84 shares during the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

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.