Deere & Company (NYSE:DE) Price Target Raised to $462.00 at UBS Group

Deere & Company (NYSE:DE) had its price target increased by UBS Group from $404.00 to $462.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a neutral rating on the industrial products company’s stock.

A number of other research firms have also recently commented on DE. Oppenheimer upped their price objective on Deere & Company from $448.00 to $477.00 and gave the company an “outperform” rating in a research report on Friday. BMO Capital Markets began coverage on Deere & Company in a research report on Friday, August 9th. They issued a “market perform” rating and a $400.00 price target for the company. Morgan Stanley reduced their price target on Deere & Company from $450.00 to $425.00 and set an “overweight” rating for the company in a research report on Monday, August 26th. Deutsche Bank Aktiengesellschaft reduced their price target on Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a research report on Thursday, August 8th. Finally, Bank of America upped their price target on Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a research report on Friday, August 16th. Thirteen equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Deere & Company presently has a consensus rating of “Hold” and an average price target of $433.00.

Deere & Company Trading Up 3.6 %

Deere & Company stock opened at $462.81 on Friday. 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 business’s fifty day simple moving average is $408.35 and its two-hundred day simple moving average is $386.60. Deere & Company has a 12 month low of $340.20 and a 12 month high of $469.39. The company has a market capitalization of $126.62 billion, a price-to-earnings ratio of 18.08, a price-to-earnings-growth ratio of 1.75 and a beta of 0.93.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.90 by $0.65. The firm had revenue of $9.28 billion for 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 in the prior year, the company posted $8.26 earnings per share. As a group, equities analysts predict that Deere & Company will post 21.31 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

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

Institutional Investors Weigh In On Deere & Company

Institutional investors and hedge funds have recently modified their holdings of the business. 1832 Asset Management L.P. increased its holdings in Deere & Company by 67.3% during the 1st quarter. 1832 Asset Management L.P. now owns 3,313 shares of the industrial products company’s stock worth $1,361,000 after purchasing an additional 1,333 shares during the period. BOKF NA increased its holdings in Deere & Company by 3.2% during the 1st quarter. BOKF NA now owns 10,316 shares of the industrial products company’s stock worth $4,169,000 after purchasing an additional 320 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Deere & Company by 8.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,470,159 shares of the industrial products company’s stock worth $603,854,000 after purchasing an additional 114,116 shares during the period. Aristides Capital LLC purchased a new position in Deere & Company during the 1st quarter worth $205,000. Finally, Mount Yale Investment Advisors LLC increased its holdings in Deere & Company by 43.1% during the 1st quarter. Mount Yale Investment Advisors LLC now owns 1,965 shares of the industrial products company’s stock worth $807,000 after purchasing an additional 592 shares during the period. 68.58% of the stock is owned by institutional investors.

Deere & Company Company Profile

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.