Deere & Company (NYSE:DE) Price Target Raised to $538.00

Deere & Company (NYSE:DE) had its price objective upped by Truist Financial from $496.00 to $538.00 in a research note released on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the industrial products company’s stock.

Other equities research analysts also recently issued reports about the stock. BMO Capital Markets initiated coverage on shares of Deere & Company in a research note on Friday, August 9th. They issued a “market perform” rating and a $400.00 price target on the stock. JPMorgan Chase & Co. upped their price target on Deere & Company from $420.00 to $450.00 and gave the stock a “neutral” rating in a research note on Friday. Deutsche Bank Aktiengesellschaft lowered 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. Evercore ISI boosted their price objective on Deere & Company from $371.00 to $378.00 and gave the company an “in-line” rating in a report on Monday, August 19th. Finally, Barclays raised their target price on Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a report on Friday. Thirteen research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $431.61.

Deere & Company Trading Up 2.1 %

DE opened at $446.65 on Friday. The stock has a market capitalization of $122.20 billion, a PE ratio of 17.45, a P/E/G ratio of 1.70 and a beta of 0.93. Deere & Company has a one year low of $340.20 and a one year high of $447.50. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.87 and a current ratio of 2.09. The business’s 50 day moving average price is $406.99 and its 200 day moving average price is $386.22.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, beating the consensus estimate of $3.90 by $0.65. The business had revenue of $9.28 billion for the quarter, compared to analyst estimates 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 quarter in the prior year, the company posted $8.26 EPS. As a group, equities research analysts expect that Deere & Company will post 21.41 EPS for the current year.

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Monday, September 30th were paid a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date of this dividend was Monday, September 30th. Deere & Company’s dividend payout ratio is presently 22.97%.

Institutional Investors Weigh In On Deere & Company

Several institutional investors have recently added to or reduced their stakes in the business. Oppenheimer Asset Management Inc. grew its holdings in shares of Deere & Company by 20.5% during the second quarter. Oppenheimer Asset Management Inc. now owns 15,808 shares of the industrial products company’s stock worth $5,906,000 after purchasing an additional 2,692 shares during the last quarter. Chase Investment Counsel Corp boosted its holdings in shares of Deere & Company by 53.8% in the third quarter. Chase Investment Counsel Corp now owns 4,000 shares of the industrial products company’s stock valued at $1,669,000 after acquiring an additional 1,400 shares during the period. Balentine LLC purchased a new position in shares of Deere & Company during the third quarter worth approximately $710,000. Royal Fund Management LLC increased its holdings in shares of Deere & Company by 99.8% in the 3rd quarter. Royal Fund Management LLC now owns 6,454 shares of the industrial products company’s stock valued at $2,694,000 after acquiring an additional 3,223 shares during the period. Finally, New Century Financial Group LLC acquired a new stake in Deere & Company during the 3rd quarter worth $1,052,000. Hedge funds and other institutional investors 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.