JPMorgan Chase & Co. Increases Deere & Company (NYSE:DE) Price Target to $425.00

Deere & Company (NYSE:DE) had its target price upped by JPMorgan Chase & Co. from $415.00 to $425.00 in a research note published on Friday morning, Benzinga reports. The brokerage currently has a neutral rating on the industrial products company’s stock.

DE has been the subject of a number of other reports. Wells Fargo & Company dropped their price target on Deere & Company from $445.00 to $425.00 and set an overweight rating for the company in a research note on Friday, February 16th. Morgan Stanley initiated coverage on Deere & Company in a research note on Monday, January 8th. They set an overweight rating and a $430.00 price target for the company. Deutsche Bank Aktiengesellschaft dropped their price target on Deere & Company from $425.00 to $401.00 and set a hold rating for the company in a research note on Friday, February 16th. Truist Financial initiated coverage on Deere & Company in a research note on Thursday, March 14th. They set a buy rating and a $494.00 price target for the company. Finally, Stifel Nicolaus dropped their price target on Deere & Company from $435.00 to $425.00 and set a buy rating for the company in a research note on Friday, February 16th. Ten equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of Hold and a consensus target price of $433.28.

Deere & Company Stock Performance

NYSE DE opened at $393.80 on Friday. The firm has a market cap of $109.62 billion, a price-to-earnings ratio of 11.47, a price-to-earnings-growth ratio of 1.49 and a beta of 1.04. The company has a quick ratio of 1.81, a current ratio of 2.05 and a debt-to-equity ratio of 1.81. The business has a 50-day moving average price of $384.87 and a 200-day moving average price of $382.45. Deere & Company has a twelve month low of $345.55 and a twelve month high of $450.00.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, February 15th. The industrial products company reported $6.23 earnings per share for the quarter, topping analysts’ consensus estimates of $5.19 by $1.04. The firm had revenue of $10.49 billion during the quarter, compared to analyst estimates of $10.30 billion. Deere & Company had a return on equity of 44.60% and a net margin of 16.38%. The business’s quarterly revenue was down 8.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $6.55 earnings per share. As a group, equities research analysts predict that Deere & Company will post 27.41 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Friday, March 29th will be issued a $1.47 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $5.88 annualized dividend and a dividend yield of 1.49%. Deere & Company’s payout ratio is 17.12%.

Institutional Investors Weigh In On Deere & Company

Several hedge funds and other institutional investors have recently modified their holdings of DE. Moneta Group Investment Advisors LLC grew its stake in Deere & Company by 104,373.8% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 3,219,883 shares of the industrial products company’s stock worth $1,380,557,000 after purchasing an additional 3,216,801 shares in the last quarter. Norges Bank bought a new position in Deere & Company in the fourth quarter worth approximately $1,248,036,000. Viking Global Investors LP bought a new position in Deere & Company in the fourth quarter worth approximately $562,442,000. International Assets Investment Management LLC grew its stake in Deere & Company by 46,241.1% in the fourth quarter. International Assets Investment Management LLC now owns 840,627 shares of the industrial products company’s stock worth $336,142,000 after purchasing an additional 838,813 shares in the last quarter. Finally, Parnassus Investments LLC grew its stake in Deere & Company by 22.4% in the fourth quarter. Parnassus Investments LLC now owns 3,856,171 shares of the industrial products company’s stock worth $1,541,967,000 after purchasing an additional 705,771 shares in the last quarter. 68.58% of the stock is currently owned by hedge funds and other 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.