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

Deere & Company (NYSE:DE) had its price target hoisted by Truist Financial from $496.00 to $538.00 in a research report report published on Friday,Benzinga reports. Truist Financial currently has a buy rating on the industrial products company’s stock.

Other analysts also recently issued reports about the company. Barclays boosted their target price on Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a research report on Friday. Oppenheimer raised their target price on shares of Deere & Company from $448.00 to $477.00 and gave the company an “outperform” rating in a report on Friday. Bank of America upped their price target on shares of Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a report on Friday, August 16th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a research note on Thursday, August 8th. Finally, BMO Capital Markets began coverage on Deere & Company in a research note on Friday, August 9th. They issued a “market perform” rating and a $400.00 target price on the stock. Thirteen investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Deere & Company presently has an average rating of “Hold” and a consensus price target of $431.61.

Deere & Company Stock Performance

Shares of DE opened at $446.65 on Friday. The company has a quick ratio of 1.87, a current ratio of 2.09 and a debt-to-equity ratio of 1.89. Deere & Company has a 52-week low of $340.20 and a 52-week high of $447.50. The company has a 50-day simple moving average of $406.99 and a 200-day simple moving average of $386.22. The company 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 (NYSE:DE) last issued its earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, topping the consensus estimate of $3.90 by $0.65. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The company had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.20 billion. During the same period in the prior year, the business posted $8.26 earnings per share. The firm’s revenue for the quarter was down 32.8% compared to the same quarter last year. Equities research analysts predict that Deere & Company will post 21.41 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Monday, September 30th were given a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a yield of 1.32%. The ex-dividend date was Monday, September 30th. Deere & Company’s dividend payout ratio (DPR) is 22.97%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Pineridge Advisors LLC grew its stake in Deere & Company by 725.0% during the first 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. Fairscale Capital LLC purchased a new stake in Deere & Company during the 2nd quarter worth $26,000. Livelsberger Financial Advisory acquired a new stake in Deere & Company in the 3rd quarter valued at $32,000. Olistico Wealth LLC acquired a new stake in Deere & Company in the 2nd quarter valued at $37,000. Finally, Centennial Bank AR lifted its stake in shares of Deere & Company by 420.0% during the second quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 84 shares in the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

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.