Brokerages Set Deere & Company (NYSE:DE) Target Price at $444.50

Shares of Deere & Company (NYSE:DE) have been given an average rating of “Hold” by the twenty ratings firms that are currently covering the firm, Marketbeat Ratings reports. Eleven research analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $446.17.

Several equities research analysts have recently commented on DE shares. Citigroup lowered their price objective on shares of Deere & Company from $470.00 to $430.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. Morgan Stanley boosted their price target on Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a research note on Monday, November 25th. Truist Financial raised their price objective on Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. JPMorgan Chase & Co. upped their target price on Deere & Company from $470.00 to $500.00 and gave the company a “neutral” rating in a research report on Monday. Finally, Oppenheimer raised their price target on shares of Deere & Company from $477.00 to $507.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th.

Deere & Company Trading Up 1.0 %

Shares of NYSE DE opened at $470.22 on Friday. The business’s 50 day moving average price is $445.00 and its 200-day moving average price is $413.46. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $485.84. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.90 and a current ratio of 2.09. The company has a market cap of $128.06 billion, a price-to-earnings ratio of 18.37, a PEG ratio of 2.87 and a beta of 0.98.

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, beating analysts’ consensus estimates of $3.89 by $0.66. The business had revenue of $9.28 billion during 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%. Deere & Company’s revenue was down 32.8% on a year-over-year basis. During the same period in the previous year, the company posted $8.26 EPS. On average, sell-side analysts expect that Deere & Company will post 19.38 earnings per share for the current year.

Deere & Company Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st were issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date of this dividend was Tuesday, December 31st. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s dividend payout ratio is 25.31%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its stake in shares of Deere & Company by 32.0% during the 3rd quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company’s stock valued at $3,068,404,000 after buying an additional 1,782,984 shares during the period. FMR LLC raised its holdings in shares of Deere & Company by 27.8% in the 3rd quarter. FMR LLC now owns 4,542,013 shares of the industrial products company’s stock worth $1,895,518,000 after purchasing an additional 988,380 shares during the period. Pathway Financial Advisers LLC lifted its stake in shares of Deere & Company by 53,338.6% in the 3rd quarter. Pathway Financial Advisers LLC now owns 854,484 shares of the industrial products company’s stock valued at $356,602,000 after purchasing an additional 852,885 shares in the last quarter. International Assets Investment Management LLC increased its position in shares of Deere & Company by 46,892.9% in the third quarter. International Assets Investment Management LLC now owns 772,094 shares of the industrial products company’s stock worth $322,218,000 after acquiring an additional 770,451 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Deere & Company in the fourth quarter valued at about $296,232,000. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Company Profile

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.