Brokerages Set Deere & Company (NYSE:DE) Target Price at $443.94

Deere & Company (NYSE:DE) has been assigned an average recommendation of “Hold” from the twenty-two analysts that are currently covering the company, MarketBeat reports. Thirteen research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $443.94.

DE has been the subject of a number of recent analyst reports. Barclays increased their target price on shares of Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. JPMorgan Chase & Co. increased their price objective on shares of Deere & Company from $420.00 to $450.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. UBS Group boosted their target price on Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Truist Financial increased their price target on Deere & Company from $538.00 to $550.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Morgan Stanley boosted their price objective on Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a research note on Monday, November 25th.

Deere & Company Stock Performance

Shares of NYSE DE opened at $432.49 on Friday. Deere & Company has a 12-month low of $340.20 and a 12-month high of $469.39. The company has a market cap of $117.45 billion, a PE ratio of 16.89, a P/E/G ratio of 1.91 and a beta of 0.96. The stock has a 50 day simple moving average of $423.38 and a 200-day simple moving average of $394.92. The company has a current ratio of 2.09, a quick ratio of 1.90 and a debt-to-equity ratio of 1.89.

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, topping analysts’ consensus estimates of $3.89 by $0.66. The company 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%. The firm’s quarterly revenue was down 32.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $8.26 EPS. On average, equities research analysts forecast that Deere & Company will post 19.52 EPS for the current year.

Deere & Company Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $1.62 per share. The ex-dividend date is Tuesday, December 31st. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.50%. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s payout ratio is currently 25.31%.

Institutional Trading of Deere & Company

A number of hedge funds have recently modified their holdings of the business. Wellington Management Group LLP boosted its holdings in shares of Deere & Company by 32.0% during the third quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company’s stock worth $3,068,404,000 after purchasing an additional 1,782,984 shares during the period. Geode Capital Management LLC boosted its stake in shares of Deere & Company by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 5,208,368 shares of the industrial products company’s stock valued at $2,168,737,000 after buying an additional 31,459 shares during the period. FMR LLC grew its holdings in shares of Deere & Company by 27.8% during the 3rd quarter. FMR LLC now owns 4,542,013 shares of the industrial products company’s stock valued at $1,895,518,000 after acquiring an additional 988,380 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of Deere & Company by 2.7% during the 2nd quarter. Legal & General Group Plc now owns 2,254,266 shares of the industrial products company’s stock valued at $842,259,000 after acquiring an additional 60,255 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Deere & Company by 15.0% during the second quarter. Dimensional Fund Advisors LP now owns 2,146,441 shares of the industrial products company’s stock worth $802,037,000 after acquiring an additional 279,627 shares in the last quarter. 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.