JPMorgan Chase & Co. Issues Positive Forecast for Deere & Company (NYSE:DE) Stock Price

Deere & Company (NYSE:DE) had its price target raised by JPMorgan Chase & Co. from $470.00 to $500.00 in a research report released on Monday,Benzinga reports. They currently have a neutral rating on the industrial products company’s stock.

A number of other research analysts also recently weighed in on the stock. Citigroup lowered their price objective on shares of Deere & Company from $470.00 to $430.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th. Barclays increased their price target on Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. UBS Group lifted their price objective on Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Morgan Stanley increased their target price on Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a report on Monday, November 25th. Finally, Jefferies Financial Group downgraded Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price target for the company. in a research note on Friday, December 6th. Eleven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Deere & Company presently has an average rating of “Hold” and a consensus price target of $446.17.

Deere & Company Stock Up 1.0 %

Deere & Company stock opened at $470.22 on Monday. Deere & Company has a 12 month low of $340.20 and a 12 month high of $485.84. The stock has a fifty day simple moving average of $445.00 and a two-hundred day simple moving average of $413.46. The company has a current ratio of 2.09, a quick ratio of 1.90 and a debt-to-equity ratio of 1.89. The firm 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 released its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, topping the consensus estimate of $3.89 by $0.66. The company had revenue of $9.28 billion during the quarter, compared to the consensus estimate 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 for the quarter was down 32.8% on a year-over-year basis. During the same period last year, the company earned $8.26 EPS. Equities analysts predict that Deere & Company will post 19.38 EPS for the current fiscal year.

Deere & Company Increases Dividend

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

Institutional Investors Weigh In On Deere & Company

A number of institutional investors have recently bought and sold shares of the business. Robertson Stephens Wealth Management LLC grew its stake in Deere & Company by 2.2% during the fourth quarter. Robertson Stephens Wealth Management LLC now owns 1,002 shares of the industrial products company’s stock valued at $426,000 after acquiring an additional 22 shares in the last quarter. DLK Investment Management LLC boosted its holdings in shares of Deere & Company by 0.3% during the 4th quarter. DLK Investment Management LLC now owns 8,212 shares of the industrial products company’s stock valued at $3,479,000 after purchasing an additional 24 shares during the last quarter. Quent Capital LLC grew its position in shares of Deere & Company by 2.8% during the fourth quarter. Quent Capital LLC now owns 889 shares of the industrial products company’s stock valued at $377,000 after purchasing an additional 24 shares in the last quarter. Valeo Financial Advisors LLC increased its holdings in shares of Deere & Company by 0.3% in the fourth quarter. Valeo Financial Advisors LLC now owns 8,019 shares of the industrial products company’s stock worth $3,398,000 after purchasing an additional 24 shares during the last quarter. Finally, Mattern Wealth Management LLC lifted its position in shares of Deere & Company by 1.3% in the third quarter. Mattern Wealth Management LLC now owns 1,884 shares of the industrial products company’s stock worth $786,000 after buying an additional 25 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

About Deere & Company

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.