Deere & Company (NYSE:DE) Given New $475.00 Price Target at Barclays

Deere & Company (NYSE:DE) had its price target increased by Barclays from $400.00 to $475.00 in a report released on Friday,Benzinga reports. They currently have an overweight rating on the industrial products company’s stock.

Other equities research analysts also recently issued reports about the stock. HSBC downgraded shares of Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, August 19th. Bank of America increased their price objective on Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a research note on Friday, August 16th. Citigroup lifted their target price on shares of Deere & Company from $395.00 to $420.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. BMO Capital Markets started coverage on Deere & Company in a research report on Friday, August 9th. They issued a “market perform” rating and a $400.00 price objective for the company. Finally, Morgan Stanley lowered their price target on Deere & Company from $450.00 to $425.00 and set an “overweight” rating for the company in a report on Monday, August 26th. Thirteen investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $433.00.

Deere & Company Stock Performance

Shares of DE stock opened at $462.81 on Friday. The stock has a 50 day simple moving average of $408.35 and a 200-day simple moving average of $386.60. The company has a market cap of $126.62 billion, a price-to-earnings ratio of 18.08, a price-to-earnings-growth ratio of 1.75 and a beta of 0.93. 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 has a 12-month low of $340.20 and a 12-month high of $469.39.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, topping analysts’ consensus estimates of $3.90 by $0.65. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The business had revenue of $9.28 billion for the quarter, compared to analysts’ expectations of $9.20 billion. During the same period in the prior year, the company posted $8.26 EPS. The business’s revenue for the quarter was down 32.8% on a year-over-year basis. On average, equities analysts forecast that Deere & Company will post 21.31 EPS for the current year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Monday, September 30th were given a dividend of $1.47 per share. The ex-dividend date was Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.27%. Deere & Company’s payout ratio is currently 22.97%.

Institutional Investors Weigh In On Deere & Company

A number of hedge funds have recently bought and sold shares of DE. Tidal Investments LLC raised its holdings in Deere & Company by 56.3% in the third quarter. Tidal Investments LLC now owns 38,689 shares of the industrial products company’s stock valued at $16,146,000 after acquiring an additional 13,934 shares in the last quarter. Wilmington Savings Fund Society FSB raised its stake in Deere & Company by 162.0% during the third quarter. Wilmington Savings Fund Society FSB now owns 21,563 shares of the industrial products company’s stock valued at $8,999,000 after buying an additional 13,334 shares in the last quarter. Arvest Bank Trust Division bought a new position in Deere & Company during the 3rd quarter worth approximately $1,252,000. Pine Valley Investments Ltd Liability Co grew its position in shares of Deere & Company by 13.9% in the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 9,879 shares of the industrial products company’s stock worth $4,131,000 after acquiring an additional 1,205 shares in the last quarter. Finally, SkyView Investment Advisors LLC increased its holdings in shares of Deere & Company by 6.6% in the 3rd quarter. SkyView Investment Advisors LLC now owns 1,098 shares of the industrial products company’s stock valued at $458,000 after acquiring an additional 68 shares during the last quarter. Institutional investors and hedge funds 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.