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

Deere & Company (NYSE:DE) had its price objective lifted by JPMorgan Chase & Co. from $420.00 to $450.00 in a report published on Friday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the industrial products company’s stock.

A number of other analysts have also commented on DE. Morgan Stanley decreased their price objective on Deere & Company from $450.00 to $425.00 and set an “overweight” rating on the stock in a research note on Monday, August 26th. Evercore ISI boosted their price objective on shares of Deere & Company from $371.00 to $378.00 and gave the company an “in-line” rating in a research report on Monday, August 19th. Hsbc Global Res lowered shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 19th. BMO Capital Markets began coverage on Deere & Company in a report on Friday, August 9th. They issued a “market perform” rating and a $400.00 price target for the company. Finally, Bank of America raised their price objective on Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a report on Friday, August 16th. Thirteen investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, Deere & Company has a consensus rating of “Hold” and a consensus target price of $431.61.

Deere & Company Price Performance

Shares of NYSE DE opened at $446.65 on Friday. The company has a current ratio of 2.09, a quick ratio of 1.87 and a debt-to-equity ratio of 1.89. The company’s 50-day moving average price is $406.99 and its 200 day moving average price is $386.22. Deere & Company has a 52 week low of $340.20 and a 52 week high of $447.50. The stock has a market cap of $122.20 billion, a price-to-earnings ratio of 17.45, a PEG ratio of 1.70 and a beta of 0.93.

Deere & Company (NYSE:DE) last issued its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $9.20 billion. During the same period last year, the company posted $8.26 EPS. The company’s revenue was down 32.8% on a year-over-year basis. As a group, research analysts forecast that Deere & Company will post 21.41 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The firm 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. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date was Monday, September 30th. Deere & Company’s payout ratio is 22.97%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Fairscale Capital LLC acquired a new position in shares of Deere & Company in the 2nd quarter valued at about $26,000. Pineridge Advisors LLC increased its stake in Deere & Company by 725.0% during the 1st quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock valued at $27,000 after buying an additional 58 shares during the period. Livelsberger Financial Advisory bought a new stake in shares of Deere & Company during the 3rd quarter worth about $32,000. Olistico Wealth LLC acquired a new stake in shares of Deere & Company in the 2nd quarter worth approximately $37,000. Finally, Centennial Bank AR boosted its holdings in shares of Deere & Company by 420.0% in the second quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 84 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Company Profile

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.