Oppenheimer Forecasts Strong Price Appreciation for Deere & Company (NYSE:DE) Stock

Deere & Company (NYSE:DE) had its price objective increased by Oppenheimer from $448.00 to $477.00 in a research note published on Friday morning, MarketBeat.com reports. Oppenheimer currently has an outperform rating on the industrial products company’s stock.

A number of other research analysts have also recently commented on DE. HSBC cut Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, August 19th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a research report on Thursday, August 8th. Evercore ISI upped their price target on shares of Deere & Company from $371.00 to $378.00 and gave the company an “in-line” rating in a research note on Monday, August 19th. BMO Capital Markets began coverage on Deere & Company in a research note on Friday, August 9th. They set a “market perform” rating and a $400.00 price objective on the stock. Finally, Citigroup raised their price target on shares of Deere & Company from $395.00 to $420.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Thirteen analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average 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 company has a debt-to-equity ratio of 1.89, a current ratio of 2.09 and a quick ratio of 1.90. The firm has a 50-day moving average of $408.35 and a 200-day moving average of $386.60. Deere & Company has a one year low of $340.20 and a one year high of $469.39. The company has a market cap of $126.62 billion, a P/E ratio of 18.08, a P/E/G ratio of 1.75 and a beta of 0.93.

Deere & Company (NYSE:DE) last announced its 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. The firm had revenue of $9.28 billion for 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%. The company’s revenue was down 32.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $8.26 EPS. Equities research analysts forecast that Deere & Company will post 21.31 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Monday, September 30th were paid a $1.47 dividend. 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 dividend payout ratio is currently 22.97%.

Institutional Trading of Deere & Company

Institutional investors and hedge funds have recently bought and sold shares of the company. Fairscale Capital LLC purchased a new stake in shares of Deere & Company during the 2nd quarter valued at about $26,000. Pineridge Advisors LLC increased its stake in shares of Deere & Company by 725.0% in the 1st quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 58 shares in the last quarter. Livelsberger Financial Advisory bought a new position in shares of Deere & Company in the third quarter worth about $32,000. Olistico Wealth LLC bought a new stake in Deere & Company during the 2nd quarter worth approximately $37,000. Finally, Centennial Bank AR raised its position in shares of Deere & Company by 420.0% during the 2nd quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 84 shares during the period. 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.