Deere & Company (NYSE:DE) Receives $443.94 Consensus PT from Analysts

Shares of Deere & Company (NYSE:DE) have earned a consensus rating of “Hold” from the twenty brokerages that are presently covering the firm, MarketBeat.com reports. Eleven equities research analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $442.83.

Several equities analysts have recently commented on DE shares. UBS Group increased their price target on shares of Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Truist Financial increased their target price on Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. JPMorgan Chase & Co. boosted their price target on Deere & Company from $450.00 to $470.00 and gave the company a “neutral” rating in a report on Wednesday. Citigroup dropped their price target on Deere & Company from $470.00 to $430.00 and set a “neutral” rating on the stock in a research report on Tuesday. Finally, Barclays lifted their price objective on shares of Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd.

Institutional Investors Weigh In On Deere & Company

Hedge funds and other institutional investors have recently modified their holdings of the stock. Wellington Management Group LLP grew its position in Deere & Company by 32.0% in the 3rd quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company’s stock valued at $3,068,404,000 after buying an additional 1,782,984 shares in the last quarter. FMR LLC lifted its stake in shares of Deere & Company by 27.8% in the 3rd quarter. FMR LLC now owns 4,542,013 shares of the industrial products company’s stock worth $1,895,518,000 after acquiring an additional 988,380 shares during the period. Pathway Financial Advisers LLC boosted its holdings in shares of Deere & Company by 53,338.6% in the third quarter. Pathway Financial Advisers LLC now owns 854,484 shares of the industrial products company’s stock valued at $356,602,000 after acquiring an additional 852,885 shares in the last quarter. International Assets Investment Management LLC increased its stake in shares of Deere & Company by 46,892.9% during the third quarter. International Assets Investment Management LLC now owns 772,094 shares of the industrial products company’s stock valued at $322,218,000 after acquiring an additional 770,451 shares during the period. Finally, Stockbridge Partners LLC boosted its stake in Deere & Company by 157.5% during the 3rd quarter. Stockbridge Partners LLC now owns 884,237 shares of the industrial products company’s stock valued at $369,019,000 after purchasing an additional 540,874 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Stock Performance

Shares of DE opened at $439.29 on Tuesday. The firm has a market cap of $119.30 billion, a price-to-earnings ratio of 17.16, a PEG ratio of 1.74 and a beta of 0.98. The company has a quick ratio of 1.90, a current ratio of 2.09 and a debt-to-equity ratio of 1.89. The business’s 50 day moving average is $429.66 and its two-hundred day moving average is $401.06. Deere & Company has a 52-week low of $340.20 and a 52-week 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 (EPS) for the quarter, beating the consensus estimate of $3.89 by $0.66. The firm had revenue of $9.28 billion for the quarter, compared to analysts’ expectations of $9.20 billion. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The firm’s quarterly revenue was down 32.8% on a year-over-year basis. During the same period in the prior year, the company posted $8.26 earnings per share. Analysts forecast that Deere & Company will post 19.57 EPS for the current fiscal year.

Deere & Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Tuesday, December 31st will be issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 1.48%. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. The ex-dividend date is Tuesday, December 31st. Deere & Company’s dividend payout ratio is 25.31%.

Deere & Company Company Profile

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.