Deere & Company (NYSE:DE) Price Target Raised to $470.00

Deere & Company (NYSE:DE) had its target price hoisted by JPMorgan Chase & Co. from $450.00 to $470.00 in a research report report published on Wednesday morning,Benzinga reports. They currently have a neutral rating on the industrial products company’s stock.

Several other research firms have also recently weighed in on DE. Truist Financial boosted their price objective on Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Morgan Stanley increased their price objective on Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a research report on Monday, November 25th. Barclays boosted their target price on shares of Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. UBS Group increased their price target on shares of Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Finally, Oppenheimer boosted their price objective on shares of Deere & Company from $448.00 to $477.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Eleven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Deere & Company has an average rating of “Hold” and an average target price of $442.83.

Deere & Company Trading Up 4.0 %

NYSE:DE opened at $456.57 on Wednesday. The company’s 50 day moving average is $430.22 and its 200-day moving average is $401.33. The company has a quick ratio of 1.90, a current ratio of 2.09 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. The firm has a market cap of $124.00 billion, a price-to-earnings ratio of 17.83, a P/E/G ratio of 1.74 and a beta of 0.98.

Deere & Company (NYSE:DE) last announced its earnings results 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. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The firm had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.20 billion. During the same quarter last year, the firm posted $8.26 EPS. The business’s quarterly revenue was down 32.8% on a year-over-year basis. Equities analysts anticipate that Deere & Company will post 19.57 EPS for the current year.

Deere & Company Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $1.62 per share. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. This represents a $6.48 annualized dividend and a yield of 1.42%. The ex-dividend date is Tuesday, December 31st. Deere & Company’s dividend payout ratio is currently 25.31%.

Institutional Investors Weigh In On Deere & Company

Several institutional investors and hedge funds have recently made changes to their positions in the company. Fairscale Capital LLC acquired a new stake in shares of Deere & Company during the 2nd quarter worth about $26,000. Livelsberger Financial Advisory bought a new position in shares of Deere & Company in the third quarter valued at approximately $32,000. Modus Advisors LLC acquired a new position in shares of Deere & Company in the 4th quarter worth approximately $32,000. Centennial Bank AR grew its position in Deere & Company by 420.0% during the 2nd quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 84 shares during the last quarter. Finally, Continuum Advisory LLC increased its holdings in Deere & Company by 155.8% during the 3rd quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock valued at $43,000 after purchasing an additional 67 shares in the last quarter. Institutional investors and hedge funds 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.