Brokerages Set Deere & Company (NYSE:DE) Price Target at $460.00

Shares of Deere & Company (NYSE:DE) have been given a consensus rating of “Hold” by the twenty-one brokerages that are presently covering the company, Marketbeat reports. Thirteen investment analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $460.00.

DE has been the topic of several analyst reports. Citigroup lifted their target price on shares of Deere & Company from $430.00 to $480.00 and gave the company a “neutral” rating in a report on Friday, February 14th. Baird R W lowered Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, March 3rd. StockNews.com raised Deere & Company from a “sell” rating to a “hold” rating in a research note on Saturday. Robert W. Baird reissued a “neutral” rating and issued a $501.00 price target on shares of Deere & Company in a report on Monday, March 3rd. Finally, JPMorgan Chase & Co. upped their price objective on Deere & Company from $470.00 to $500.00 and gave the stock a “neutral” rating in a report on Monday, February 10th.

Insider Buying and Selling at Deere & Company

In other Deere & Company news, insider Rajesh Kalathur sold 24,580 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $500.61, for a total value of $12,304,993.80. Following the transaction, the insider now directly owns 74,878 shares in the company, valued at approximately $37,484,675.58. This represents a 24.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.29% of the stock is owned by insiders.

Institutional Investors Weigh In On Deere & Company

A number of hedge funds and other institutional investors have recently modified their holdings of DE. Townsquare Capital LLC lifted its stake in shares of Deere & Company by 26.2% during the 3rd quarter. Townsquare Capital LLC now owns 6,354 shares of the industrial products company’s stock worth $2,652,000 after purchasing an additional 1,319 shares during the period. Public Sector Pension Investment Board lifted its position in Deere & Company by 14.2% during the third quarter. Public Sector Pension Investment Board now owns 10,471 shares of the industrial products company’s stock worth $4,370,000 after buying an additional 1,300 shares during the period. Icon Wealth Advisors LLC acquired a new stake in Deere & Company in the 3rd quarter worth about $113,000. Circle Wealth Management LLC purchased a new stake in Deere & Company in the 3rd quarter valued at about $382,000. Finally, Caisse DE Depot ET Placement DU Quebec acquired a new position in shares of Deere & Company during the 3rd quarter valued at about $27,961,000. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Stock Up 1.9 %

Deere & Company stock opened at $478.42 on Friday. The stock has a 50 day moving average of $477.87 and a two-hundred day moving average of $441.29. Deere & Company has a twelve month low of $340.20 and a twelve month high of $515.05. The stock has a market capitalization of $129.85 billion, a price-to-earnings ratio of 21.21, a PEG ratio of 2.14 and a beta of 1.01. The company has a current ratio of 2.22, a quick ratio of 1.98 and a debt-to-equity ratio of 1.94.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, February 13th. The industrial products company reported $3.19 EPS for the quarter, topping the consensus estimate of $3.14 by $0.05. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. As a group, research analysts expect that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 8th. Investors of record on Monday, March 31st will be paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date of this dividend is Monday, March 31st. Deere & Company’s payout ratio is currently 28.72%.

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.