Deere & Company (NYSE:DE) Price Target Lowered to $439.00 at Truist Financial

Deere & Company (NYSE:DE) had its price objective trimmed by Truist Financial from $460.00 to $439.00 in a research note issued to investors on Tuesday morning, Marketbeat Ratings reports. The brokerage currently has a buy rating on the industrial products company’s stock.

Several other research firms also recently commented on DE. Daiwa Capital Markets increased their price objective on Deere & Company from $400.00 to $420.00 and gave the company an overweight rating in a research note on Wednesday, May 15th. Oppenheimer restated an outperform rating and issued a $456.00 target price on shares of Deere & Company in a report on Thursday, May 16th. Stifel Nicolaus upped their target price on Deere & Company from $425.00 to $450.00 and gave the company a buy rating in a report on Friday, May 17th. DA Davidson dropped their target price on Deere & Company from $483.00 to $465.00 and set a buy rating for the company in a report on Monday, May 20th. Finally, JPMorgan Chase & Co. dropped their target price on Deere & Company from $425.00 to $385.00 and set a neutral rating for the company in a report on Friday, May 17th. Eleven analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of Hold and a consensus price target of $427.66.

Deere & Company Stock Up 1.1 %

NYSE DE opened at $364.95 on Tuesday. The business has a fifty day moving average price of $384.54 and a 200 day moving average price of $387.09. Deere & Company has a one year low of $353.15 and a one year high of $450.00. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.80 and a current ratio of 2.01. The company has a market cap of $100.57 billion, a P/E ratio of 10.96, a P/E/G ratio of 1.50 and a beta of 0.93.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, May 16th. The industrial products company reported $8.53 EPS for the quarter, beating the consensus estimate of $7.86 by $0.67. Deere & Company had a return on equity of 42.26% and a net margin of 16.15%. The firm had revenue of $13.61 billion during the quarter, compared to the consensus estimate of $13.29 billion. During the same period in the prior year, the company earned $9.65 EPS. The firm’s revenue was down 15.4% compared to the same quarter last year. Research analysts anticipate that Deere & Company will post 25.61 EPS for the current fiscal year.

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 8th. Investors of record on Friday, June 28th will be paid a dividend of $1.47 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $5.88 dividend on an annualized basis and a yield of 1.61%. Deere & Company’s dividend payout ratio is presently 17.70%.

Insider Buying and Selling

In other news, insider Cory J. Reed sold 13,370 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $377.63, for a total value of $5,048,913.10. Following the transaction, the insider now owns 41,642 shares of the company’s stock, valued at $15,725,268.46. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.26% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. True Wealth Design LLC grew its holdings in Deere & Company by 1,180.0% during the fourth quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 59 shares during the period. Pineridge Advisors LLC lifted its holdings 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 during the last quarter. ZRC Wealth Management LLC bought a new stake in shares of Deere & Company in the 4th quarter worth approximately $28,000. Rakuten Securities Inc. bought a new stake in Deere & Company during the 4th quarter valued at $28,000. Finally, Naples Money Management LLC bought a new stake in Deere & Company during the 4th quarter valued at $29,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

About Deere & Company

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.