Deere & Company (NYSE:DE) Receives $410.50 Consensus Target Price from Brokerages

Shares of Deere & Company (NYSE:DE) have received a consensus rating of “Hold” from the twenty ratings firms that are covering the company, MarketBeat reports. Twelve analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $420.69.

DE has been the topic of a number of recent analyst reports. 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. Citigroup boosted their price objective on shares of Deere & Company from $395.00 to $420.00 and gave the company a “neutral” rating in a report on Wednesday. Truist Financial upped their target price on Deere & Company from $443.00 to $496.00 and gave the company a “buy” rating in a research report on Wednesday. Morgan Stanley dropped their price target on Deere & Company from $450.00 to $425.00 and set an “overweight” rating on the stock in a research note on Monday, August 26th. Finally, BMO Capital Markets started coverage on Deere & Company in a research note on Friday, August 9th. They issued a “market perform” rating and a $400.00 price objective for the company.

Deere & Company Stock Up 1.3 %

Deere & Company stock opened at $411.08 on Friday. Deere & Company has a 1-year low of $340.20 and a 1-year high of $420.47. The business has a fifty day moving average price of $387.01 and a 200-day moving average price of $385.44. The company has a debt-to-equity ratio of 1.85, a current ratio of 2.07 and a quick ratio of 1.87. The stock has a market capitalization of $113.28 billion, a price-to-earnings ratio of 12.37, a PEG ratio of 1.35 and a beta of 0.92.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, topping the consensus estimate of $5.63 by $0.66. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The business had revenue of $11.39 billion during the quarter, compared to the consensus estimate of $10.94 billion. During the same quarter last year, the company earned $10.20 earnings per share. The company’s quarterly revenue was down 20.3% on a year-over-year basis. Equities research analysts forecast that Deere & Company will post 25.03 EPS for the current fiscal year.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, September 30th will be issued a $1.47 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a yield of 1.43%. Deere & Company’s payout ratio is 17.70%.

Institutional Investors Weigh In On Deere & Company

Institutional investors have recently modified their holdings of the business. Creative Planning increased its holdings in Deere & Company by 2.1% in the 3rd quarter. Creative Planning now owns 75,462 shares of the industrial products company’s stock worth $31,493,000 after acquiring an additional 1,555 shares in the last quarter. Harrington Investments INC lifted its holdings in Deere & Company by 0.7% during the third quarter. Harrington Investments INC now owns 4,743 shares of the industrial products company’s stock valued at $1,979,000 after purchasing an additional 35 shares in the last quarter. Wedge Capital Management L L P NC acquired a new stake in shares of Deere & Company in the third quarter valued at about $4,728,000. ORG Wealth Partners LLC purchased a new stake in shares of Deere & Company during the third quarter worth about $55,000. Finally, Thurston Springer Miller Herd & Titak Inc. raised its position in shares of Deere & Company by 75.6% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 971 shares of the industrial products company’s stock worth $405,000 after purchasing an additional 418 shares during the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

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.