Deere & Company (NYSE:DE) Price Target Raised to $450.00

Deere & Company (NYSE:DE) had its price objective lifted by Morgan Stanley from $401.00 to $450.00 in a report issued on Monday morning,Benzinga reports. The firm currently has an overweight rating on the industrial products company’s stock.

A number of other equities research analysts have also issued reports on the company. BMO Capital Markets began coverage on Deere & Company in a research note on Friday, August 9th. They issued a “market perform” rating and a $400.00 price target for the company. Truist Financial lifted their target price on Deere & Company from $496.00 to $538.00 and gave the company a “buy” rating in a research note on Friday. Hsbc Global Res downgraded Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 19th. Evercore ISI lifted their price objective on shares of Deere & Company from $371.00 to $378.00 and gave the company an “in-line” rating in a research report on Monday, August 19th. Finally, Bank of America boosted their target price on shares of Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a report on Friday, August 16th. Thirteen analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $433.00.

Deere & Company Trading Up 3.6 %

Shares of NYSE:DE opened at $462.81 on Monday. The stock has a 50 day moving average of $408.35 and a 200 day moving average of $386.60. The company has a market cap of $126.62 billion, a PE ratio of 18.08, a price-to-earnings-growth ratio of 1.75 and a beta of 0.93. Deere & Company has a 12-month low of $340.20 and a 12-month high of $469.39. The company has a current ratio of 2.09, a quick ratio of 1.90 and a debt-to-equity ratio of 1.89.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, topping analysts’ consensus estimates of $3.90 by $0.65. The business had revenue of $9.28 billion during the quarter, compared to analyst estimates of $9.20 billion. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The company’s revenue was down 32.8% on a year-over-year basis. During the same period in the prior year, the business posted $8.26 earnings per share. As a group, equities research analysts expect that Deere & Company will post 21.31 EPS for the current year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Monday, September 30th were paid a $1.47 dividend. This represents a $5.88 annualized dividend and a dividend yield of 1.27%. The ex-dividend date was Monday, September 30th. Deere & Company’s payout ratio is 22.97%.

Institutional Trading of Deere & Company

Several hedge funds and other institutional investors have recently bought and sold shares of DE. Oppenheimer Asset Management Inc. raised its stake in shares of Deere & Company by 20.5% in the second quarter. Oppenheimer Asset Management Inc. now owns 15,808 shares of the industrial products company’s stock valued at $5,906,000 after acquiring an additional 2,692 shares during the period. Chase Investment Counsel Corp raised its position in Deere & Company by 53.8% in the 3rd quarter. Chase Investment Counsel Corp now owns 4,000 shares of the industrial products company’s stock worth $1,669,000 after purchasing an additional 1,400 shares during the period. Balentine LLC bought a new stake in Deere & Company in the third quarter worth about $710,000. Douglass Winthrop Advisors LLC boosted its position in shares of Deere & Company by 2.9% during the third quarter. Douglass Winthrop Advisors LLC now owns 273,207 shares of the industrial products company’s stock valued at $114,017,000 after buying an additional 7,753 shares during the period. Finally, Royal Fund Management LLC grew its stake in shares of Deere & Company by 99.8% during the third quarter. Royal Fund Management LLC now owns 6,454 shares of the industrial products company’s stock valued at $2,694,000 after buying an additional 3,223 shares during the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

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.