Deere & Company (NYSE:DE) Receives $443.94 Average Target Price from Analysts

Deere & Company (NYSE:DE) has been given an average recommendation of “Hold” by the twenty-two ratings firms that are presently covering the company, Marketbeat reports. Thirteen investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $443.94.

Several equities analysts recently weighed in on the company. Jefferies Financial Group downgraded Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 target price on the stock. in a research report on Friday, December 6th. Morgan Stanley increased their price objective on shares of Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. Truist Financial raised their target price on shares of Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a research report on Thursday. Citigroup increased their price target on shares of Deere & Company from $460.00 to $470.00 and gave the stock a “neutral” rating in a research note on Monday, December 9th. Finally, Barclays lifted their price target on shares of Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a report on Friday, November 22nd.

Institutional Trading of Deere & Company

Several institutional investors have recently added to or reduced their stakes in DE. 1ST Source Bank grew its holdings in shares of Deere & Company by 1.7% during the third quarter. 1ST Source Bank now owns 6,549 shares of the industrial products company’s stock valued at $2,733,000 after purchasing an additional 112 shares during the last quarter. Oddo BHF Asset Management Sas bought a new position in Deere & Company during the 3rd quarter worth $3,631,000. Tidal Investments LLC grew its stake in Deere & Company by 56.3% during the 3rd quarter. Tidal Investments LLC now owns 38,689 shares of the industrial products company’s stock worth $16,146,000 after buying an additional 13,934 shares during the last quarter. Wilmington Savings Fund Society FSB increased its position in Deere & Company by 162.0% in the third quarter. Wilmington Savings Fund Society FSB now owns 21,563 shares of the industrial products company’s stock worth $8,999,000 after buying an additional 13,334 shares during the period. Finally, Arvest Bank Trust Division bought a new position in shares of Deere & Company during the third quarter worth about $1,252,000. Institutional investors own 68.58% of the company’s stock.

Deere & Company Price Performance

Shares of NYSE DE opened at $432.49 on Friday. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.90 and a current ratio of 2.09. Deere & Company has a one year low of $340.20 and a one year high of $469.39. The firm has a market capitalization of $117.45 billion, a P/E ratio of 16.89, a PEG ratio of 1.91 and a beta of 0.96. The company’s fifty day moving average is $423.38 and its two-hundred day moving average is $394.92.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, topping analysts’ consensus estimates of $3.89 by $0.66. The company had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.20 billion. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. Deere & Company’s quarterly revenue was down 32.8% compared to the same quarter last year. During the same period in the previous year, the business earned $8.26 earnings per share. Analysts forecast that Deere & Company will post 19.52 EPS for the current fiscal year.

Deere & Company Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st will be given a $1.62 dividend. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. The ex-dividend date is Tuesday, December 31st. This represents a $6.48 annualized dividend and a dividend yield of 1.50%. Deere & Company’s dividend payout ratio (DPR) is presently 25.31%.

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.