Deere & Company (NYSE:DE – Free Report) had its price objective cut by Citigroup from $470.00 to $430.00 in a research note published on Tuesday,Benzinga reports. They currently have a neutral rating on the industrial products company’s stock.
A number of other equities research analysts also recently commented on DE. JPMorgan Chase & Co. lifted their target price on shares of Deere & Company from $420.00 to $450.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Oppenheimer boosted their price target on Deere & Company from $448.00 to $477.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. Truist Financial increased their price objective on shares of Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Barclays boosted their target price on shares of Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Finally, Morgan Stanley increased their price target on shares of Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a research report on Monday, November 25th. Eleven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, Deere & Company presently has a consensus rating of “Hold” and a consensus price target of $442.83.
Get Our Latest Research Report on Deere & Company
Deere & Company Price Performance
Deere & Company (NYSE:DE – Get Free Report) last announced its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.89 by $0.66. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The business had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9.20 billion. During the same quarter in the previous year, the business earned $8.26 earnings per share. The firm’s quarterly revenue was down 32.8% compared to the same quarter last year. Equities research analysts forecast that Deere & Company will post 19.57 EPS for the current fiscal year.
Deere & Company Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.48%. The ex-dividend date is Tuesday, December 31st. This is an increase from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s payout ratio is 25.31%.
Hedge Funds Weigh In On Deere & Company
Several institutional investors have recently bought and sold shares of the stock. Charles Schwab Trust Co boosted its holdings in shares of Deere & Company by 1.6% during the 4th quarter. Charles Schwab Trust Co now owns 6,437 shares of the industrial products company’s stock valued at $2,727,000 after purchasing an additional 101 shares during the last quarter. Ballentine Partners LLC lifted its position in shares of Deere & Company by 16.3% in the fourth quarter. Ballentine Partners LLC now owns 6,110 shares of the industrial products company’s stock worth $2,589,000 after buying an additional 858 shares in the last quarter. Culbertson A N & Co. Inc. lifted its position in shares of Deere & Company by 1.1% in the fourth quarter. Culbertson A N & Co. Inc. now owns 24,202 shares of the industrial products company’s stock worth $10,254,000 after buying an additional 265 shares in the last quarter. ZWJ Investment Counsel Inc. lifted its position in shares of Deere & Company by 6.8% in the fourth quarter. ZWJ Investment Counsel Inc. now owns 1,593 shares of the industrial products company’s stock worth $675,000 after buying an additional 102 shares in the last quarter. Finally, Tudor Financial Inc. purchased a new position in Deere & Company during the 4th quarter valued at approximately $239,000. 68.58% of the stock is owned by hedge funds and other institutional investors.
Deere & Company Company Profile
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.
Further Reading
- Five stocks we like better than Deere & Company
- 3 Ways To Invest In Coffee, Other Than Drinking It
- Cerence AI: One-Hit Wonder or Long-Term Winner After NVIDIA Pact?
- Stock Market Upgrades: What Are They?
- UnitedHealth Group Pulls Back Into Another Healthy Opportunity
- How to Know if a Stock Pays Dividends and When They Are Paid Out
- Micron Technology: Riding the AI Wave to Long-Term Growth
Receive News & Ratings for Deere & Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Deere & Company and related companies with MarketBeat.com's FREE daily email newsletter.