Deere & Company (NYSE:DE – Get Free Report)’s share price reached a new 52-week high on Wednesday after Oppenheimer raised their price target on the stock from $477.00 to $507.00. Oppenheimer currently has an outperform rating on the stock. Deere & Company traded as high as $485.84 and last traded at $480.59, with a volume of 1642397 shares changing hands. The stock had previously closed at $484.15.
Several other equities analysts have also weighed in on the stock. Barclays increased their price objective 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. Citigroup dropped their price objective on shares of Deere & Company from $470.00 to $430.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th. JPMorgan Chase & Co. increased their price objective on shares of Deere & Company from $450.00 to $470.00 and gave the company a “neutral” rating in a research report on Wednesday, January 15th. UBS Group increased their price objective on shares of Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Finally, Jefferies Financial Group lowered shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price objective on the stock. in a research report on Friday, December 6th. Eleven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $444.50.
Read Our Latest Research Report on Deere & Company
Institutional Trading of Deere & Company
Deere & Company Stock Performance
The stock has a market capitalization of $130.32 billion, a PE ratio of 18.69, a P/E/G ratio of 2.84 and a beta of 0.98. The company has a debt-to-equity ratio of 1.89, a current ratio of 2.09 and a quick ratio of 1.90. The business’s fifty day moving average price is $441.75 and its 200-day moving average price is $408.11.
Deere & Company (NYSE:DE – Get Free Report) last announced its earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, beating analysts’ consensus estimates of $3.89 by $0.66. The business had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.20 billion. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. Deere & Company’s quarterly revenue was down 32.8% on a year-over-year basis. During the same period last year, the firm posted $8.26 earnings per share. As a group, equities research analysts expect that Deere & Company will post 19.34 EPS for the current year.
Deere & Company Increases Dividend
The firm 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 dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date of this dividend is Tuesday, December 31st. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s payout ratio is 25.31%.
About Deere & Company
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.
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