Deere & Company (NYSE:DE) Reaches New 1-Year High on Analyst Upgrade

Deere & Company (NYSE:DEGet 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

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Hemington Wealth Management boosted its holdings in shares of Deere & Company by 7.4% in the 4th quarter. Hemington Wealth Management now owns 438 shares of the industrial products company’s stock worth $185,000 after buying an additional 30 shares during the last quarter. Ingalls & Snyder LLC boosted its position in Deere & Company by 1.1% during the fourth quarter. Ingalls & Snyder LLC now owns 61,095 shares of the industrial products company’s stock worth $25,886,000 after purchasing an additional 654 shares during the period. Marks Group Wealth Management Inc boosted its position in Deere & Company by 0.8% during the fourth quarter. Marks Group Wealth Management Inc now owns 3,156 shares of the industrial products company’s stock worth $1,337,000 after purchasing an additional 26 shares during the period. Lester Murray Antman dba SimplyRich boosted its position in Deere & Company by 8.7% during the fourth quarter. Lester Murray Antman dba SimplyRich now owns 1,024 shares of the industrial products company’s stock worth $433,000 after purchasing an additional 82 shares during the period. Finally, Avidian Wealth Enterprises LLC lifted its holdings in shares of Deere & Company by 4.5% in the fourth quarter. Avidian Wealth Enterprises LLC now owns 1,119 shares of the industrial products company’s stock worth $474,000 after buying an additional 48 shares in the last quarter. Institutional investors own 68.58% of the company’s stock.

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:DEGet 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

(Get Free Report)

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

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