Deere & Company (NYSE:DE) Price Target Increased to $420.00 by Analysts at JPMorgan Chase & Co.

Deere & Company (NYSE:DE) had its price objective lifted by JPMorgan Chase & Co. from $360.00 to $420.00 in a report published on Friday, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the industrial products company’s stock.

Several other research firms have also recently commented on DE. Bank of America lifted their target price on shares of Deere & Company from $400.00 to $410.00 and gave the stock a neutral rating in a research report on Friday, August 16th. Evercore ISI lifted their target price on shares of Deere & Company from $371.00 to $378.00 and gave the stock an in-line rating in a research report on Monday, August 19th. Truist Financial lifted their target price on shares of Deere & Company from $443.00 to $496.00 and gave the stock a buy rating in a research report on Wednesday, October 9th. Morgan Stanley decreased their price target on shares of Deere & Company from $450.00 to $425.00 and set an overweight rating for the company in a research note on Monday, August 26th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of Deere & Company from $402.00 to $389.00 and set a hold rating for the company in a research note on Thursday, August 8th. Twelve analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of Hold and an average target price of $420.69.

Deere & Company Price Performance

Shares of NYSE DE opened at $407.72 on Friday. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $420.47. The stock has a market cap of $112.36 billion, a price-to-earnings ratio of 12.27, a PEG ratio of 1.35 and a beta of 0.92. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.87 and a current ratio of 2.07. The firm’s 50-day simple moving average is $388.27 and its 200 day simple moving average is $385.25.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, topping the consensus estimate of $5.63 by $0.66. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The firm had revenue of $11.39 billion for the quarter, compared to analysts’ expectations of $10.94 billion. During the same quarter last year, the firm earned $10.20 EPS. The company’s quarterly revenue was down 20.3% compared to the same quarter last year. As a group, research analysts anticipate that Deere & Company will post 25.03 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Monday, September 30th will be paid a $1.47 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a yield of 1.44%. Deere & Company’s dividend payout ratio is 17.70%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of DE. Vanguard Group Inc. increased its holdings in shares of Deere & Company by 1.2% in the first quarter. Vanguard Group Inc. now owns 21,988,363 shares of the industrial products company’s stock worth $9,031,500,000 after purchasing an additional 263,709 shares during the period. Janus Henderson Group PLC increased its holdings in shares of Deere & Company by 0.5% in the first quarter. Janus Henderson Group PLC now owns 3,859,021 shares of the industrial products company’s stock worth $1,585,028,000 after purchasing an additional 19,200 shares during the period. Legal & General Group Plc increased its holdings in shares of Deere & Company by 2.7% in the second quarter. Legal & General Group Plc now owns 2,254,266 shares of the industrial products company’s stock worth $842,259,000 after purchasing an additional 60,255 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Deere & Company by 15.0% in the second quarter. Dimensional Fund Advisors LP now owns 2,146,441 shares of the industrial products company’s stock worth $802,037,000 after purchasing an additional 279,627 shares during the period. Finally, Fisher Asset Management LLC grew its position in Deere & Company by 11.3% in the fourth quarter. Fisher Asset Management LLC now owns 1,481,458 shares of the industrial products company’s stock worth $592,391,000 after acquiring an additional 150,713 shares in the last quarter. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

About Deere & Company

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.