Deere & Company (NYSE:DE) Price Target Raised to $513.00

Deere & Company (NYSE:DE) had its target price upped by Oppenheimer from $510.00 to $513.00 in a report published on Tuesday,Benzinga reports. They currently have an outperform rating on the industrial products company’s stock.

DE has been the subject of a number of other reports. UBS Group lowered their price target on Deere & Company from $462.00 to $440.00 and set a “neutral” rating for the company in a report on Monday, April 7th. Baird R W lowered shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 3rd. Robert W. Baird restated a “neutral” rating and issued a $501.00 price target on shares of Deere & Company in a research report on Monday, March 3rd. Argus set a $510.00 price target on shares of Deere & Company in a report on Friday, March 7th. Finally, Evercore ISI increased their price objective on shares of Deere & Company from $437.00 to $455.00 and gave the stock an “in-line” rating in a research note on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $460.21.

Deere & Company Stock Up 1.6 %

Shares of Deere & Company stock opened at $463.84 on Tuesday. Deere & Company has a 1-year low of $340.20 and a 1-year high of $515.05. The company has a market capitalization of $125.89 billion, a PE ratio of 20.56, a P/E/G ratio of 2.14 and a beta of 1.00. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.22 and a quick ratio of 1.98. The business has a 50-day moving average of $468.06 and a 200-day moving average of $445.75.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share for the quarter, topping analysts’ consensus estimates of $3.14 by $0.05. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. As a group, equities analysts forecast that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 8th. Shareholders of record on Monday, March 31st will be given a dividend of $1.62 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.40%. Deere & Company’s dividend payout ratio (DPR) is 28.72%.

Insider Activity

In other news, insider Rajesh Kalathur sold 24,580 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $500.61, for a total value of $12,304,993.80. Following the completion of the sale, the insider now owns 74,878 shares in the company, valued at $37,484,675.58. This represents a 24.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.29% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Pineridge Advisors LLC grew its stake in shares of Deere & Company by 60.5% in the 4th quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 26 shares during the last quarter. Modus Advisors LLC acquired a new position in Deere & Company in the fourth quarter worth approximately $32,000. YANKCOM Partnership acquired a new position in Deere & Company in the fourth quarter worth approximately $34,000. Orion Capital Management LLC bought a new position in shares of Deere & Company in the fourth quarter valued at $34,000. Finally, Synergy Asset Management LLC acquired a new stake in shares of Deere & Company during the 4th quarter valued at $35,000. 68.58% of the stock is owned by institutional investors and hedge funds.

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.