Deere & Company (NYSE:DE) Price Target Raised to $540.00

Deere & Company (NYSE:DE) had its price target upped by JPMorgan Chase & Co. from $490.00 to $540.00 in a research note published on Friday,Benzinga reports. They currently have a neutral rating on the industrial products company’s stock.

DE has been the subject of several other reports. Oppenheimer boosted their price objective on shares of Deere & Company from $510.00 to $513.00 and gave the company an “outperform” rating in a research report on Tuesday, April 22nd. Argus set a $510.00 price objective on shares of Deere & Company in a research note on Friday, March 7th. Truist Financial reissued a “buy” rating and issued a $546.00 price objective (down previously from $550.00) on shares of Deere & Company in a research note on Friday, February 14th. UBS Group dropped their target price on shares of Deere & Company from $462.00 to $440.00 and set a “neutral” rating on the stock in a report on Monday, April 7th. Finally, StockNews.com upgraded shares of Deere & Company from a “sell” rating to a “hold” rating in a report on Tuesday, May 13th. Thirteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $504.38.

Deere & Company Price Performance

Deere & Company stock opened at $531.79 on Friday. Deere & Company has a 12 month low of $340.20 and a 12 month high of $533.78. The stock’s 50 day moving average is $468.29 and its 200-day moving average is $455.02. The company has a current ratio of 2.22, a quick ratio of 1.98 and a debt-to-equity ratio of 1.94. The company has a market capitalization of $144.34 billion, a price-to-earnings ratio of 23.57, a PEG ratio of 2.14 and a beta of 1.08.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.72 by $0.92. The firm had revenue of $11.17 billion for the quarter, compared to analyst estimates of $10.80 billion. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. The business’s revenue was down 17.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $8.53 EPS. Equities research analysts expect that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 8th. Investors of record on Monday, March 31st were issued a $1.62 dividend. The ex-dividend date was Monday, March 31st. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.22%. Deere & Company’s dividend payout ratio is presently 28.72%.

Insider Buying and Selling at Deere & Company

In other Deere & Company news, insider Rajesh Kalathur sold 24,580 shares of the stock in a transaction dated Tuesday, February 18th. The shares were 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 approximately $37,484,675.58. This trade represents a 24.71% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.29% of the company’s stock.

Institutional Investors Weigh In On Deere & Company

Several large investors have recently modified their holdings of DE. Compass Financial Services Inc purchased a new stake in shares of Deere & Company during the 4th quarter worth approximately $254,000. Banque Pictet & Cie SA lifted its holdings in shares of Deere & Company by 2.0% during the 4th quarter. Banque Pictet & Cie SA now owns 78,274 shares of the industrial products company’s stock worth $33,165,000 after acquiring an additional 1,500 shares during the last quarter. Spectrum Financial Alliance Ltd LLC lifted its holdings in shares of Deere & Company by 2.9% during the 4th quarter. Spectrum Financial Alliance Ltd LLC now owns 49,613 shares of the industrial products company’s stock worth $21,021,000 after acquiring an additional 1,407 shares during the last quarter. Generali Investments CEE investicni spolecnost a.s. bought a new stake in Deere & Company in the fourth quarter worth $847,000. Finally, BankPlus Trust Department bought a new stake in Deere & Company in the fourth quarter worth $1,127,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

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.