Deere & Company (NYSE:DE) Price Target Raised to $560.00

Deere & Company (NYSE:DE) had its price target lifted by Raymond James from $530.00 to $560.00 in a report issued on Friday,Benzinga reports. They currently have an outperform rating on the industrial products company’s stock.

DE has been the topic of several other research reports. Truist Financial reissued a “buy” rating and set a $546.00 price objective (down previously from $550.00) on shares of Deere & Company in a research note on Friday, February 14th. Citigroup dropped their price objective on shares of Deere & Company from $480.00 to $450.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 8th. Barclays boosted their price objective on shares of Deere & Company from $475.00 to $530.00 and gave the stock an “overweight” rating in a research note on Friday. Baird R W downgraded shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 3rd. Finally, JPMorgan Chase & Co. upped their target price on shares of Deere & Company from $490.00 to $540.00 and gave the stock a “neutral” rating in a research note on Friday. Thirteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Deere & Company currently has an average rating of “Hold” and a consensus price target of $504.38.

Deere & Company Price Performance

Shares of NYSE DE opened at $531.79 on Friday. Deere & Company has a 1 year low of $340.20 and a 1 year high of $533.78. 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 company’s 50-day moving average is $468.29 and its 200 day moving average is $455.02. The stock has a market capitalization of $144.34 billion, a P/E ratio of 23.57, a P/E/G ratio of 2.14 and a beta of 1.08.

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

Deere & Company Dividend Announcement

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

Insider Buying and Selling at Deere & Company

In other news, insider Rajesh Kalathur sold 24,580 shares of the stock in a transaction on 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 directly owns 74,878 shares of the company’s stock, valued at $37,484,675.58. This represents a 24.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.29% of the stock is owned by corporate insiders.

Institutional Trading of Deere & Company

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

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.