Deere & Company (NYSE:DE) Price Target Raised to $619.00

Deere & Company (NYSE:DE) had its target price increased by Truist Financial from $546.00 to $619.00 in a research note published on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the industrial products company’s stock.

Other equities research analysts have also issued reports about the company. StockNews.com raised Deere & Company from a “sell” rating to a “hold” rating in a research report on Tuesday, May 13th. DA Davidson reaffirmed a “buy” rating and issued a $542.00 price objective on shares of Deere & Company in a research report on Friday. Baird R W downgraded shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 3rd. Bank of America lifted their price target on shares of Deere & Company from $495.00 to $556.00 and gave the stock a “neutral” rating in a report on Friday. Finally, Barclays increased their price objective on Deere & Company from $475.00 to $530.00 and gave the company an “overweight” rating in a report on Friday. Thirteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Deere & Company has a consensus rating of “Hold” and an average price target of $504.38.

Deere & Company Trading Up 3.0%

NYSE DE opened at $531.79 on Friday. 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 business has a fifty day simple moving average of $468.29 and a 200 day simple moving average of $455.02. Deere & Company has a 12 month low of $340.20 and a 12 month high of $533.78. The firm has a market capitalization of $144.34 billion, a P/E ratio of 23.57, a PEG ratio of 2.14 and a beta of 1.08.

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

Deere & Company Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 8th. Investors of record on Monday, March 31st were given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 1.22%. The ex-dividend date of this dividend was Monday, March 31st. Deere & Company’s dividend payout ratio (DPR) is currently 28.72%.

Insider Activity at Deere & Company

In other Deere & Company news, insider Rajesh Kalathur sold 24,580 shares of Deere & Company stock in a transaction that occurred 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 owns 74,878 shares of the company’s stock, valued at approximately $37,484,675.58. The trade was a 24.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.29% of the stock is currently owned by insiders.

Institutional Trading of Deere & Company

A number of hedge funds have recently bought and sold shares of DE. Activest Wealth Management boosted its holdings in shares of Deere & Company by 2,750.0% in the first quarter. Activest Wealth Management now owns 57 shares of the industrial products company’s stock worth $27,000 after buying an additional 55 shares during the last quarter. Pineridge Advisors LLC raised its holdings in 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 period. Hughes Financial Services LLC purchased a new position in Deere & Company during the first quarter valued at $29,000. Cornerstone Planning Group LLC increased its position in Deere & Company by 116.1% in the first quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company’s stock worth $31,000 after buying an additional 36 shares in the last quarter. Finally, YANKCOM Partnership bought a new position in shares of Deere & Company in the fourth quarter worth about $34,000. 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.