Citigroup Issues Positive Forecast for Deere & Company (NYSE:DE) Stock Price

Deere & Company (NYSE:DE) had its price objective hoisted by Citigroup from $450.00 to $550.00 in a report released on Monday morning,Benzinga reports. The brokerage currently has a neutral rating on the industrial products company’s stock.

DE has been the topic of several other reports. StockNews.com upgraded Deere & Company from a “sell” rating to a “hold” rating in a research report on Tuesday, May 13th. Baird R W cut Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 3rd. Evercore ISI upped their price objective on shares of Deere & Company from $455.00 to $493.00 and gave the stock an “in-line” rating in a research report on Monday. Oppenheimer upped their price objective on shares of Deere & Company from $513.00 to $555.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, Truist Financial upped their price objective on shares of Deere & Company from $546.00 to $619.00 and gave the stock a “buy” rating in a research report on Friday. Thirteen analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Deere & Company currently has a consensus rating of “Hold” and an average target price of $513.00.

Deere & Company Trading Down 0.4%

Shares of DE opened at $529.58 on Monday. The business’s 50-day moving average price is $469.45 and its 200-day moving average price is $455.92. Deere & Company has a twelve month low of $340.20 and a twelve month high of $533.78. The stock has a market cap of $143.74 billion, a PE ratio of 23.47, a P/E/G ratio of 2.14 and a beta of 1.08. The company has a quick ratio of 1.98, a current ratio of 2.22 and a debt-to-equity ratio of 1.94.

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

Deere & Company Announces Dividend

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

Institutional Trading of Deere & Company

Institutional investors have recently made changes to their positions in the stock. Activest Wealth Management boosted its stake in shares of Deere & Company by 2,750.0% during the first quarter. Activest Wealth Management now owns 57 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 55 shares during the period. Pineridge Advisors LLC boosted its stake in shares of Deere & Company by 60.5% during the fourth quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 26 shares during the period. Hughes Financial Services LLC purchased a new stake in shares of Deere & Company during the first quarter valued at approximately $29,000. Cornerstone Planning Group LLC boosted its stake in shares of Deere & Company by 116.1% during the first quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 36 shares during the period. Finally, YANKCOM Partnership purchased a new stake in shares of Deere & Company during the fourth quarter valued at approximately $34,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

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.