Deere & Company (NYSE:DE) Price Target Lowered to $495.00 at JPMorgan Chase & Co.

Deere & Company (NYSE:DE) had its price target reduced by JPMorgan Chase & Co. from $500.00 to $495.00 in a report published on Tuesday,Benzinga reports. They currently have a neutral rating on the industrial products company’s stock.

DE has been the topic of several other research reports. Wall Street Zen upgraded shares of Deere & Company from a “sell” rating to a “hold” rating in a report on Sunday, August 24th. Melius Research upgraded shares of Deere & Company from a “hold” rating to a “strong-buy” rating in a report on Friday, June 6th. Raymond James Financial boosted their target price on shares of Deere & Company from $530.00 to $560.00 and gave the company an “outperform” rating in a report on Friday, May 16th. Robert W. Baird dropped their target price on shares of Deere & Company from $520.00 to $488.00 and set a “neutral” rating on the stock in a report on Friday, August 15th. Finally, BMO Capital Markets restated a “market perform” rating and issued a $460.00 target price (up previously from $425.00) on shares of Deere & Company in a report on Wednesday, May 21st. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Deere & Company currently has a consensus rating of “Moderate Buy” and a consensus target price of $520.87.

Deere & Company Price Performance

Shares of NYSE:DE opened at $476.18 on Tuesday. The firm has a market cap of $128.73 billion, a PE ratio of 24.89, a price-to-earnings-growth ratio of 3.07 and a beta of 1.00. The firm’s fifty day moving average is $503.57 and its 200-day moving average is $491.27. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.98 and a current ratio of 2.19. Deere & Company has a 52 week low of $378.66 and a 52 week high of $533.78.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, August 14th. The industrial products company reported $4.75 EPS for the quarter, topping analysts’ consensus estimates of $4.62 by $0.13. The company had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.33 billion. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. Deere & Company’s revenue was down 9.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $6.29 earnings per share. Sell-side analysts predict that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Tuesday, September 30th will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Tuesday, September 30th. Deere & Company’s payout ratio is 33.87%.

Institutional Investors Weigh In On Deere & Company

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Southland Equity Partners LLC increased its position in shares of Deere & Company by 3.9% during the second quarter. Southland Equity Partners LLC now owns 534 shares of the industrial products company’s stock worth $271,000 after acquiring an additional 20 shares in the last quarter. Vivid Wealth Management LLC increased its position in shares of Deere & Company by 1.9% during the second quarter. Vivid Wealth Management LLC now owns 1,088 shares of the industrial products company’s stock worth $553,000 after acquiring an additional 20 shares in the last quarter. Werba Rubin Papier Wealth Management increased its position in shares of Deere & Company by 3.0% during the second quarter. Werba Rubin Papier Wealth Management now owns 676 shares of the industrial products company’s stock worth $344,000 after acquiring an additional 20 shares in the last quarter. Prairie Wealth Advisors Inc. increased its position in shares of Deere & Company by 2.1% during the second quarter. Prairie Wealth Advisors Inc. now owns 964 shares of the industrial products company’s stock worth $492,000 after acquiring an additional 20 shares in the last quarter. Finally, Chicago Partners Investment Group LLC increased its position in shares of Deere & Company by 1.2% during the first quarter. Chicago Partners Investment Group LLC now owns 1,803 shares of the industrial products company’s stock worth $852,000 after acquiring an additional 21 shares in the last quarter. 68.58% of the stock is owned by institutional investors.

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.