Deere & Company (NYSE:DE) Given New $420.00 Price Target at JPMorgan Chase & Co.

Deere & Company (NYSE:DE) had its price objective hoisted by JPMorgan Chase & Co. from $360.00 to $420.00 in a report issued on Friday, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the industrial products company’s stock.

DE has been the subject of several other reports. HSBC downgraded Deere & Company from a buy rating to a hold rating in a research note on Monday, August 19th. Citigroup upped their price target on shares of Deere & Company from $395.00 to $420.00 and gave the company a neutral rating in a research note on Wednesday. Oppenheimer dropped their price objective on shares of Deere & Company from $465.00 to $448.00 and set an outperform rating for the company in a research note on Monday, July 22nd. Truist Financial upped their target price on Deere & Company from $443.00 to $496.00 and gave the company a buy rating in a research report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of Deere & Company from $402.00 to $389.00 and set a hold rating for the company in a report on Thursday, August 8th. Twelve investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Hold and a consensus price target of $420.69.

Deere & Company Price Performance

NYSE:DE opened at $411.11 on Friday. The company has a market cap of $113.29 billion, a P/E ratio of 12.38, a P/E/G ratio of 1.35 and a beta of 0.92. The firm’s fifty day moving average price is $387.01 and its two-hundred day moving average price is $385.53. Deere & Company has a one year low of $340.20 and a one year high of $420.47. The company has a debt-to-equity ratio of 1.85, a current ratio of 2.07 and a quick ratio of 1.87.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, beating analysts’ consensus estimates of $5.63 by $0.66. The business had revenue of $11.39 billion for the quarter, compared to analyst estimates of $10.94 billion. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. Deere & Company’s quarterly revenue was down 20.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $10.20 EPS. Equities analysts expect that Deere & Company will post 25.03 earnings per share for the current year.

Deere & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, September 30th will be given a $1.47 dividend. The ex-dividend date is Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.43%. Deere & Company’s dividend payout ratio (DPR) is presently 17.70%.

Hedge Funds Weigh In On Deere & Company

Several hedge funds and other institutional investors have recently bought and sold shares of DE. Fairscale Capital LLC bought a new position in Deere & Company during the second quarter worth $26,000. Pineridge Advisors LLC raised its position in shares of Deere & Company by 725.0% during the first quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 58 shares during the period. Livelsberger Financial Advisory bought a new position in shares of Deere & Company in the 4th quarter worth $30,000. Spartan Planning & Wealth Management acquired a new stake in Deere & Company in the 4th quarter valued at $33,000. Finally, Olistico Wealth LLC bought a new position in shares of Deere & Company in the second quarter valued at $37,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

About Deere & Company

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.