Deere & Company (NYSE:DE) Receives $444.50 Average PT from Analysts

Deere & Company (NYSE:DE) has earned a consensus rating of “Hold” from the twenty research firms that are presently covering the firm, MarketBeat.com reports. Eleven research analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $446.17.

Several research firms recently commented on DE. Citigroup reduced their price target on shares of Deere & Company from $470.00 to $430.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. Morgan Stanley increased their price target on shares of Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a report on Monday, November 25th. Oppenheimer upped their price target on shares of Deere & Company from $477.00 to $507.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. Truist Financial raised their target price on shares of Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Finally, JPMorgan Chase & Co. upped their price objective on Deere & Company from $470.00 to $500.00 and gave the stock a “neutral” rating in a report on Monday.

Deere & Company Stock Up 0.5 %

DE stock opened at $476.53 on Friday. Deere & Company has a one year low of $340.20 and a one year high of $485.84. The firm’s 50 day moving average price is $445.46 and its 200-day moving average price is $414.70. The firm has a market cap of $129.78 billion, a PE ratio of 18.61, a PEG ratio of 2.87 and a beta of 0.98. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.90 and a current ratio of 2.09.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, beating analysts’ consensus estimates of $3.89 by $0.66. The company had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9.20 billion. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. During the same period last year, the business posted $8.26 EPS. Deere & Company’s revenue for the quarter was down 32.8% on a year-over-year basis. On average, equities research analysts anticipate that Deere & Company will post 19.38 EPS for the current year.

Deere & Company Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st were issued a dividend of $1.62 per share. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. This represents a $6.48 annualized dividend and a dividend yield of 1.36%. The ex-dividend date of this dividend was Tuesday, December 31st. Deere & Company’s payout ratio is 25.31%.

Hedge Funds Weigh In On Deere & Company

Hedge funds have recently made changes to their positions in the stock. Wellington Management Group LLP raised its holdings in shares of Deere & Company by 32.0% during the third quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company’s stock valued at $3,068,404,000 after purchasing an additional 1,782,984 shares during the period. Geode Capital Management LLC boosted its holdings in Deere & Company by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 5,305,571 shares of the industrial products company’s stock worth $2,247,216,000 after acquiring an additional 97,203 shares during the last quarter. FMR LLC grew its position in Deere & Company by 27.8% in the 3rd quarter. FMR LLC now owns 4,542,013 shares of the industrial products company’s stock worth $1,895,518,000 after purchasing an additional 988,380 shares in the last quarter. Norges Bank purchased a new stake in shares of Deere & Company during the fourth quarter valued at approximately $1,244,094,000. Finally, Fisher Asset Management LLC increased its position in shares of Deere & Company by 8.1% during the 4th quarter. Fisher Asset Management LLC now owns 2,155,613 shares of the industrial products company’s stock valued at $913,334,000 after purchasing an additional 160,956 shares during the last quarter. 68.58% of the stock is currently owned by 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.