Deere & Company (NYSE:DE) Price Target Raised to $455.00 at Evercore ISI

Deere & Company (NYSE:DE - Free Report) had its target price hoisted by Evercore ISI from $437.00 to $455.00 in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have an in-line rating on the industrial products company's stock.

Other equities research analysts have also issued reports about the stock. Oppenheimer upped their price objective on shares of Deere & Company from $477.00 to $507.00 and gave the company an "outperform" rating in a research note on Tuesday, January 28th. Morgan Stanley boosted their target price on shares of Deere & Company from $401.00 to $450.00 and gave the company an "overweight" rating in a research report on Monday, November 25th. Truist Financial reiterated a "buy" rating and set a $546.00 target price (down previously from $550.00) on shares of Deere & Company in a research report on Friday, February 14th. Citigroup boosted their target price on shares of Deere & Company from $430.00 to $480.00 and gave the company a "neutral" rating in a research report on Friday, February 14th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Deere & Company from $470.00 to $500.00 and gave the company a "neutral" rating in a research report on Monday, February 10th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Deere & Company presently has an average rating of "Hold" and an average price target of $454.65.

Deere & Company Trading Down 1.2 %

Shares of NYSE:DE traded down $5.81 during trading on Wednesday, reaching $489.98. The stock had a trading volume of 1,074,442 shares, compared to its average volume of 1,464,875. The firm's fifty day moving average is $451.08 and its 200 day moving average is $419.90. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.98 and a current ratio of 2.22. Deere & Company has a 52 week low of $340.20 and a 52 week high of $515.05. The stock has a market cap of $133.45 billion, a price-to-earnings ratio of 21.72, a P/E/G ratio of 2.20 and a beta of 0.98.

Deere & Company (NYSE:DE - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The industrial products company reported $3.19 EPS for the quarter, beating analysts' consensus estimates of $3.14 by $0.05. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. As a group, equities analysts forecast that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st were issued a dividend of $1.62 per share. This is an increase from Deere & Company's previous quarterly dividend of $1.47. The ex-dividend date was Tuesday, December 31st. This represents a $6.48 annualized dividend and a yield of 1.32%. Deere & Company's dividend payout ratio is presently 28.72%.

Insider Activity

In other news, insider Rajesh Kalathur sold 24,580 shares of the stock in a transaction dated 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 in the company, valued at $37,484,675.58. This represents a 24.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.29% of the stock is currently owned by corporate insiders.

Institutional Trading of Deere & Company

Several institutional investors and hedge funds have recently made changes to their positions in DE. Ledyard National Bank grew its position in Deere & Company by 3.3% during the third quarter. Ledyard National Bank now owns 1,231 shares of the industrial products company's stock valued at $514,000 after buying an additional 39 shares during the period. Calton & Associates Inc. bought a new position in Deere & Company during the third quarter valued at about $270,000. Fortis Group Advisors LLC grew its position in Deere & Company by 357.8% during the third quarter. Fortis Group Advisors LLC now owns 618 shares of the industrial products company's stock valued at $258,000 after buying an additional 483 shares during the period. Sequoia Financial Advisors LLC grew its position in Deere & Company by 153.4% during the third quarter. Sequoia Financial Advisors LLC now owns 15,077 shares of the industrial products company's stock valued at $6,292,000 after buying an additional 9,128 shares during the period. Finally, Eastern Bank grew its position in Deere & Company by 293.7% during the third quarter. Eastern Bank now owns 4,059 shares of the industrial products company's stock valued at $1,694,000 after buying an additional 3,028 shares during the period. 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.