Deere & Company (NYSE:DE) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Deere & Company (NYSE:DE - Free Report) had its price objective boosted by Morgan Stanley from $450.00 to $500.00 in a research note released on Wednesday, MarketBeat Ratings reports. Morgan Stanley currently has an overweight rating on the industrial products company's stock.

Several other brokerages have also issued reports on DE. Oppenheimer increased their price target on shares of Deere & Company from $477.00 to $507.00 and gave the stock an "outperform" rating in a research note on Tuesday, January 28th. Evercore ISI raised their price target on Deere & Company from $437.00 to $455.00 and gave the stock an "in-line" rating in a research note on Wednesday, February 19th. Baird R W lowered shares of Deere & Company from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 3rd. Truist Financial restated a "buy" rating and set a $546.00 target price (down from $550.00) on shares of Deere & Company in a research report on Friday, February 14th. Finally, Citigroup reduced their price objective on Deere & Company from $480.00 to $450.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $459.89.

Deere & Company Trading Down 0.1 %

DE traded down $0.36 during trading on Wednesday, hitting $452.06. 1,044,813 shares of the stock traded hands, compared to its average volume of 1,426,154. The firm has a 50-day moving average of $469.77 and a 200 day moving average of $444.52. Deere & Company has a 12-month low of $340.20 and a 12-month high of $515.05. The firm has a market capitalization of $122.70 billion, a P/E ratio of 20.04, a price-to-earnings-growth ratio of 2.14 and a beta of 1.00. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.22 and a quick ratio of 1.98.

Deere & Company (NYSE:DE - Get Free Report) last posted its earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.14 by $0.05. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. Equities research analysts anticipate that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 8th. Stockholders of record on Monday, March 31st will be issued a $1.62 dividend. The ex-dividend date is Monday, March 31st. This represents a $6.48 annualized dividend and a dividend yield of 1.43%. Deere & Company's dividend payout ratio (DPR) is presently 28.72%.

Insider Buying and Selling

In related news, insider Rajesh Kalathur sold 24,580 shares of the firm's 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 transaction, the insider now owns 74,878 shares of the company's stock, valued at $37,484,675.58. This trade represents a 24.71 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.29% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Everence Capital Management Inc. raised its holdings in Deere & Company by 148.3% in the fourth quarter. Everence Capital Management Inc. now owns 12,223 shares of the industrial products company's stock worth $5,179,000 after purchasing an additional 7,300 shares in the last quarter. Compass Financial Services Inc purchased a new position in Deere & Company in the fourth quarter worth $254,000. Czech National Bank increased its position in shares of Deere & Company by 5.7% during the fourth quarter. Czech National Bank now owns 55,170 shares of the industrial products company's stock worth $23,376,000 after purchasing an additional 2,964 shares in the last quarter. Banque Pictet & Cie SA lifted its holdings in shares of Deere & Company by 2.0% during the 4th quarter. Banque Pictet & Cie SA now owns 78,274 shares of the industrial products company's stock valued at $33,165,000 after purchasing an additional 1,500 shares during the last quarter. Finally, Spectrum Financial Alliance Ltd LLC grew its stake in Deere & Company by 2.9% during the 4th quarter. Spectrum Financial Alliance Ltd LLC now owns 49,613 shares of the industrial products company's stock worth $21,021,000 after buying an additional 1,407 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.