Truist Financial Raises Deere & Company (NYSE:DE) Price Target to $550.00

Deere & Company (NYSE:DE - Free Report) had its price objective hoisted by Truist Financial from $538.00 to $550.00 in a research report report published on Thursday,Benzinga reports. They currently have a buy rating on the industrial products company's stock.

Several other research firms also recently commented on DE. UBS Group upped their target price on Deere & Company from $404.00 to $462.00 and gave the company a "neutral" rating in a research report on Friday, November 22nd. Jefferies Financial Group cut Deere & Company from a "buy" rating to a "hold" rating and set a $510.00 price objective on the stock. in a research report on Friday, December 6th. Citigroup boosted their target price on shares of Deere & Company from $460.00 to $470.00 and gave the company a "neutral" rating in a research report on Monday, December 9th. Barclays raised their price target on shares of Deere & Company from $400.00 to $475.00 and gave the stock an "overweight" rating in a research report on Friday, November 22nd. Finally, Morgan Stanley boosted their price objective 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. Thirteen research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $443.94.

Deere & Company Stock Performance

DE stock traded up $0.63 during midday trading on Thursday, reaching $426.63. 1,757,157 shares of the company were exchanged, compared to its average volume of 1,438,242. Deere & Company has a one year low of $340.20 and a one year high of $469.39. The firm has a market capitalization of $115.86 billion, a price-to-earnings ratio of 16.67, a price-to-earnings-growth ratio of 1.91 and a beta of 0.96. The business has a 50-day moving average price of $422.95 and a two-hundred day moving average price of $394.29. The company has a debt-to-equity ratio of 1.89, a current ratio of 2.09 and a quick ratio of 1.90.

Deere & Company (NYSE:DE - Get Free Report) last announced its earnings results on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, topping the consensus estimate of $3.89 by $0.66. The business had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.20 billion. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. Deere & Company's revenue was down 32.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $8.26 EPS. Equities research analysts forecast that Deere & Company will post 19.52 EPS for the current year.

Deere & Company Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st will be issued a $1.62 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.52%. This is a boost from Deere & Company's previous quarterly dividend of $1.47. Deere & Company's dividend payout ratio is 25.31%.

Institutional Investors Weigh In On Deere & Company

Several hedge funds and other institutional investors have recently made changes to their positions in DE. Fairscale Capital LLC acquired a new position in Deere & Company in the 2nd quarter worth about $26,000. Livelsberger Financial Advisory bought a new stake in shares of Deere & Company during the third quarter worth about $32,000. Centennial Bank AR increased its stake in shares of Deere & Company by 420.0% in the second quarter. Centennial Bank AR now owns 104 shares of the industrial products company's stock valued at $39,000 after buying an additional 84 shares during the period. Continuum Advisory LLC raised its holdings in Deere & Company by 155.8% in the 3rd quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company's stock valued at $43,000 after buying an additional 67 shares during the last quarter. Finally, Briaud Financial Planning Inc boosted its position in Deere & Company by 73.5% during the 2nd quarter. Briaud Financial Planning Inc now owns 118 shares of the industrial products company's stock worth $44,000 after buying an additional 50 shares during the period. 68.58% of the stock is owned by institutional investors.

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.