Deere & Company (NYSE:DE - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Wednesday after Oppenheimer raised their price target on the stock from $477.00 to $507.00. Oppenheimer currently has an outperform rating on the stock. Deere & Company traded as high as $485.84 and last traded at $480.59, with a volume of 1642397 shares changing hands. The stock had previously closed at $484.15.
Several other brokerages also recently weighed in on DE. UBS Group upped their target price on shares of Deere & Company from $404.00 to $462.00 and gave the company a "neutral" rating in a research note on Friday, November 22nd. Citigroup dropped their target price on Deere & Company from $470.00 to $430.00 and set a "neutral" rating on the stock in a research report on Tuesday, January 14th. Truist Financial increased their price target on Deere & Company from $538.00 to $550.00 and gave the stock a "buy" rating in a research note on Thursday, December 19th. Barclays upped their price objective on shares of Deere & Company from $400.00 to $475.00 and gave the stock an "overweight" rating in a report on Friday, November 22nd. Finally, JPMorgan Chase & Co. increased their target price on shares of Deere & Company from $450.00 to $470.00 and gave the company a "neutral" rating in a research report on Wednesday, January 15th. Eleven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $444.50.
Check Out Our Latest Analysis on DE
Institutional Investors Weigh In On Deere & Company
Several hedge funds have recently added to or reduced their stakes in the business. Quadrant Private Wealth Management LLC grew its stake in shares of Deere & Company by 11.8% in the fourth quarter. Quadrant Private Wealth Management LLC now owns 1,014 shares of the industrial products company's stock worth $431,000 after purchasing an additional 107 shares during the last quarter. Valeo Financial Advisors LLC raised its holdings in shares of Deere & Company by 0.3% in the 4th quarter. Valeo Financial Advisors LLC now owns 8,019 shares of the industrial products company's stock worth $3,398,000 after purchasing an additional 24 shares during the period. Asset Planning Inc purchased a new stake in Deere & Company during the fourth quarter valued at about $51,000. Banque Pictet & Cie SA grew its stake in Deere & Company by 2.0% in 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 buying an additional 1,500 shares in the last quarter. Finally, V Square Quantitative Management LLC lifted its stake in Deere & Company by 1.2% in the 4th quarter. V Square Quantitative Management LLC now owns 4,914 shares of the industrial products company's stock worth $2,082,000 after purchasing an additional 60 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company's stock.
Deere & Company Price Performance
The company has a current ratio of 2.09, a quick ratio of 1.90 and a debt-to-equity ratio of 1.89. The company has a market capitalization of $131.11 billion, a P/E ratio of 18.79, a P/E/G ratio of 2.84 and a beta of 0.98. The business's fifty day moving average price is $443.22 and its 200-day moving average price is $408.60.
Deere & Company (NYSE:DE - Get Free Report) last posted its quarterly 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. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The company had revenue of $9.28 billion during the quarter, compared to analyst estimates of $9.20 billion. During the same period in the prior year, the business posted $8.26 EPS. The firm's revenue was down 32.8% compared to the same quarter last year. As a group, sell-side analysts predict that Deere & Company will post 19.34 earnings per share for the current fiscal year.
Deere & Company Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st will be paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date is Tuesday, December 31st. This is a boost from Deere & Company's previous quarterly dividend of $1.47. Deere & Company's dividend payout ratio (DPR) is presently 25.31%.
About Deere & Company
(
Get Free Report)
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.
See Also
Before you consider Deere & Company, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Deere & Company wasn't on the list.
While Deere & Company currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Discover the next wave of investment opportunities with our report, 7 Stocks That Will Be Magnificent in 2025. Explore companies poised to replicate the growth, innovation, and value creation of the tech giants dominating today's markets.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
