Shares of Deere & Company (NYSE:DE - Get Free Report) reached a new 52-week high on Thursday . The company traded as high as $472.90 and last traded at $472.41, with a volume of 328167 shares trading hands. The stock had previously closed at $459.75.
Analysts Set New Price Targets
Several equities research analysts recently issued reports on the stock. Jefferies Financial Group lowered shares of Deere & Company from a "buy" rating to a "hold" rating and set a $510.00 target price for the company. in a report on Friday, December 6th. Citigroup decreased their price objective on shares of Deere & Company from $470.00 to $430.00 and set a "neutral" rating on the stock in a research report on Tuesday, January 14th. Oppenheimer upped their target price on shares of Deere & Company from $448.00 to $477.00 and gave the stock an "outperform" rating in a report on Friday, November 22nd. UBS Group raised their price target on Deere & Company from $404.00 to $462.00 and gave the company a "neutral" rating in a report on Friday, November 22nd. Finally, Morgan Stanley increased their target price on Deere & Company from $401.00 to $450.00 and gave the stock an "overweight" rating in a research report on Monday, November 25th. Eleven analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $442.83.
Get Our Latest Stock Analysis on Deere & Company
Deere & Company Price Performance
The firm has a market cap of $130.43 billion, a P/E ratio of 18.71, a PEG ratio of 2.84 and a beta of 0.98. The company has a debt-to-equity ratio of 1.89, a current ratio of 2.09 and a quick ratio of 1.90. The stock's 50-day simple moving average is $438.55 and its two-hundred day simple moving average is $405.66.
Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $9.20 billion. During the same period in the prior year, the firm posted $8.26 EPS. The firm's revenue was down 32.8% compared to the same quarter last year. Equities research analysts forecast that Deere & Company will post 19.34 earnings per share for the current fiscal year.
Deere & Company Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Tuesday, December 31st will be issued a dividend of $1.62 per share. The ex-dividend date is Tuesday, December 31st. This represents a $6.48 dividend on an annualized basis and a yield of 1.35%. This is a boost from Deere & Company's previous quarterly dividend of $1.47. Deere & Company's payout ratio is presently 25.31%.
Hedge Funds Weigh In On Deere & Company
A number of hedge funds have recently added to or reduced their stakes in DE. DLK Investment Management LLC grew its holdings in Deere & Company by 0.3% during the 4th quarter. DLK Investment Management LLC now owns 8,212 shares of the industrial products company's stock worth $3,479,000 after acquiring an additional 24 shares in the last quarter. Mattern Wealth Management LLC boosted its stake in shares of Deere & Company by 1.3% during the third quarter. Mattern Wealth Management LLC now owns 1,884 shares of the industrial products company's stock valued at $786,000 after purchasing an additional 25 shares in the last quarter. Carret Asset Management LLC increased its holdings in Deere & Company by 0.3% during the third quarter. Carret Asset Management LLC now owns 8,148 shares of the industrial products company's stock valued at $3,401,000 after buying an additional 25 shares during the period. Round Rock Advisors LLC raised its stake in Deere & Company by 2.0% in the third quarter. Round Rock Advisors LLC now owns 1,252 shares of the industrial products company's stock worth $522,000 after buying an additional 25 shares in the last quarter. Finally, Douglas Lane & Associates LLC lifted its holdings in Deere & Company by 4.7% during the fourth quarter. Douglas Lane & Associates LLC now owns 557 shares of the industrial products company's stock worth $236,000 after buying an additional 25 shares during the period. 68.58% of the stock is currently owned by institutional investors.
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.
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