JPMorgan Chase & Co. Issues Positive Forecast for Deere & Company (NYSE:DE) Stock Price

Deere & Company (NYSE:DE - Free Report) had its target price upped by JPMorgan Chase & Co. from $420.00 to $450.00 in a report published on Friday morning,Benzinga reports. They currently have a neutral rating on the industrial products company's stock.

Other research analysts have also recently issued research reports about the company. Hsbc Global Res cut Deere & Company from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 19th. Evercore ISI upped their price target on shares of Deere & Company from $371.00 to $378.00 and gave the company an "in-line" rating in a report on Monday, August 19th. Morgan Stanley cut their price objective on Deere & Company from $450.00 to $425.00 and set an "overweight" rating for the company in a research report on Monday, August 26th. BMO Capital Markets started coverage on Deere & Company in a report on Friday, August 9th. They set a "market perform" rating and a $400.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on Deere & Company from $402.00 to $389.00 and set a "hold" rating on the stock in a research report on Thursday, August 8th. Thirteen investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $431.61.

Deere & Company Price Performance

Deere & Company stock traded up $9.11 during midday trading on Friday, reaching $446.65. The company's stock had a trading volume of 2,202,297 shares, compared to its average volume of 1,281,203. The firm has a market capitalization of $122.20 billion, a PE ratio of 17.45, a P/E/G ratio of 1.70 and a beta of 0.93. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $447.50. The stock's 50 day simple moving average is $406.99 and its 200 day simple moving average is $386.49. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.87 and a current ratio of 2.09.

Deere & Company (NYSE:DE - Get Free Report) last announced its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, beating the consensus estimate of $3.90 by $0.65. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The firm had revenue of $9.28 billion during the quarter, compared to analysts' expectations of $9.20 billion. During the same quarter last year, the business earned $8.26 earnings per share. The business's revenue for the quarter was down 32.8% compared to the same quarter last year. On average, equities research analysts forecast that Deere & Company will post 21.41 earnings per share for the current year.

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Monday, September 30th were paid a $1.47 dividend. The ex-dividend date was Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a yield of 1.32%. Deere & Company's dividend payout ratio (DPR) is 22.97%.

Hedge Funds Weigh In On Deere & Company

Several large investors have recently added to or reduced their stakes in the company. Fairscale Capital LLC bought a new stake in shares of Deere & Company in the 2nd quarter worth approximately $26,000. Pineridge Advisors LLC increased its holdings in shares of Deere & Company by 725.0% in the 1st quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company's stock worth $27,000 after acquiring an additional 58 shares during the period. Livelsberger Financial Advisory acquired a new stake in shares of Deere & Company in the 3rd quarter worth about $32,000. Olistico Wealth LLC bought a new stake in Deere & Company in the 2nd quarter valued at about $37,000. Finally, Centennial Bank AR boosted its stake in Deere & Company by 420.0% during the 2nd quarter. Centennial Bank AR now owns 104 shares of the industrial products company's stock valued at $39,000 after purchasing an additional 84 shares during the period. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Company Profile

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.