Deere & Company (NYSE:DE - Free Report) had its price objective raised by Oppenheimer from $477.00 to $507.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have an outperform rating on the industrial products company's stock.
A number of other analysts have also issued reports on DE. Barclays raised their target price 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. Morgan Stanley upped their target price on shares of Deere & Company from $401.00 to $450.00 and gave the company an "overweight" rating in a research note on Monday, November 25th. JPMorgan Chase & Co. upped their target price on Deere & Company from $450.00 to $470.00 and gave the company a "neutral" rating in a research report on Wednesday, January 15th. Truist Financial raised their price target on shares of Deere & Company from $538.00 to $550.00 and gave the stock a "buy" rating in a research report on Thursday, December 19th. Finally, Citigroup reduced 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 note on Tuesday, January 14th. Eleven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $444.50.
Check Out Our Latest Analysis on DE
Deere & Company Stock Performance
Deere & Company stock traded down $3.70 during midday trading on Tuesday, hitting $476.29. 840,872 shares of the company's stock were exchanged, compared to its average volume of 1,348,862. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.90 and a current ratio of 2.09. The stock has a market cap of $129.72 billion, a price-to-earnings ratio of 18.61, a price-to-earnings-growth ratio of 2.95 and a beta of 0.98. Deere & Company has a 12-month low of $340.20 and a 12-month high of $485.84. The firm's 50 day simple moving average is $444.09 and its 200 day simple moving average is $409.10.
Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.89 by $0.66. The business had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.20 billion. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The business's revenue was down 32.8% compared to the same quarter last year. During the same period in the previous year, the business posted $8.26 earnings per share. Equities research analysts predict that Deere & Company will post 19.38 EPS for the current year.
Deere & Company Increases Dividend
The business also recently declared 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. This is a boost from Deere & Company's previous quarterly dividend of $1.47. This represents a $6.48 annualized dividend and a dividend yield of 1.36%. The ex-dividend date of this dividend is Tuesday, December 31st. Deere & Company's dividend payout ratio (DPR) is currently 25.31%.
Institutional Inflows and Outflows
Several large investors have recently added to or reduced their stakes in DE. Ascent Group LLC lifted its position in Deere & Company by 11.6% during the 2nd quarter. Ascent Group LLC now owns 1,620 shares of the industrial products company's stock worth $605,000 after acquiring an additional 168 shares during the last quarter. Magnolia Capital Advisors LLC bought a new position in shares of Deere & Company during the 2nd quarter worth about $615,000. NewEdge Advisors LLC raised its position in shares of Deere & Company by 2.6% during the second quarter. NewEdge Advisors LLC now owns 19,150 shares of the industrial products company's stock valued at $7,155,000 after buying an additional 493 shares during the last quarter. Kimelman & Baird LLC bought a new stake in shares of Deere & Company in the second quarter valued at about $102,000. Finally, EP Wealth Advisors LLC grew its position in Deere & Company by 76.1% during the second quarter. EP Wealth Advisors LLC now owns 5,069 shares of the industrial products company's stock worth $1,894,000 after buying an additional 2,190 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company's stock.
Deere & Company Company Profile
(
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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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