Deere & Company (NYSE:DE) Price Target Raised to $507.00 at Oppenheimer

Deere & Company (NYSE:DE - Free Report) had its target price boosted by Oppenheimer from $477.00 to $507.00 in a report issued on Tuesday,Benzinga reports. They currently have an outperform rating on the industrial products company's stock.

Several other analysts have also recently issued reports on the company. 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 note on Friday, December 6th. JPMorgan Chase & Co. upped their price target on Deere & Company from $450.00 to $470.00 and gave the company a "neutral" rating in a research report on Wednesday, January 15th. Citigroup reduced their price objective on Deere & Company from $470.00 to $430.00 and set a "neutral" rating on the stock in a research note on Tuesday, January 14th. Truist Financial boosted their target price on shares of Deere & Company from $538.00 to $550.00 and gave the company a "buy" rating in a research note on Thursday, December 19th. Finally, 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. Eleven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $444.50.

Deere & Company Stock Down 0.8 %

Shares of Deere & Company stock traded down $3.70 during trading hours on Tuesday, hitting $476.29. 1,400,653 shares of the company's stock traded hands, compared to its average volume of 1,383,190. Deere & Company has a twelve month low of $340.20 and a twelve month high of $485.84. The company has a market cap of $129.72 billion, a PE ratio of 18.61, a PEG ratio of 2.95 and a beta of 0.98. The company has a quick ratio of 1.90, a current ratio of 2.09 and a debt-to-equity ratio of 1.89. The stock has a 50 day simple moving average of $444.09 and a 200-day simple moving average of $409.10.

Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, beating analysts' consensus estimates of $3.89 by $0.66. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The firm had revenue of $9.28 billion during the quarter, compared to analyst estimates of $9.20 billion. During the same quarter last year, the firm earned $8.26 EPS. Deere & Company's quarterly revenue was down 32.8% on a year-over-year basis. Equities research analysts anticipate that Deere & Company will post 19.38 earnings per share for the current fiscal year.

Deere & Company Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st will be given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date of this dividend is Tuesday, December 31st. This is a positive change from Deere & Company's previous quarterly dividend of $1.47. Deere & Company's payout ratio is 25.31%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of DE. Wellington Management Group LLP raised its holdings in Deere & Company by 32.0% during the third quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company's stock worth $3,068,404,000 after purchasing an additional 1,782,984 shares in the last quarter. FMR LLC raised its stake in shares of Deere & Company by 27.8% in the 3rd quarter. FMR LLC now owns 4,542,013 shares of the industrial products company's stock worth $1,895,518,000 after buying an additional 988,380 shares in the last quarter. Pathway Financial Advisers LLC lifted its holdings in shares of Deere & Company by 53,338.6% in the third quarter. Pathway Financial Advisers LLC now owns 854,484 shares of the industrial products company's stock valued at $356,602,000 after buying an additional 852,885 shares during the period. International Assets Investment Management LLC boosted its stake in Deere & Company by 46,892.9% during the third quarter. International Assets Investment Management LLC now owns 772,094 shares of the industrial products company's stock valued at $322,218,000 after buying an additional 770,451 shares in the last quarter. Finally, Stockbridge Partners LLC grew its holdings in Deere & Company by 157.5% during the third quarter. Stockbridge Partners LLC now owns 884,237 shares of the industrial products company's stock worth $369,019,000 after acquiring an additional 540,874 shares during the period. 68.58% of the stock is owned by institutional investors and hedge funds.

About Deere & Company

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.