Deere & Company (NYSE:DE) Price Target Increased to $410.00 by Analysts at Bank of America

Deere & Company (NYSE:DE) had its price target lifted by Bank of America from $400.00 to $410.00 in a research note released on Friday, Benzinga reports. Bank of America currently has a neutral rating on the industrial products company’s stock.

DE has been the topic of several other research reports. Daiwa Capital Markets upped their price objective on shares of Deere & Company from $400.00 to $420.00 and gave the company an overweight rating in a research note on Wednesday, May 15th. JPMorgan Chase & Co. reduced their price objective on Deere & Company from $375.00 to $360.00 and set a neutral rating for the company in a research report on Tuesday, August 13th. TD Cowen upped their target price on Deere & Company from $383.00 to $390.00 and gave the stock a hold rating in a research report on Friday, May 17th. Oppenheimer reduced their price target on Deere & Company from $465.00 to $448.00 and set an outperform rating for the company in a report on Monday, July 22nd. Finally, BMO Capital Markets began coverage on Deere & Company in a report on Friday, August 9th. They issued a market perform rating and a $400.00 price objective on the stock. Thirteen analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of Hold and a consensus target price of $422.35.

Deere & Company Stock Up 1.2 %

NYSE DE opened at $377.92 on Friday. The company has a market capitalization of $104.14 billion, a P/E ratio of 11.38, a PEG ratio of 1.59 and a beta of 0.93. Deere & Company has a 12 month low of $340.20 and a 12 month high of $425.42. The company’s 50 day simple moving average is $367.47 and its 200 day simple moving average is $380.36. The company has a debt-to-equity ratio of 1.81, a current ratio of 2.01 and a quick ratio of 1.80.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.63 by $0.66. Deere & Company had a return on equity of 42.26% and a net margin of 16.15%. The business had revenue of $11.39 billion for the quarter, compared to analysts’ expectations of $10.94 billion. During the same period in the previous year, the firm posted $10.20 EPS. The company’s quarterly revenue was down 20.3% on a year-over-year basis. Equities research analysts expect that Deere & Company will post 25.41 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 8th. Shareholders of record on Friday, June 28th were given a $1.47 dividend. This represents a $5.88 annualized dividend and a yield of 1.56%. The ex-dividend date was Friday, June 28th. Deere & Company’s dividend payout ratio is currently 17.70%.

Insider Activity

In other Deere & Company news, insider Cory J. Reed sold 13,370 shares of the firm’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $377.63, for a total value of $5,048,913.10. Following the sale, the insider now directly owns 41,642 shares in the company, valued at approximately $15,725,268.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.26% of the stock is owned by company insiders.

Institutional Trading of Deere & Company

A number of institutional investors and hedge funds have recently modified their holdings of the company. True Wealth Design LLC lifted its stake in Deere & Company by 1,180.0% during the fourth quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 59 shares during the period. Fairscale Capital LLC bought a new position in shares of Deere & Company during the 2nd quarter worth approximately $26,000. Pineridge Advisors LLC boosted its stake in Deere & Company by 725.0% in the 1st quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock valued at $27,000 after buying an additional 58 shares in the last quarter. Rakuten Securities Inc. bought a new stake in Deere & Company in the fourth quarter valued at $28,000. Finally, Naples Money Management LLC acquired a new position in Deere & Company during the fourth quarter worth $29,000. 68.58% of the stock is currently owned by institutional investors.

About Deere & Company

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.