Deere & Company (NYSE:DE) Receives $420.69 Average Price Target from Analysts

Deere & Company (NYSE:DE) has been assigned an average recommendation of “Hold” from the twenty ratings firms that are covering the stock, MarketBeat reports. Twelve analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $420.69.

Several research firms have commented on DE. Oppenheimer decreased their price target on shares of Deere & Company from $465.00 to $448.00 and set an “outperform” rating for the company in a research report on Monday, July 22nd. HSBC lowered Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, August 19th. Bank of America boosted their target price on Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a research note on Friday, August 16th. JPMorgan Chase & Co. increased their price target on Deere & Company from $360.00 to $420.00 and gave the company a “neutral” rating in a research note on Friday, October 11th. Finally, Truist Financial boosted their price target on Deere & Company from $443.00 to $496.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th.

Institutional Trading of Deere & Company

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Fairscale Capital LLC purchased a new position in Deere & Company in the second quarter valued at $26,000. Pineridge Advisors LLC grew its holdings in Deere & Company by 725.0% in the first quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 58 shares during the period. Livelsberger Financial Advisory purchased a new stake in shares of Deere & Company in the third quarter valued at approximately $32,000. Olistico Wealth LLC acquired a new position in shares of Deere & Company during the 2nd quarter worth approximately $37,000. Finally, Centennial Bank AR lifted its position in shares of 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 buying an additional 84 shares in the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Price Performance

Shares of DE opened at $405.71 on Thursday. The stock has a market capitalization of $111.00 billion, a PE ratio of 13.84, a PEG ratio of 1.52 and a beta of 0.93. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $420.47. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.87 and a current ratio of 2.07. The company has a 50 day moving average price of $402.27 and a 200-day moving average price of $385.56.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.63 by $0.66. The business had revenue of $11.39 billion for the quarter, compared to the consensus estimate of $10.94 billion. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The business’s revenue was down 20.3% compared to the same quarter last year. During the same period last year, the business posted $10.20 EPS. Equities analysts predict that Deere & Company will post 25 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, September 30th will be given a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a yield of 1.45%. The ex-dividend date of this dividend is Monday, September 30th. Deere & Company’s dividend payout ratio is currently 20.06%.

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.