Deere & Company (NYSE:DE) Receives $431.69 Consensus Target Price from Brokerages

Shares of Deere & Company (NYSE:DE) have been assigned an average rating of “Moderate Buy” from the nineteen brokerages that are presently covering the stock, MarketBeat.com reports. Nine research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $431.69.

Several brokerages have commented on DE. Morgan Stanley began coverage on shares of Deere & Company in a report on Monday, January 8th. They issued an “overweight” rating and a $430.00 price target for the company. Melius downgraded shares of Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, January 8th. Wells Fargo & Company cut their price target on shares of Deere & Company from $445.00 to $425.00 and set an “overweight” rating for the company in a report on Friday, February 16th. Truist Financial initiated coverage on shares of Deere & Company in a report on Thursday, March 14th. They issued a “buy” rating and a $494.00 price target for the company. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Deere & Company from $380.00 to $385.00 and gave the stock a “neutral” rating in a report on Monday, December 4th.

Hedge Funds Weigh In On Deere & Company

A number of hedge funds have recently modified their holdings of the company. Moneta Group Investment Advisors LLC increased its position in shares of Deere & Company by 104,373.8% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 3,219,883 shares of the industrial products company’s stock valued at $1,380,557,000 after buying an additional 3,216,801 shares during the period. Norges Bank purchased a new position in shares of Deere & Company during the fourth quarter valued at about $1,248,036,000. Viking Global Investors LP purchased a new position in shares of Deere & Company during the fourth quarter valued at about $562,442,000. International Assets Investment Management LLC increased its position in shares of Deere & Company by 46,241.1% during the fourth quarter. International Assets Investment Management LLC now owns 840,627 shares of the industrial products company’s stock valued at $336,142,000 after buying an additional 838,813 shares during the period. Finally, Parnassus Investments LLC increased its position in shares of Deere & Company by 22.4% during the fourth quarter. Parnassus Investments LLC now owns 3,856,171 shares of the industrial products company’s stock valued at $1,541,967,000 after buying an additional 705,771 shares during the period. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Up 0.1 %

Deere & Company stock opened at $398.52 on Wednesday. Deere & Company has a 1-year low of $345.55 and a 1-year high of $450.00. The firm has a market capitalization of $110.93 billion, a price-to-earnings ratio of 11.61, a P/E/G ratio of 1.50 and a beta of 1.03. The company has a current ratio of 2.05, a quick ratio of 1.81 and a debt-to-equity ratio of 1.81. The firm has a 50 day simple moving average of $379.56 and a 200 day simple moving average of $381.33.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, February 15th. The industrial products company reported $6.23 earnings per share for the quarter, beating analysts’ consensus estimates of $5.19 by $1.04. Deere & Company had a net margin of 16.38% and a return on equity of 44.60%. The business had revenue of $10.49 billion during the quarter, compared to analyst estimates of $10.30 billion. During the same period in the previous year, the business earned $6.55 EPS. Deere & Company’s revenue was down 8.0% compared to the same quarter last year. On average, analysts predict that Deere & Company will post 27.41 earnings per share for the current year.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Friday, March 29th will be given a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date of this dividend is Wednesday, March 27th. Deere & Company’s payout ratio is 17.12%.

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.