Deere & Company (NYSE:DE) Given New $496.00 Price Target at Truist Financial

Deere & Company (NYSE:DE) had its price target increased by Truist Financial from $443.00 to $496.00 in a research report released on Wednesday, Benzinga reports. The brokerage currently has a buy rating on the industrial products company’s stock.

Several other equities research analysts have also recently issued reports on DE. HSBC cut shares of Deere & Company from a buy rating to a hold rating in a research report on Monday, August 19th. Citigroup reduced their price target on shares of Deere & Company from $395.00 to $370.00 and set a neutral rating on the stock in a research report on Tuesday, August 13th. Deutsche Bank Aktiengesellschaft lowered their price objective on Deere & Company from $402.00 to $389.00 and set a hold rating for the company in a research report on Thursday, August 8th. Oppenheimer reduced their target price on Deere & Company from $465.00 to $448.00 and set an outperform rating on the stock in a research report on Monday, July 22nd. Finally, BMO Capital Markets initiated coverage on Deere & Company in a report on Friday, August 9th. They set a market perform rating and a $400.00 price target for the company. Twelve equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of Hold and a consensus price target of $420.69.

Deere & Company Trading Up 1.3 %

Shares of Deere & Company stock opened at $411.08 on Wednesday. The company has a debt-to-equity ratio of 1.85, a current ratio of 2.07 and a quick ratio of 1.87. The stock’s 50 day simple moving average is $387.01 and its 200-day simple moving average is $385.44. The stock has a market cap of $113.28 billion, a P/E ratio of 12.37, a P/E/G ratio of 1.35 and a beta of 0.92. Deere & Company has a 1-year low of $340.20 and a 1-year high of $420.47.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, topping analysts’ consensus estimates of $5.63 by $0.66. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The company had revenue of $11.39 billion for the quarter, compared to analyst estimates of $10.94 billion. During the same quarter in the previous year, the company posted $10.20 earnings per share. The firm’s revenue for the quarter was down 20.3% compared to the same quarter last year. Analysts predict that Deere & Company will post 25.03 EPS for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, September 30th will be issued a dividend of $1.47 per share. The ex-dividend date is Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a yield of 1.43%. Deere & Company’s dividend payout ratio (DPR) is presently 17.70%.

Institutional Trading of Deere & Company

A number of large investors have recently modified their holdings of the stock. True Wealth Design LLC lifted its position in shares of Deere & Company by 1,180.0% during the 4th 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 last quarter. Fairscale Capital LLC acquired a new stake in Deere & Company in the second quarter valued at $26,000. Pineridge Advisors LLC raised its stake 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 buying an additional 58 shares in the last quarter. Livelsberger Financial Advisory purchased a new stake in Deere & Company during the 4th quarter worth about $30,000. Finally, Spartan Planning & Wealth Management acquired a new position in shares of Deere & Company during the 4th quarter worth about $33,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

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.