Oppenheimer Increases Deere & Company (NYSE:DE) Price Target to $477.00

Deere & Company (NYSE:DE) had its price objective upped by Oppenheimer from $448.00 to $477.00 in a report issued on Friday morning, MarketBeat.com reports. They currently have an outperform rating on the industrial products company’s stock.

DE has been the topic of several other reports. Evercore ISI increased their price objective on Deere & Company from $371.00 to $378.00 and gave the company an “in-line” rating in a research note on Monday, August 19th. HSBC cut shares of Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, August 19th. Citigroup boosted their price objective on shares of Deere & Company from $395.00 to $420.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Truist Financial raised their target price on shares of Deere & Company from $443.00 to $496.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Finally, Hsbc Global Res cut shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 19th. Thirteen analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Deere & Company presently has a consensus rating of “Hold” and a consensus price target of $431.61.

Deere & Company Stock Performance

NYSE:DE opened at $446.65 on Friday. The company has a current ratio of 2.09, a quick ratio of 1.87 and a debt-to-equity ratio of 1.89. The company has a market capitalization of $122.20 billion, a P/E ratio of 17.45, a price-to-earnings-growth ratio of 1.70 and a beta of 0.93. The firm has a 50-day moving average price of $406.99 and a two-hundred day moving average price of $386.49. Deere & Company has a twelve month low of $340.20 and a twelve month high of $447.50.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, topping analysts’ consensus estimates of $3.90 by $0.65. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The business had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9.20 billion. During the same period last year, the company posted $8.26 EPS. The company’s revenue was down 32.8% on a year-over-year basis. As a group, research analysts expect that Deere & Company will post 21.41 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Monday, September 30th were issued a dividend of $1.47 per share. The ex-dividend date was Monday, September 30th. This represents a $5.88 annualized dividend and a dividend yield of 1.32%. Deere & Company’s payout ratio is 22.97%.

Institutional Investors Weigh In On Deere & Company

Institutional investors and hedge funds have recently modified their holdings of the stock. Fairscale Capital LLC acquired a new stake in Deere & Company during the 2nd quarter valued at $26,000. Pineridge Advisors LLC boosted its position 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 during the last quarter. Livelsberger Financial Advisory acquired a new stake in shares of Deere & Company during the third quarter valued at about $32,000. Olistico Wealth LLC purchased a new stake in shares of Deere & Company during the second quarter worth about $37,000. Finally, Centennial Bank AR lifted its stake in shares of Deere & Company by 420.0% in the second quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 84 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

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.