Deere & Company (NYSE:DE) Given New $550.00 Price Target at Truist Financial

Deere & Company (NYSE:DE) had its price target increased by Truist Financial from $538.00 to $550.00 in a report released on Thursday,Benzinga reports. They currently have a buy rating on the industrial products company’s stock.

Other equities research analysts also recently issued reports about the company. Barclays boosted their price target on Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. JPMorgan Chase & Co. upped their target price on shares of Deere & Company from $420.00 to $450.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Jefferies Financial Group lowered Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price target on the stock. in a report on Friday, December 6th. Morgan Stanley boosted their target price on Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. Finally, UBS Group upped their price objective on Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Thirteen analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $443.94.

Deere & Company Stock Performance

Deere & Company stock opened at $426.63 on Thursday. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.90 and a current ratio of 2.09. Deere & Company has a one year low of $340.20 and a one year high of $469.39. The stock’s 50 day moving average price is $422.95 and its 200 day moving average price is $394.29. The firm has a market capitalization of $115.86 billion, a PE ratio of 16.67, a price-to-earnings-growth ratio of 1.91 and a beta of 0.96.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, beating analysts’ consensus estimates of $3.89 by $0.66. 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 analyst estimates of $9.20 billion. During the same period last year, the business earned $8.26 EPS. The business’s revenue was down 32.8% on a year-over-year basis. As a group, sell-side analysts expect that Deere & Company will post 19.52 EPS for the current fiscal year.

Deere & Company Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Tuesday, December 31st will be paid a dividend of $1.62 per share. This is an increase from Deere & Company’s previous quarterly dividend of $1.47. The ex-dividend date is Tuesday, December 31st. This represents a $6.48 annualized dividend and a yield of 1.52%. Deere & Company’s dividend payout ratio is presently 25.31%.

Institutional Investors Weigh In On Deere & Company

Several hedge funds and other institutional investors have recently modified their holdings of DE. Fairscale Capital LLC bought a new stake in Deere & Company in the 2nd quarter valued at $26,000. Livelsberger Financial Advisory acquired a new stake in Deere & Company during the third quarter worth about $32,000. Centennial Bank AR increased its stake in Deere & Company by 420.0% during the second quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 84 shares during the period. Continuum Advisory LLC raised its holdings in Deere & Company by 155.8% in the 3rd quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock valued at $43,000 after acquiring an additional 67 shares in the last quarter. Finally, Briaud Financial Planning Inc lifted its position in shares of Deere & Company by 73.5% in the 2nd quarter. Briaud Financial Planning Inc now owns 118 shares of the industrial products company’s stock worth $44,000 after acquiring an additional 50 shares during the period. Institutional investors and hedge funds 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.