JPMorgan Chase & Co. Increases Deere & Company (NYSE:DE) Price Target to $425.00

Deere & Company (NYSE:DE) had its target price increased by JPMorgan Chase & Co. from $415.00 to $425.00 in a research note released on Friday, Benzinga reports. They currently have a neutral rating on the industrial products company’s stock.

Several other research firms have also recently issued reports on DE. Wells Fargo & Company lowered their price objective on Deere & Company from $445.00 to $425.00 and set an overweight rating on the stock in a report on Friday, February 16th. Melius Research restated a hold rating on shares of Deere & Company in a report on Monday, January 8th. Morgan Stanley started coverage on Deere & Company in a report on Monday, January 8th. They set an overweight rating and a $430.00 target price on the stock. Citigroup lowered their target price on Deere & Company from $450.00 to $435.00 and set a buy rating on the stock in a report on Friday, February 16th. Finally, Truist Financial started coverage on Deere & Company in a report on Thursday, March 14th. They set a buy rating and a $494.00 target price on the stock. Ten analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $433.28.

Deere & Company Price Performance

Shares of Deere & Company stock opened at $393.80 on Friday. The company has a quick ratio of 1.81, a current ratio of 2.05 and a debt-to-equity ratio of 1.81. Deere & Company has a twelve month low of $345.55 and a twelve month high of $450.00. The business has a 50-day moving average price of $384.87 and a 200 day moving average price of $382.45. The firm has a market cap of $109.62 billion, a PE ratio of 11.47, a P/E/G ratio of 1.49 and a beta of 1.04.

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

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Friday, March 29th will be given a $1.47 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $5.88 annualized dividend and a yield of 1.49%. Deere & Company’s payout ratio is 17.12%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in DE. Moneta Group Investment Advisors LLC lifted its stake in 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 worth $1,380,557,000 after purchasing an additional 3,216,801 shares in the last quarter. Norges Bank acquired a new position in Deere & Company during the fourth quarter worth $1,248,036,000. Viking Global Investors LP acquired a new position in Deere & Company during the fourth quarter worth $562,442,000. International Assets Investment Management LLC lifted its stake in 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 worth $336,142,000 after purchasing an additional 838,813 shares in the last quarter. Finally, Parnassus Investments LLC lifted its stake in 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 worth $1,541,967,000 after purchasing an additional 705,771 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

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.