Brokerages Set Deere & Company (NYSE:DE) PT at $433.28

Shares of Deere & Company (NYSE:DE) have been assigned a consensus recommendation of “Moderate Buy” from the eighteen analysts that are currently covering the stock, Marketbeat reports. Nine research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $433.28.

A number of equities research analysts recently commented on the stock. Wells Fargo & Company decreased their price objective 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. Morgan Stanley assumed coverage on shares of Deere & Company in a report on Monday, January 8th. They set an “overweight” rating and a $430.00 price target on the stock. JPMorgan Chase & Co. boosted their target price on shares of Deere & Company from $415.00 to $425.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. Truist Financial initiated coverage on shares of Deere & Company in a research report on Thursday, March 14th. They issued a “buy” rating and a $494.00 price target on the stock. Finally, Evercore ISI boosted their price objective on shares of Deere & Company from $381.00 to $387.00 and gave the company an “in-line” rating in a research report on Tuesday, February 20th.

Institutional Investors Weigh In On Deere & Company

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Pinnacle Associates Ltd. lifted its holdings in Deere & Company by 21.3% in the 4th quarter. Pinnacle Associates Ltd. now owns 5,355 shares of the industrial products company’s stock valued at $2,141,000 after purchasing an additional 939 shares in the last quarter. Penserra Capital Management LLC lifted its stake in Deere & Company by 2.4% during the third quarter. Penserra Capital Management LLC now owns 236,696 shares of the industrial products company’s stock worth $89,322,000 after purchasing an additional 5,485 shares during the last quarter. New Mexico Educational Retirement Board lifted its stake in Deere & Company by 6.9% during the third quarter. New Mexico Educational Retirement Board now owns 14,002 shares of the industrial products company’s stock worth $5,284,000 after purchasing an additional 900 shares during the last quarter. Centric Wealth Management purchased a new stake in Deere & Company in the third quarter valued at approximately $2,640,000. Finally, Graham Capital Management L.P. lifted its stake in Deere & Company by 483.3% in the third quarter. Graham Capital Management L.P. now owns 17,500 shares of the industrial products company’s stock valued at $6,604,000 after buying an additional 14,500 shares during the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Price Performance

Shares of NYSE:DE opened at $393.11 on Friday. The company has a current ratio of 2.05, a quick ratio of 1.81 and a debt-to-equity ratio of 1.81. Deere & Company has a 12 month low of $345.55 and a 12 month high of $450.00. The stock has a market cap of $109.43 billion, a P/E ratio of 11.45, a P/E/G ratio of 1.49 and a beta of 1.04. The company has a 50 day moving average of $384.95 and a 200 day moving average of $382.56.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, February 15th. The industrial products company reported $6.23 earnings per share (EPS) 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 company had revenue of $10.49 billion during the quarter, compared to analysts’ expectations of $10.30 billion. During the same quarter in the prior year, the company earned $6.55 EPS. The firm’s revenue was down 8.0% on a year-over-year basis. As a group, sell-side analysts forecast that Deere & Company will post 27.41 EPS for the current fiscal year.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Friday, March 29th will be paid a dividend of $1.47 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.50%. Deere & Company’s payout ratio is 17.12%.

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.