Deere & Company (NYSE:DE) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Deere & Company (NYSE:DE) had its target price hoisted by JPMorgan Chase & Co. from $420.00 to $450.00 in a research report sent to investors on Friday,Benzinga reports. The brokerage currently has a neutral rating on the industrial products company’s stock.

DE has been the subject of a number of other research reports. Morgan Stanley reduced their price objective on shares of Deere & Company from $450.00 to $425.00 and set an “overweight” rating for the company in a research report on Monday, August 26th. BMO Capital Markets started coverage on shares of Deere & Company in a research note on Friday, August 9th. They set a “market perform” rating and a $400.00 price objective for the company. Truist Financial lifted their target price on shares of Deere & Company from $443.00 to $496.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. HSBC lowered shares of Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, August 19th. Finally, Bank of America lifted their target price on shares of Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a report on Friday, August 16th. Thirteen analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $433.00.

Deere & Company Stock Performance

Shares of DE stock opened at $462.81 on Friday. Deere & Company has a 1 year low of $340.20 and a 1 year high of $469.39. The firm has a market cap of $126.62 billion, a price-to-earnings ratio of 18.08, a PEG ratio of 1.75 and a beta of 0.93. The stock’s 50-day moving average is $408.35 and its two-hundred day moving average is $386.60. 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 (NYSE:DE) last announced its earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, topping the consensus estimate of $3.90 by $0.65. The business had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.20 billion. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The business’s quarterly revenue was down 32.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $8.26 earnings per share. Analysts predict that Deere & Company will post 21.31 earnings per share for the current year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Monday, September 30th were paid a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date was Monday, September 30th. Deere & Company’s payout ratio is 22.97%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. 1832 Asset Management L.P. lifted its stake in shares of Deere & Company by 67.3% in the 1st quarter. 1832 Asset Management L.P. now owns 3,313 shares of the industrial products company’s stock worth $1,361,000 after acquiring an additional 1,333 shares during the period. BOKF NA lifted its stake in shares of Deere & Company by 3.2% in the 1st quarter. BOKF NA now owns 10,316 shares of the industrial products company’s stock worth $4,169,000 after acquiring an additional 320 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in Deere & Company by 8.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,470,159 shares of the industrial products company’s stock valued at $603,854,000 after purchasing an additional 114,116 shares during the last quarter. Aristides Capital LLC acquired a new stake in Deere & Company during the first quarter valued at approximately $205,000. Finally, Mount Yale Investment Advisors LLC lifted its stake in Deere & Company by 43.1% during the first quarter. Mount Yale Investment Advisors LLC now owns 1,965 shares of the industrial products company’s stock valued at $807,000 after purchasing an additional 592 shares during the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.

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.