Deere & Company (NYSE:DE) Price Target Raised to $500.00 at JPMorgan Chase & Co.

Deere & Company (NYSE:DE) had its target price hoisted by JPMorgan Chase & Co. from $470.00 to $500.00 in a research note published on Monday morning,Benzinga reports. They currently have a neutral rating on the industrial products company’s stock.

DE has been the topic of several other research reports. Jefferies Financial Group cut Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price objective on the stock. in a research report on Friday, December 6th. Barclays boosted their target price on shares of Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Oppenheimer upped their price objective on Deere & Company from $477.00 to $507.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. Citigroup reduced their price objective on Deere & Company from $470.00 to $430.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. Finally, Truist Financial upped their price target on Deere & Company from $538.00 to $550.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Eleven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Deere & Company has an average rating of “Hold” and an average price target of $446.17.

Deere & Company Stock Performance

DE opened at $470.22 on Monday. Deere & Company has a 1-year low of $340.20 and a 1-year high of $485.84. The company has a market cap of $128.06 billion, a price-to-earnings ratio of 18.37, a PEG ratio of 2.87 and a beta of 0.98. The company’s fifty day moving average price is $445.00 and its two-hundred day moving average price is $413.46. The company has a current ratio of 2.09, a quick ratio of 1.90 and a debt-to-equity ratio of 1.89.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, topping analysts’ consensus estimates of $3.89 by $0.66. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The firm had revenue of $9.28 billion during the quarter, compared to analyst estimates of $9.20 billion. During the same period in the previous year, the company posted $8.26 EPS. The company’s revenue for the quarter was down 32.8% on a year-over-year basis. On average, analysts expect that Deere & Company will post 19.38 EPS for the current fiscal year.

Deere & Company Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st were paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date was Tuesday, December 31st. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s dividend payout ratio (DPR) is presently 25.31%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Generali Asset Management SPA SGR bought a new position in Deere & Company during the 4th quarter valued at approximately $3,177,000. Horizon Investments LLC grew its stake in shares of Deere & Company by 2.9% in the fourth quarter. Horizon Investments LLC now owns 4,455 shares of the industrial products company’s stock worth $1,888,000 after acquiring an additional 124 shares during the last quarter. Thrivent Financial for Lutherans increased its holdings in shares of Deere & Company by 6.3% during the fourth quarter. Thrivent Financial for Lutherans now owns 32,728 shares of the industrial products company’s stock valued at $13,509,000 after acquiring an additional 1,934 shares in the last quarter. PDS Planning Inc raised its position in shares of Deere & Company by 1.1% in the 4th quarter. PDS Planning Inc now owns 6,312 shares of the industrial products company’s stock worth $2,674,000 after purchasing an additional 66 shares during the last quarter. Finally, Mystic Asset Management Inc. boosted its stake in Deere & Company by 7.4% in the 4th quarter. Mystic Asset Management Inc. now owns 4,149 shares of the industrial products company’s stock worth $1,758,000 after purchasing an additional 286 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors.

About Deere & Company

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.