Deere & Company (NYSE:DE) Price Target Raised to $480.00

Deere & Company (NYSE:DE) had its price objective lifted by Citigroup from $430.00 to $480.00 in a research report released on Friday morning,Benzinga reports. They currently have a neutral rating on the industrial products company’s stock.

DE has been the subject of a number of other reports. Jefferies Financial Group downgraded Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price target for the company. in a report on Friday, December 6th. JPMorgan Chase & Co. increased their price objective on Deere & Company from $470.00 to $500.00 and gave the company a “neutral” rating in a report on Monday, February 10th. UBS Group increased 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. Oppenheimer increased their price objective on Deere & Company from $477.00 to $507.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. Finally, Morgan Stanley increased their price objective on Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a report on Monday, November 25th. Eleven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $450.12.

Deere & Company Stock Performance

Shares of DE opened at $480.17 on Friday. The stock has a 50 day moving average price of $446.95 and a 200 day moving average price of $416.52. The company has a quick ratio of 1.90, a current ratio of 2.09 and a debt-to-equity ratio of 1.89. The company has a market capitalization of $130.77 billion, a price-to-earnings ratio of 18.76, a price-to-earnings-growth ratio of 2.87 and a beta of 0.98. Deere & Company has a 52-week low of $340.20 and a 52-week high of $485.84.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.14 by $0.05. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. Research analysts predict that Deere & Company will post 19.38 EPS for the current fiscal year.

Deere & Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st were given a $1.62 dividend. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $6.48 annualized dividend and a yield of 1.35%. Deere & Company’s dividend payout ratio is presently 25.31%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. South Plains Financial Inc. purchased a new position in shares of Deere & Company in the fourth quarter valued at $844,000. Blue Rock Wealth Management LLC purchased a new position in shares of Deere & Company in the fourth quarter valued at $257,000. Eagle Strategies LLC boosted its stake in shares of Deere & Company by 5.8% during the fourth quarter. Eagle Strategies LLC now owns 1,505 shares of the industrial products company’s stock valued at $638,000 after acquiring an additional 82 shares during the last quarter. Rehmann Capital Advisory Group boosted its stake in shares of Deere & Company by 87.8% during the fourth quarter. Rehmann Capital Advisory Group now owns 3,211 shares of the industrial products company’s stock valued at $1,361,000 after acquiring an additional 1,501 shares during the last quarter. Finally, Talon Private Wealth LLC acquired a new stake in shares of Deere & Company during the fourth quarter valued at $247,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

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.