Deere & Company’s (DE) Buy Rating Reiterated at Truist Financial

Truist Financial reiterated their buy rating on shares of Deere & Company (NYSE:DE) in a research note released on Friday morning,Benzinga reports. The firm currently has a $546.00 price objective on the industrial products company’s stock, down from their prior price objective of $550.00.

Several other equities analysts also recently commented on the stock. Morgan Stanley upped their price objective on shares of Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a research note on Monday, November 25th. Jefferies Financial Group downgraded shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price target for the company. in a research note on Friday, December 6th. UBS Group increased their price target on shares of Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. JPMorgan Chase & Co. increased their price target on shares of Deere & Company from $470.00 to $500.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. Finally, Oppenheimer increased their price target on shares of Deere & Company from $477.00 to $507.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Eleven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $450.12.

Deere & Company Stock Performance

NYSE DE opened at $480.17 on Friday. The company has a 50-day simple moving average of $446.95 and a two-hundred day simple moving average 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. Deere & Company has a 12-month low of $340.20 and a 12-month high of $485.84. The firm has a market cap of $130.77 billion, a price-to-earnings ratio of 18.76, a PEG ratio of 2.87 and a beta of 0.98.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, February 13th. The industrial products company reported $3.19 EPS for the quarter, beating the consensus estimate of $3.14 by $0.05. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. On average, equities analysts forecast that Deere & Company will post 19.38 EPS for the current year.

Deere & Company Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st were issued a dividend of $1.62 per share. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. The ex-dividend date was Tuesday, December 31st. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.35%. Deere & Company’s dividend payout ratio is presently 25.31%.

Institutional Investors Weigh In On Deere & Company

Institutional investors have recently made changes to their positions in the company. Everence Capital Management Inc. boosted its holdings in Deere & Company by 148.3% in the fourth quarter. Everence Capital Management Inc. now owns 12,223 shares of the industrial products company’s stock worth $5,179,000 after purchasing an additional 7,300 shares during the last quarter. Stockbridge Partners LLC raised its position in Deere & Company by 157.5% in the third quarter. Stockbridge Partners LLC now owns 884,237 shares of the industrial products company’s stock worth $369,019,000 after acquiring an additional 540,874 shares during the period. Compass Financial Services Inc bought a new position in Deere & Company in the fourth quarter worth approximately $254,000. Toronto Dominion Bank raised its position in Deere & Company by 1.5% in the third quarter. Toronto Dominion Bank now owns 86,952 shares of the industrial products company’s stock worth $36,288,000 after acquiring an additional 1,291 shares during the period. Finally, Chase Investment Counsel Corp raised its position in Deere & Company by 53.8% in the third quarter. Chase Investment Counsel Corp now owns 4,000 shares of the industrial products company’s stock worth $1,669,000 after acquiring an additional 1,400 shares during the period. 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.