Barclays Forecasts Strong Price Appreciation for Deere & Company (NYSE:DE) Stock

Deere & Company (NYSE:DE) had its price target hoisted by Barclays from $400.00 to $475.00 in a research note published on Friday,Benzinga reports. They currently have an overweight rating on the industrial products company’s stock.

Other equities research analysts have also issued reports about the company. Hsbc Global Res lowered Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 19th. HSBC cut Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, August 19th. BMO Capital Markets began coverage on Deere & Company in a report on Friday, August 9th. They issued a “market perform” rating and a $400.00 target price for the company. Citigroup lifted their price target on Deere & Company from $395.00 to $420.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Finally, Morgan Stanley cut 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. Thirteen equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $433.00.

Deere & Company Price Performance

Shares of Deere & Company stock opened at $462.81 on Friday. The firm has a market cap of $126.62 billion, a PE ratio of 18.08, a P/E/G ratio of 1.75 and a beta of 0.93. Deere & Company has a twelve month low of $340.20 and a twelve month high of $469.39. 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 business has a 50-day moving average price of $408.35 and a 200 day moving average price of $386.60.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, beating analysts’ consensus estimates of $3.90 by $0.65. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The business had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9.20 billion. During the same period in the previous year, the business earned $8.26 earnings per share. The business’s revenue was down 32.8% compared to the same quarter last year. Sell-side analysts predict that Deere & Company will post 21.31 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in DE. Mattern Wealth Management LLC boosted its holdings in Deere & Company by 1.3% in the third quarter. Mattern Wealth Management LLC now owns 1,884 shares of the industrial products company’s stock valued at $786,000 after purchasing an additional 25 shares in the last quarter. Carret Asset Management LLC boosted its position in shares of Deere & Company by 0.3% in the 3rd quarter. Carret Asset Management LLC now owns 8,148 shares of the industrial products company’s stock valued at $3,401,000 after purchasing an additional 25 shares during the period. Round Rock Advisors LLC increased its position in Deere & Company by 2.0% during the third quarter. Round Rock Advisors LLC now owns 1,252 shares of the industrial products company’s stock worth $522,000 after buying an additional 25 shares during the period. Centaurus Financial Inc. lifted its stake in Deere & Company by 2.3% in the second quarter. Centaurus Financial Inc. now owns 1,160 shares of the industrial products company’s stock valued at $433,000 after buying an additional 26 shares during the last quarter. Finally, Cornell Pochily Investment Advisors Inc. boosted its holdings in shares of Deere & Company by 0.7% in the third quarter. Cornell Pochily Investment Advisors Inc. now owns 3,495 shares of the industrial products company’s stock valued at $1,459,000 after acquiring an additional 26 shares during the period. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Company Profile

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.