Deere & Company (NYSE:DE) Given New $538.00 Price Target at Truist Financial

Deere & Company (NYSE:DE) had its price objective lifted by Truist Financial from $496.00 to $538.00 in a research note issued to investors on Friday,Benzinga reports. They currently have a buy rating on the industrial products company’s stock.

Several other research analysts have also recently issued reports on the company. BMO Capital Markets initiated coverage on Deere & Company in a research report on Friday, August 9th. They issued a “market perform” rating and a $400.00 target price on the stock. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a report on Thursday, August 8th. Citigroup lifted their price target on shares of Deere & Company from $395.00 to $420.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Barclays upped their price objective on Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, JPMorgan Chase & Co. lifted their target price on Deere & Company from $420.00 to $450.00 and gave the company a “neutral” rating in a research report on Friday. Thirteen equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $431.61.

Deere & Company Stock Performance

Shares of DE stock opened at $446.65 on Friday. The company has a quick ratio of 1.87, a current ratio of 2.09 and a debt-to-equity ratio of 1.89. The company has a 50 day moving average price of $406.99 and a 200-day moving average price of $386.49. Deere & Company has a 52 week low of $340.20 and a 52 week high of $447.50. The firm has a market capitalization of $122.20 billion, a PE ratio of 17.45, a P/E/G ratio of 1.70 and a beta of 0.93.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, topping analysts’ consensus estimates 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 firm’s revenue was down 32.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $8.26 EPS. As a group, equities research analysts expect that Deere & Company will post 21.41 earnings per share for the current 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 $1.47 dividend. The ex-dividend date was Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a yield of 1.32%. Deere & Company’s dividend payout ratio is currently 22.97%.

Hedge Funds Weigh In On Deere & Company

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. boosted its position in shares of Deere & Company by 20.5% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 15,808 shares of the industrial products company’s stock valued at $5,906,000 after acquiring an additional 2,692 shares during the last quarter. Chase Investment Counsel Corp grew its stake in shares of Deere & Company by 53.8% in the 3rd quarter. Chase Investment Counsel Corp now owns 4,000 shares of the industrial products company’s stock worth $1,669,000 after buying an additional 1,400 shares in the last quarter. Balentine LLC bought a new stake in shares of Deere & Company in the 3rd quarter worth about $710,000. Royal Fund Management LLC raised its position in shares of Deere & Company by 99.8% during the 3rd quarter. Royal Fund Management LLC now owns 6,454 shares of the industrial products company’s stock valued at $2,694,000 after buying an additional 3,223 shares in the last quarter. Finally, New Century Financial Group LLC bought a new position in shares of Deere & Company in the 3rd quarter valued at about $1,052,000. 68.58% of the stock is owned by institutional investors.

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.