Deere & Company (NYSE:DE) Price Target Raised to $470.00 at JPMorgan Chase & Co.

Deere & Company (NYSE:DE) had its price target upped by JPMorgan Chase & Co. from $450.00 to $470.00 in a report published on Wednesday,Benzinga reports. The firm currently has a neutral rating on the industrial products company’s stock.

A number of other research analysts have also recently commented on DE. Barclays upped their price target on Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Truist Financial upped their price objective on Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Jefferies Financial Group lowered 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. UBS Group upped their price objective on Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Finally, Oppenheimer raised their price target on Deere & Company from $448.00 to $477.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. Eleven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $442.83.

Deere & Company Stock Down 0.8 %

NYSE:DE opened at $428.84 on Wednesday. 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 stock’s fifty day moving average is $429.20 and its two-hundred day moving average is $400.87. Deere & Company has a 52 week low of $340.20 and a 52 week high of $469.39. The stock has a market capitalization of $116.46 billion, a price-to-earnings ratio of 16.75, a price-to-earnings-growth ratio of 1.74 and a beta of 0.98.

Deere & Company (NYSE:DE) last released its quarterly earnings results 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 company had revenue of $9.28 billion for the quarter, compared to analysts’ expectations of $9.20 billion. During the same period in the prior year, the firm earned $8.26 earnings per share. The firm’s revenue was down 32.8% compared to the same quarter last year. Research analysts anticipate that Deere & Company will post 19.57 EPS for the current year.

Deere & Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st will be issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date is Tuesday, December 31st. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s payout ratio is currently 25.31%.

Institutional Investors Weigh In On Deere & Company

A number of institutional investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP boosted its stake in shares of Deere & Company by 32.0% during the 3rd quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company’s stock worth $3,068,404,000 after acquiring an additional 1,782,984 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Deere & Company by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 5,208,368 shares of the industrial products company’s stock worth $2,168,737,000 after purchasing an additional 31,459 shares during the last quarter. FMR LLC raised its position in shares of Deere & Company by 27.8% during the 3rd quarter. FMR LLC now owns 4,542,013 shares of the industrial products company’s stock worth $1,895,518,000 after purchasing an additional 988,380 shares during the last quarter. Legal & General Group Plc raised its holdings in Deere & Company by 2.7% in the 2nd quarter. Legal & General Group Plc now owns 2,254,266 shares of the industrial products company’s stock valued at $842,259,000 after acquiring an additional 60,255 shares during the last quarter. Finally, Fisher Asset Management LLC raised its holdings in Deere & Company by 8.6% in the 3rd quarter. Fisher Asset Management LLC now owns 1,994,657 shares of the industrial products company’s stock valued at $832,431,000 after acquiring an additional 158,732 shares during the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Company Profile

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.