Analysts Set Deere & Company (NYSE:DE) PT at $444.50

Shares of Deere & Company (NYSE:DE) have been given an average rating of “Hold” by the twenty research firms that are covering the firm, Marketbeat Ratings reports. Eleven analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $448.72.

A number of research analysts have issued reports on the stock. Barclays increased their target price on shares of Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Truist Financial restated a “buy” rating and set a $546.00 price objective (down previously from $550.00) on shares of Deere & Company in a research note on Friday. Citigroup upped their target price on Deere & Company from $430.00 to $480.00 and gave the company a “neutral” rating in a research report on Friday. Jefferies Financial Group cut Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price target on the stock. in a research report on Friday, December 6th. Finally, Morgan Stanley upped their price objective on shares of Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a research report on Monday, November 25th.

Deere & Company Price Performance

Deere & Company stock opened at $480.17 on Friday. The company has a market capitalization of $130.77 billion, a price-to-earnings ratio of 18.76, a PEG ratio of 2.87 and a beta of 0.98. The company has a current ratio of 2.09, a quick ratio of 1.90 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 stock’s 50 day moving average is $446.23 and its 200-day moving average is $415.49.

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

Deere & Company Increases Dividend

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

Institutional Investors Weigh In On Deere & Company

Institutional investors have recently added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of Deere & Company in the fourth quarter worth approximately $1,244,094,000. Wellington Management Group LLP lifted its position in shares of Deere & Company by 32.0% in 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 purchasing an additional 1,782,984 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Deere & Company by 19.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,589,760 shares of the industrial products company’s stock valued at $2,792,082,000 after purchasing an additional 1,095,736 shares during the last quarter. FMR LLC increased its position in shares of Deere & Company by 22.9% during the fourth quarter. FMR LLC now owns 5,581,408 shares of the industrial products company’s stock worth $2,364,843,000 after buying an additional 1,039,395 shares during the period. Finally, Pathway Financial Advisers LLC raised its stake in Deere & Company by 53,338.6% during the third quarter. Pathway Financial Advisers LLC now owns 854,484 shares of the industrial products company’s stock worth $356,602,000 after buying an additional 852,885 shares during the last quarter. 68.58% of the stock is owned by institutional investors.

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.