JPMorgan Chase & Co. Issues Positive Forecast for Deere & Company (NYSE:DE) Stock Price

Deere & Company (NYSE:DE) had its target price increased by JPMorgan Chase & Co. from $420.00 to $450.00 in a research note issued to investors on Friday morning,Benzinga reports. They currently have a neutral rating on the industrial products company’s stock.

A number of other equities research analysts have also weighed in on the company. Oppenheimer boosted their price objective on Deere & Company from $448.00 to $477.00 and gave the stock an “outperform” rating in a research report on Friday. HSBC cut Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, August 19th. BMO Capital Markets started coverage on shares of Deere & Company in a report on Friday, August 9th. They issued a “market perform” rating and a $400.00 price objective for the company. Citigroup boosted their target price on shares of Deere & Company from $395.00 to $420.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Finally, Truist Financial raised their price target on shares of Deere & Company from $443.00 to $496.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Thirteen research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $431.61.

Deere & Company Trading Up 2.1 %

DE opened at $446.65 on Friday. The company has a market cap of $122.20 billion, a P/E ratio of 17.45, a PEG ratio of 1.70 and a beta of 0.93. The company has a current ratio of 2.09, a quick ratio of 1.87 and a debt-to-equity ratio of 1.89. The company’s 50 day moving average is $406.99 and its 200-day moving average is $386.49. Deere & Company has a 1-year low of $340.20 and a 1-year high of $447.50.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, beating analysts’ consensus estimates of $3.90 by $0.65. The firm had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.20 billion. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The company’s quarterly revenue was down 32.8% on a year-over-year basis. During the same quarter last year, the business posted $8.26 earnings per share. Equities research analysts predict that Deere & Company will post 21.41 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Monday, September 30th were given a dividend of $1.47 per share. The ex-dividend date was Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.32%. Deere & Company’s dividend payout ratio (DPR) is presently 22.97%.

Institutional Trading of Deere & Company

A number of hedge funds and other institutional investors have recently bought and sold shares of DE. Oppenheimer Asset Management Inc. grew its holdings in shares of Deere & Company by 20.5% in the second 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 in the last quarter. Chase Investment Counsel Corp boosted 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 purchasing an additional 1,400 shares during the last quarter. Balentine LLC bought a new position in Deere & Company in the 3rd quarter valued at $710,000. Royal Fund Management LLC increased 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 purchasing an additional 3,223 shares during the last quarter. Finally, New Century Financial Group LLC bought a new stake in shares of Deere & Company during the 3rd quarter worth $1,052,000. 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.