Deere & Company (NYSE:DE) Price Target Raised to $700.00

Deere & Company (NYSE:DE) had its target price boosted by Argus from $540.00 to $700.00 in a report issued on Tuesday,MarketScreener reports. They currently have a buy rating on the industrial products company’s stock.

Other analysts have also issued reports about the stock. Wells Fargo & Company upped their price objective on shares of Deere & Company from $543.00 to $750.00 and gave the company an “overweight” rating in a research note on Friday, February 20th. Jefferies Financial Group lowered shares of Deere & Company from a “hold” rating to an “underperform” rating and boosted their price target for the company from $475.00 to $550.00 in a report on Monday, February 23rd. JPMorgan Chase & Co. reduced their price target on shares of Deere & Company from $480.00 to $460.00 and set a “neutral” rating for the company in a research report on Friday, December 19th. Truist Financial lifted their price objective on shares of Deere & Company from $612.00 to $793.00 and gave the stock a “buy” rating in a research report on Friday, February 20th. Finally, Evercore reissued a “positive” rating on shares of Deere & Company in a research note on Friday, November 28th. Sixteen equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $647.20.

Deere & Company Price Performance

Shares of NYSE:DE opened at $590.15 on Tuesday. The company has a market capitalization of $159.41 billion, a PE ratio of 33.27, a price-to-earnings-growth ratio of 2.16 and a beta of 0.96. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.96 and a current ratio of 2.21. The stock has a fifty day moving average of $549.53 and a 200-day moving average of $498.82. Deere & Company has a one year low of $404.42 and a one year high of $674.19.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, February 19th. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.90 by $0.52. Deere & Company had a return on equity of 18.93% and a net margin of 10.29%.The company had revenue of $9.61 billion for the quarter, compared to analyst estimates of $7.50 billion. During the same period in the previous year, the firm earned $3.19 earnings per share. Deere & Company’s revenue for the quarter was up 17.5% compared to the same quarter last year. As a group, equities analysts anticipate that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 8th. Shareholders of record on Tuesday, March 31st will be given a $1.62 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $6.48 dividend on an annualized basis and a yield of 1.1%. Deere & Company’s dividend payout ratio is presently 36.53%.

Insider Buying and Selling at Deere & Company

In other Deere & Company news, CEO John C. May II sold 41,472 shares of the business’s stock in a transaction dated Thursday, January 8th. The stock was sold at an average price of $501.49, for a total value of $20,797,793.28. Following the transaction, the chief executive officer owned 117,970 shares in the company, valued at $59,160,775.30. The trade was a 26.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Cory J. Reed sold 12,000 shares of the firm’s stock in a transaction dated Wednesday, January 14th. The stock was sold at an average price of $510.00, for a total value of $6,120,000.00. Following the sale, the insider directly owned 20,792 shares of the company’s stock, valued at $10,603,920. This trade represents a 36.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.29% of the company’s stock.

Hedge Funds Weigh In On Deere & Company

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DE. Howard Hughes Medical Institute acquired a new position in shares of Deere & Company during the 2nd quarter worth $27,000. Strategic Advocates LLC bought a new stake in Deere & Company in the third quarter worth $25,000. Key Capital Management INC acquired a new position in Deere & Company during the fourth quarter worth $27,000. Timmons Wealth Management LLC bought a new position in Deere & Company during the fourth quarter valued at about $29,000. Finally, McIlrath & Eck LLC acquired a new stake in shares of Deere & Company in the fourth quarter worth about $30,000. Institutional investors own 68.58% of the company’s stock.

Deere & Company Company Profile

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.