Deere & Company (NYSE:DE) PT Lowered to $375.00 at JPMorgan Chase & Co.

Deere & Company (NYSE:DE) had its target price lowered by JPMorgan Chase & Co. from $385.00 to $375.00 in a report issued on Thursday morning, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the industrial products company’s stock.

DE has been the topic of a number of other reports. Raymond James assumed coverage on Deere & Company in a report on Friday, June 28th. They issued an outperform rating and a $420.00 price objective on the stock. DA Davidson lowered their price target on Deere & Company from $483.00 to $465.00 and set a buy rating for the company in a report on Monday, May 20th. Truist Financial reduced their price objective on shares of Deere & Company from $460.00 to $439.00 and set a buy rating on the stock in a report on Tuesday, July 2nd. Morgan Stanley increased their target price on shares of Deere & Company from $430.00 to $450.00 in a research note on Wednesday, May 15th. Finally, TD Cowen upped their price objective on shares of Deere & Company from $383.00 to $390.00 and gave the stock a hold rating in a report on Friday, May 17th. Eleven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus target price of $427.13.

Deere & Company Stock Up 1.0 %

Shares of NYSE:DE opened at $365.33 on Thursday. Deere & Company has a 52-week low of $345.93 and a 52-week high of $450.00. The stock has a market cap of $100.67 billion, a P/E ratio of 11.00, a PEG ratio of 1.46 and a beta of 0.93. The business has a fifty day moving average of $378.08 and a two-hundred day moving average of $385.05. The company has a quick ratio of 1.80, a current ratio of 2.01 and a debt-to-equity ratio of 1.81.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, May 16th. The industrial products company reported $8.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.86 by $0.67. Deere & Company had a net margin of 16.15% and a return on equity of 42.26%. The firm had revenue of $13.61 billion during the quarter, compared to analyst estimates of $13.29 billion. During the same quarter in the prior year, the firm posted $9.65 earnings per share. Deere & Company’s quarterly revenue was down 15.4% on a year-over-year basis. On average, research analysts expect that Deere & Company will post 25.56 earnings per share for the current year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 8th. Investors of record on Friday, June 28th will be given a $1.47 dividend. This represents a $5.88 annualized dividend and a yield of 1.61%. The ex-dividend date of this dividend is Friday, June 28th. Deere & Company’s dividend payout ratio (DPR) is presently 17.70%.

Insiders Place Their Bets

In related news, insider Cory J. Reed sold 13,370 shares of the stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $377.63, for a total value of $5,048,913.10. Following the sale, the insider now directly owns 41,642 shares of the company’s stock, valued at approximately $15,725,268.46. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.26% of the stock is owned by insiders.

Institutional Investors Weigh In On Deere & Company

A number of large investors have recently bought and sold shares of the stock. True Wealth Design LLC increased its position in Deere & Company by 1,180.0% during the 4th quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 59 shares in the last quarter. Pineridge Advisors LLC boosted its position in Deere & Company by 725.0% during the 1st quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 58 shares during the period. Rakuten Securities Inc. acquired a new stake in Deere & Company in the 4th quarter valued at $28,000. Naples Money Management LLC purchased a new position in Deere & Company in the fourth quarter valued at about $29,000. Finally, Private Wealth Management Group LLC acquired a new position in shares of Deere & Company during the fourth quarter worth about $29,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

About Deere & Company

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.