Deere & Company (NYSE:DE) Price Target Cut to $360.00 by Analysts at JPMorgan Chase & Co.

Deere & Company (NYSE:DE) had its target price cut by JPMorgan Chase & Co. from $375.00 to $360.00 in a report published on Tuesday, Benzinga reports. They currently have a neutral rating on the industrial products company’s stock.

Several other research analysts have also recently commented on DE. Deutsche Bank Aktiengesellschaft cut their price target on Deere & Company from $402.00 to $389.00 and set a hold rating on the stock in a research note on Thursday, August 8th. Morgan Stanley boosted their price target on Deere & Company from $430.00 to $450.00 in a research note on Wednesday, May 15th. Raymond James initiated coverage on Deere & Company in a research note on Friday, June 28th. They issued an outperform rating and a $420.00 price target on the stock. Oppenheimer cut their price target on Deere & Company from $465.00 to $448.00 and set an outperform rating on the stock in a research note on Monday, July 22nd. Finally, Daiwa Capital Markets boosted their price target on Deere & Company from $400.00 to $420.00 and gave the stock an overweight rating in a research note on Wednesday, May 15th. Thirteen equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, Deere & Company currently has an average rating of Hold and a consensus target price of $422.35.

Deere & Company Price Performance

DE stock opened at $377.99 on Tuesday. The stock has a 50-day moving average price of $367.47 and a two-hundred day moving average price of $380.57. Deere & Company has a 12-month low of $340.20 and a 12-month high of $425.42. The company has a current ratio of 2.01, a quick ratio of 1.80 and a debt-to-equity ratio of 1.81. The company has a market cap of $104.16 billion, a PE ratio of 11.38, a price-to-earnings-growth ratio of 1.59 and a beta of 0.93.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, topping the consensus estimate of $5.80 by $0.49. Deere & Company had a return on equity of 42.26% and a net margin of 16.15%. The company had revenue of $11.39 billion during the quarter, compared to the consensus estimate of $10.94 billion. During the same quarter in the prior year, the business earned $10.20 earnings per share. The company’s revenue was down 20.3% compared to the same quarter last year. As a group, research analysts predict that Deere & Company will post 25.41 EPS for the current year.

Deere & Company Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 8th. Stockholders of record on Friday, June 28th were given a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a dividend yield of 1.56%. The ex-dividend date was Friday, June 28th. Deere & Company’s dividend payout ratio (DPR) is presently 17.70%.

Insider Activity

In other news, insider Cory J. Reed sold 13,370 shares of Deere & Company stock in a transaction on Monday, June 24th. The stock was sold at an average price of $377.63, for a total transaction of $5,048,913.10. Following the transaction, the insider now directly owns 41,642 shares in the company, valued at approximately $15,725,268.46. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.26% of the stock is owned by insiders.

Hedge Funds Weigh In On Deere & Company

Hedge funds have recently modified their holdings of the stock. William B. Walkup & Associates Inc. acquired a new stake in shares of Deere & Company in the second quarter worth $1,090,000. NewEdge Advisors LLC boosted its position in Deere & Company by 2.6% during the second quarter. NewEdge Advisors LLC now owns 19,150 shares of the industrial products company’s stock valued at $7,155,000 after purchasing an additional 493 shares during the last quarter. Magnolia Capital Advisors LLC acquired a new stake in Deere & Company during the second quarter valued at $615,000. Forefront Analytics LLC boosted its position in Deere & Company by 100.7% during the second quarter. Forefront Analytics LLC now owns 2,218 shares of the industrial products company’s stock valued at $829,000 after purchasing an additional 1,113 shares during the last quarter. Finally, Ascent Group LLC boosted its position in Deere & Company by 11.6% during the second quarter. Ascent Group LLC now owns 1,620 shares of the industrial products company’s stock valued at $605,000 after purchasing an additional 168 shares during the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

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.