Deere & Company (NYSE:DE) Given New $550.00 Price Target at Truist Financial

Deere & Company (NYSE:DE) had its price objective raised by Truist Financial from $538.00 to $550.00 in a research report released on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the industrial products company’s stock.

Several other brokerages also recently weighed in on DE. Jefferies Financial Group downgraded 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. Morgan Stanley lifted their price target on Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a research report on Monday, November 25th. Oppenheimer upped 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, November 22nd. JPMorgan Chase & Co. lifted their target price on shares of Deere & Company from $420.00 to $450.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Finally, UBS Group increased their price target on shares of Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Thirteen equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Deere & Company presently has an average rating of “Hold” and a consensus price target of $443.94.

Deere & Company Trading Up 1.4 %

Deere & Company stock opened at $432.49 on Thursday. The stock has a 50-day moving average price of $423.38 and a 200 day moving average price of $394.92. The company has a market capitalization of $117.45 billion, a price-to-earnings ratio of 16.89, a price-to-earnings-growth ratio of 1.91 and a beta of 0.96. Deere & Company has a 52 week low of $340.20 and a 52 week high of $469.39. The company has a quick ratio of 1.90, a current ratio of 2.09 and a debt-to-equity ratio of 1.89.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, beating the consensus estimate of $3.89 by $0.66. The business had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9.20 billion. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The business’s quarterly revenue was down 32.8% compared to the same quarter last year. During the same period in the previous year, the business posted $8.26 EPS. Sell-side analysts anticipate that Deere & Company will post 19.52 EPS for the current year.

Deere & Company Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $1.62 per share. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.50%. Deere & Company’s dividend payout ratio is presently 25.31%.

Hedge Funds Weigh In On Deere & Company

Hedge funds and other institutional investors have recently modified their holdings of the business. Fairscale Capital LLC purchased a new position in Deere & Company in the 2nd quarter worth approximately $26,000. Livelsberger Financial Advisory purchased a new stake in Deere & Company in the 3rd quarter valued at about $32,000. Centennial Bank AR raised its position in Deere & Company by 420.0% in the second quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 84 shares during the period. Continuum Advisory LLC boosted its position in shares of Deere & Company by 155.8% during the third quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock worth $43,000 after buying an additional 67 shares during the period. Finally, Briaud Financial Planning Inc raised its holdings in shares of Deere & Company by 73.5% in the 2nd quarter. Briaud Financial Planning Inc now owns 118 shares of the industrial products company’s stock valued at $44,000 after buying an additional 50 shares during the period. 68.58% of the stock is owned by hedge funds and other institutional investors.

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.