Truist Financial Forecasts Strong Price Appreciation for Deere & Company (NYSE:DE) Stock

Deere & Company (NYSE:DE) had its target price upped by Truist Financial from $496.00 to $538.00 in a report published on Friday,Benzinga reports. They currently have a buy rating on the industrial products company’s stock.

A number of other analysts have also issued reports on the company. BMO Capital Markets started coverage on Deere & Company in a report on Friday, August 9th. They issued a “market perform” rating and a $400.00 price target for the company. JPMorgan Chase & Co. increased their price target on Deere & Company from $420.00 to $450.00 and gave the stock a “neutral” rating in a research report on Friday. HSBC lowered shares of Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, August 19th. Bank of America raised their target price on shares of Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a research report on Friday, August 16th. Finally, Oppenheimer upped their price target on shares of Deere & Company from $448.00 to $477.00 and gave the stock an “outperform” rating in a research report on Friday. Thirteen equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Deere & Company presently has an average rating of “Hold” and a consensus price target of $431.61.

Deere & Company Trading Up 2.1 %

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

Deere & Company (NYSE:DE) last announced its quarterly earnings data 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 company had revenue of $9.28 billion during 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 firm’s revenue for the quarter was down 32.8% on a year-over-year basis. During the same quarter last year, the business posted $8.26 EPS. On average, sell-side analysts expect that Deere & Company will post 21.41 earnings per share for the current year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Monday, September 30th were given a $1.47 dividend. This represents a $5.88 annualized dividend and a dividend yield of 1.32%. The ex-dividend date was Monday, September 30th. Deere & Company’s payout ratio is 22.97%.

Institutional Investors Weigh In On Deere & Company

A number of institutional investors and hedge funds have recently modified their holdings of DE. Oppenheimer Asset Management Inc. raised its holdings in shares of Deere & Company by 20.5% during the second quarter. Oppenheimer Asset Management Inc. now owns 15,808 shares of the industrial products company’s stock worth $5,906,000 after purchasing an additional 2,692 shares during the last quarter. Chase Investment Counsel Corp grew its stake in shares of Deere & Company by 53.8% during the 3rd 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 period. Balentine LLC purchased a new stake in Deere & Company during the third quarter worth $710,000. Royal Fund Management LLC boosted its holdings in Deere & Company by 99.8% during the third quarter. Royal Fund Management LLC now owns 6,454 shares of the industrial products company’s stock worth $2,694,000 after buying an additional 3,223 shares in the last quarter. Finally, New Century Financial Group LLC acquired a new stake in Deere & Company during the third quarter valued at $1,052,000. Institutional investors and hedge funds 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.