Oppenheimer Raises Deere & Company (NYSE:DE) Price Target to $507.00

Deere & Company (NYSE:DE) had its target price boosted by Oppenheimer from $477.00 to $507.00 in a research note released on Tuesday morning,Benzinga reports. The brokerage currently has an outperform rating on the industrial products company’s stock.

A number of other research firms have also recently commented on DE. JPMorgan Chase & Co. raised their price target on Deere & Company from $450.00 to $470.00 and gave the company a “neutral” rating in a report on Wednesday, January 15th. Truist Financial lifted their price objective on shares of Deere & Company from $538.00 to $550.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Barclays upped their target price on shares of Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. UBS Group boosted their price target on shares of Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Finally, Jefferies Financial Group downgraded Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 target price on the stock. in a research report on Friday, December 6th. Eleven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $444.50.

Deere & Company Stock Down 0.7 %

DE stock opened at $480.59 on Tuesday. The business’s 50-day moving average price is $440.14 and its 200-day moving average price is $407.30. The stock has a market cap of $130.89 billion, a P/E ratio of 18.77, a PEG ratio of 2.84 and a beta of 0.98. 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 has a twelve month low of $340.20 and a twelve month high of $485.84.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, topping analysts’ consensus estimates of $3.89 by $0.66. The business 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 company’s revenue was down 32.8% on a year-over-year basis. During the same period in the prior year, the business posted $8.26 earnings per share. On average, equities research analysts forecast that Deere & Company will post 19.34 EPS for the current year.

Deere & Company Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Tuesday, December 31st will be paid a dividend of $1.62 per share. The ex-dividend date is Tuesday, December 31st. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.35%. Deere & Company’s payout ratio is currently 25.31%.

Institutional Trading of Deere & Company

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Livelsberger Financial Advisory purchased a new position in shares of Deere & Company during the third quarter valued at approximately $32,000. Modus Advisors LLC bought a new stake in shares of Deere & Company during the 4th quarter worth approximately $32,000. YANKCOM Partnership purchased a new position in Deere & Company during the 4th quarter valued at $34,000. Synergy Asset Management LLC bought a new position in Deere & Company in the 4th quarter valued at $35,000. Finally, Centennial Bank AR increased its stake in Deere & Company by 420.0% in the second quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 84 shares during the period. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Company Profile

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.