Deere & Company (NYSE:DE) Receives $642.98 Average Target Price from Brokerages

Deere & Company (NYSE:DE) has earned a consensus rating of “Moderate Buy” from the twenty-three ratings firms that are currently covering the company, Marketbeat.com reports. Nine analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $642.9750.

Several research analysts have commented on DE shares. Oppenheimer restated an “outperform” rating and set a $680.00 price objective (down from $715.00) on shares of Deere & Company in a report on Wednesday, May 27th. Truist Financial increased their price target on Deere & Company from $759.00 to $812.00 and gave the stock a “buy” rating in a research report on Thursday, July 2nd. Barclays raised their price target on Deere & Company from $530.00 to $640.00 and gave the company an “overweight” rating in a research note on Tuesday, March 31st. JPMorgan Chase & Co. lifted their price objective on Deere & Company from $560.00 to $590.00 and gave the company a “neutral” rating in a report on Thursday, June 4th. Finally, Jefferies Financial Group raised shares of Deere & Company from an “underperform” rating to a “hold” rating and set a $550.00 price objective for the company in a research note on Wednesday, April 8th.

Hedge Funds Weigh In On Deere & Company

Large investors have recently bought and sold shares of the business. Cary Street Partners Financial LLC lifted its holdings in shares of Deere & Company by 11.8% during the fourth quarter. Cary Street Partners Financial LLC now owns 10,312 shares of the industrial products company’s stock worth $4,801,000 after purchasing an additional 1,086 shares during the period. Spectrum Financial Alliance Ltd LLC increased its position in shares of Deere & Company by 55.8% in the fourth quarter. Spectrum Financial Alliance Ltd LLC now owns 85,351 shares of the industrial products company’s stock valued at $39,737,000 after buying an additional 30,553 shares in the last quarter. Westpac Banking Corp grew its position in shares of Deere & Company by 78.6% in the fourth quarter. Westpac Banking Corp now owns 6,925 shares of the industrial products company’s stock valued at $3,224,000 after purchasing an additional 3,047 shares during the last quarter. Eldred Rock Partners LLC purchased a new stake in shares of Deere & Company in the fourth quarter valued at $13,166,000. Finally, Natixis Advisors LLC grew its stake in Deere & Company by 13.4% in the 4th quarter. Natixis Advisors LLC now owns 388,595 shares of the industrial products company’s stock worth $180,919,000 after acquiring an additional 45,782 shares during the period. Institutional investors own 68.58% of the company’s stock.

Deere & Company Price Performance

Deere & Company stock opened at $586.13 on Friday. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.18 and a quick ratio of 1.95. The stock has a market cap of $158.22 billion, a price-to-earnings ratio of 33.21, a price-to-earnings-growth ratio of 2.21 and a beta of 0.89. The firm has a 50-day moving average of $582.50 and a two-hundred day moving average of $572.84. Deere & Company has a 1 year low of $433.00 and a 1 year high of $674.19.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, May 21st. The industrial products company reported $6.55 EPS for the quarter, topping analysts’ consensus estimates of $5.70 by $0.85. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The business had revenue of $13.37 billion for the quarter, compared to analyst estimates of $11.55 billion. During the same period last year, the company posted $6.64 earnings per share. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. On average, research analysts forecast that Deere & Company will post 18.13 earnings per share for the current year.

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Tuesday, June 30th will be issued a $1.62 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.1%. Deere & Company’s payout ratio is currently 36.71%.

Deere & Company Company Profile

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.