Deere & Company (NYSE:DE) Given Buy Rating at Truist Financial

Truist Financial reiterated their buy rating on shares of Deere & Company (NYSE:DE) in a report issued on Friday morning,Benzinga reports. They currently have a $546.00 price objective on the industrial products company’s stock, down from their prior price objective of $550.00.

DE has been the subject of a number of other reports. UBS Group boosted their price objective on Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Citigroup lowered their price target on Deere & Company from $470.00 to $430.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th. Oppenheimer boosted their price target on Deere & Company from $477.00 to $507.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. Jefferies Financial Group cut Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price target on the stock. in a report on Friday, December 6th. Finally, Morgan Stanley boosted their price target on Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. Eleven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $448.72.

Deere & Company Trading Up 3.0 %

Shares of NYSE:DE opened at $480.17 on Friday. The stock has a 50 day moving average of $446.23 and a 200 day moving average of $415.49. The company has a market cap of $130.77 billion, a PE ratio of 18.76, a price-to-earnings-growth ratio of 2.87 and a beta of 0.98. The company has a current ratio of 2.09, a quick ratio of 1.90 and a debt-to-equity ratio of 1.89. Deere & Company has a 12-month low of $340.20 and a 12-month high of $485.84.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, February 13th. The industrial products company reported $3.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.14 by $0.05. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. As a group, equities research analysts expect that Deere & Company will post 19.38 EPS for the current year.

Deere & Company Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 10th. Investors of record on Tuesday, December 31st were issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.35%. The ex-dividend date of this dividend was Tuesday, December 31st. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s dividend payout ratio is presently 25.31%.

Institutional Trading of Deere & Company

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Pineridge Advisors LLC raised its holdings in Deere & Company by 60.5% during the 4th quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock valued at $29,000 after buying an additional 26 shares during the period. Modus Advisors LLC purchased a new stake in Deere & Company during the 4th quarter valued at $32,000. Livelsberger Financial Advisory purchased a new stake in Deere & Company during the 3rd quarter valued at $32,000. YANKCOM Partnership purchased a new stake in Deere & Company during the 4th quarter valued at $34,000. Finally, Synergy Asset Management LLC purchased a new stake in Deere & Company during the 4th quarter valued at $35,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

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.