Deere & Company (NYSE:DE) Price Target Raised to $455.00

Deere & Company (NYSE:DE) had its price objective upped by Evercore ISI from $437.00 to $455.00 in a report released on Wednesday morning,Benzinga reports. Evercore ISI currently has an in-line rating on the industrial products company’s stock.

Several other equities analysts also recently weighed in on the company. Barclays increased their target price on Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Citigroup increased their target price on Deere & Company from $430.00 to $480.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. 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. Morgan Stanley increased their target price on Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a research report on Monday, November 25th. Finally, UBS Group increased their target price on Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $454.65.

Deere & Company Stock Down 1.2 %

DE opened at $489.98 on Wednesday. The company has a quick ratio of 1.98, a current ratio of 2.22 and a debt-to-equity ratio of 1.94. The firm has a market cap of $133.45 billion, a P/E ratio of 21.72, a PEG ratio of 2.20 and a beta of 0.98. Deere & Company has a 52 week low of $340.20 and a 52 week high of $515.05. The business’s fifty day simple moving average is $452.07 and its 200 day simple moving average is $420.91.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, February 13th. The industrial products company reported $3.19 EPS for the quarter, beating analysts’ consensus estimates of $3.14 by $0.05. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. As a group, equities research analysts anticipate that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Increases Dividend

The business also recently announced 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 is an increase from Deere & Company’s previous quarterly dividend of $1.47. This represents a $6.48 annualized dividend and a dividend yield of 1.32%. The ex-dividend date of this dividend was Tuesday, December 31st. Deere & Company’s dividend payout ratio (DPR) is presently 28.72%.

Insider Activity at Deere & Company

In related news, insider Rajesh Kalathur sold 24,580 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $500.61, for a total transaction of $12,304,993.80. Following the sale, the insider now directly owns 74,878 shares in the company, valued at approximately $37,484,675.58. This trade represents a 24.71 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.29% of the company’s stock.

Institutional Investors Weigh In On Deere & Company

Hedge funds and other institutional investors have recently bought and sold shares of the business. Pineridge Advisors LLC increased 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 worth $29,000 after purchasing an additional 26 shares during the last quarter. Modus Advisors LLC purchased a new stake in Deere & Company during the 4th quarter worth approximately $32,000. YANKCOM Partnership purchased a new stake in Deere & Company during the 4th quarter worth approximately $34,000. Orion Capital Management LLC purchased a new stake in Deere & Company during the 4th quarter worth approximately $34,000. Finally, Synergy Asset Management LLC purchased a new stake in Deere & Company during the 4th quarter worth approximately $35,000. 68.58% of the stock is currently 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.