Deere & Company (NYSE:DE) Given a $560.00 Price Target by Oppenheimer Analysts

Oppenheimer set a $560.00 price objective on Deere & Company (NYSE:DE) in a research report released on Tuesday, Marketbeat.com reports. The firm currently has an outperform rating on the industrial products company’s stock.

A number of other analysts also recently commented on the stock. The Goldman Sachs Group reissued a “buy” rating on shares of Deere & Company in a report on Thursday, May 15th. UBS Group decreased their price target on shares of Deere & Company from $462.00 to $440.00 and set a “neutral” rating for the company in a report on Monday, April 7th. Morgan Stanley lifted their price target on shares of Deere & Company from $450.00 to $500.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 16th. DA Davidson reissued a “buy” rating and set a $542.00 target price on shares of Deere & Company in a research note on Friday, May 16th. Finally, Evercore ISI increased their price objective on Deere & Company from $455.00 to $493.00 and gave the stock an “in-line” rating in a research report on Monday, May 19th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $515.50.

Deere & Company Stock Performance

NYSE:DE opened at $499.98 on Tuesday. Deere & Company has a 1 year low of $340.20 and a 1 year high of $533.78. The business has a fifty day simple moving average of $512.70 and a two-hundred day simple moving average of $480.12. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.11 and a quick ratio of 1.89. The company has a market capitalization of $135.41 billion, a P/E ratio of 24.19, a P/E/G ratio of 3.22 and a beta of 1.08.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, May 15th. The industrial products company reported $6.64 earnings per share for the quarter, beating analysts’ consensus estimates of $5.72 by $0.92. Deere & Company had a return on equity of 24.39% and a net margin of 12.40%. The firm had revenue of $11.17 billion during the quarter, compared to analyst estimates of $10.80 billion. During the same quarter last year, the business posted $8.53 earnings per share. The business’s quarterly revenue was down 17.9% compared to the same quarter last year. On average, analysts expect that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Monday, June 30th will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.30%. The ex-dividend date is Monday, June 30th. Deere & Company’s dividend payout ratio (DPR) is 31.35%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in DE. Assenagon Asset Management S.A. boosted its stake in Deere & Company by 58.9% during the first quarter. Assenagon Asset Management S.A. now owns 13,625 shares of the industrial products company’s stock worth $6,395,000 after buying an additional 5,053 shares during the period. OVERSEA CHINESE BANKING Corp Ltd increased its stake in Deere & Company by 10.7% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 8,280 shares of the industrial products company’s stock valued at $3,863,000 after purchasing an additional 798 shares during the last quarter. Stenger Family Office LLC acquired a new position in shares of Deere & Company in the fourth quarter worth about $3,144,000. Stratos Investment Management LLC bought a new stake in shares of Deere & Company during the 1st quarter worth $271,000. Finally, Telos Capital Management Inc. grew its position in Deere & Company by 28.2% during the first quarter. Telos Capital Management Inc. now owns 3,391 shares of the industrial products company’s stock worth $1,592,000 after buying an additional 746 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

About Deere & Company

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.