Deere & Company (NYSE:DE) Given New $500.00 Price Target at JPMorgan Chase & Co.

Deere & Company (NYSE:DE) had its target price upped by JPMorgan Chase & Co. from $470.00 to $500.00 in a research report report published on Monday,Benzinga reports. They currently have a neutral rating on the industrial products company’s stock.

Other equities research analysts have also recently issued research reports about the company. Citigroup reduced their price objective on Deere & Company from $470.00 to $430.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. Morgan Stanley boosted their price objective on Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a research note on Monday, November 25th. Jefferies Financial Group cut Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price objective for the company. in a research note on Friday, December 6th. 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. Finally, Oppenheimer boosted their price objective on Deere & Company from $477.00 to $507.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. Eleven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $446.17.

Deere & Company Price Performance

DE stock opened at $476.53 on Monday. The business has a 50 day moving average price of $445.46 and a 200 day moving average price of $414.70. The stock has a market cap of $129.78 billion, a price-to-earnings ratio of 18.61, a PEG ratio of 2.87 and a beta of 0.98. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $485.84. 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 (NYSE:DE) last posted its earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, topping the consensus estimate of $3.89 by $0.66. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The firm had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9.20 billion. During the same quarter in the previous year, the business earned $8.26 earnings per share. The firm’s revenue was down 32.8% compared to the same quarter last year. Equities research analysts anticipate that Deere & Company will post 19.38 earnings per share for the current fiscal year.

Deere & Company Increases Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 1.36%. 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 currently 25.31%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Landscape Capital Management L.L.C. acquired a new position in Deere & Company during the fourth quarter worth $2,017,000. Annis Gardner Whiting Capital Advisors LLC grew its holdings in Deere & Company by 2.5% during the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 1,795 shares of the industrial products company’s stock worth $763,000 after acquiring an additional 43 shares during the period. Atlas Capital Advisors Inc. grew its holdings in Deere & Company by 420.0% during the fourth quarter. Atlas Capital Advisors Inc. now owns 7,057 shares of the industrial products company’s stock worth $2,990,000 after acquiring an additional 5,700 shares during the period. ExodusPoint Capital Management LP acquired a new position in Deere & Company during the fourth quarter worth $5,646,000. Finally, Arete Wealth Advisors LLC grew its holdings in Deere & Company by 12.2% during the fourth quarter. Arete Wealth Advisors LLC now owns 2,404 shares of the industrial products company’s stock worth $1,019,000 after acquiring an additional 261 shares during the period. Institutional investors and hedge funds 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.