JPMorgan Chase & Co. Raises Deere & Company (NYSE:DE) Price Target to $425.00

Deere & Company (NYSE:DEFree Report) had its price objective lifted by JPMorgan Chase & Co. from $415.00 to $425.00 in a research note released on Friday morning, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the industrial products company’s stock.

Other research analysts have also issued research reports about the stock. Evercore ISI raised their price objective on shares of Deere & Company from $381.00 to $387.00 and gave the company an in-line rating in a research note on Tuesday, February 20th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Deere & Company from $425.00 to $401.00 and set a hold rating for the company in a research note on Friday, February 16th. Wells Fargo & Company lowered their price objective on shares of Deere & Company from $445.00 to $425.00 and set an overweight rating for the company in a research note on Friday, February 16th. Citigroup lowered their price objective on shares of Deere & Company from $450.00 to $435.00 and set a buy rating for the company in a research note on Friday, February 16th. Finally, Melius Research reissued a hold rating on shares of Deere & Company in a research note on Monday, January 8th. Ten analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of Hold and an average target price of $433.28.

Read Our Latest Stock Report on DE

Deere & Company Price Performance

Shares of DE opened at $397.27 on Friday. Deere & Company has a 1-year low of $345.55 and a 1-year high of $450.00. The stock has a market cap of $110.58 billion, a PE ratio of 11.57, a P/E/G ratio of 1.55 and a beta of 1.04. The firm has a 50-day simple moving average of $384.71 and a two-hundred day simple moving average of $382.38. The company has a debt-to-equity ratio of 1.81, a current ratio of 2.05 and a quick ratio of 1.81.

Deere & Company (NYSE:DEGet Free Report) last announced its quarterly earnings results on Thursday, February 15th. The industrial products company reported $6.23 earnings per share for the quarter, beating analysts’ consensus estimates of $5.19 by $1.04. Deere & Company had a net margin of 16.38% and a return on equity of 44.60%. The business had revenue of $10.49 billion during the quarter, compared to analysts’ expectations of $10.30 billion. During the same period last year, the business earned $6.55 earnings per share. The business’s revenue for the quarter was down 8.0% on a year-over-year basis. As a group, analysts forecast that Deere & Company will post 27.41 EPS for the current year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Friday, March 29th will be given a dividend of $1.47 per share. The ex-dividend date is Wednesday, March 27th. This represents a $5.88 annualized dividend and a dividend yield of 1.48%. Deere & Company’s dividend payout ratio is presently 17.12%.

Institutional Trading of Deere & Company

Institutional investors have recently modified their holdings of the stock. Pinnacle Associates Ltd. increased its holdings in shares of Deere & Company by 21.3% in the 4th quarter. Pinnacle Associates Ltd. now owns 5,355 shares of the industrial products company’s stock valued at $2,141,000 after acquiring an additional 939 shares during the period. Penserra Capital Management LLC increased its holdings in shares of Deere & Company by 2.4% in the 3rd quarter. Penserra Capital Management LLC now owns 236,696 shares of the industrial products company’s stock valued at $89,322,000 after acquiring an additional 5,485 shares during the period. New Mexico Educational Retirement Board increased its holdings in shares of Deere & Company by 6.9% in the 3rd quarter. New Mexico Educational Retirement Board now owns 14,002 shares of the industrial products company’s stock valued at $5,284,000 after acquiring an additional 900 shares during the period. Centric Wealth Management acquired a new position in shares of Deere & Company in the 3rd quarter valued at $2,640,000. Finally, Graham Capital Management L.P. increased its holdings in shares of Deere & Company by 483.3% in the 3rd quarter. Graham Capital Management L.P. now owns 17,500 shares of the industrial products company’s stock valued at $6,604,000 after acquiring an additional 14,500 shares during the period. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Company Profile

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Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.

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Analyst Recommendations for Deere & Company (NYSE:DE)

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