Deere & Company’s (DE) Buy Rating Reiterated at Truist Financial

Truist Financial reissued their buy rating on shares of Deere & Company (NYSE:DE) in a research report released on Friday,Benzinga reports. The brokerage currently has a $546.00 price target on the industrial products company’s stock, down from their previous price target of $550.00.

A number of other equities analysts also recently issued reports on DE. Morgan Stanley increased their price target on Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a research report on Monday, November 25th. UBS Group increased their price target on Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. JPMorgan Chase & Co. raised their price objective on Deere & Company from $470.00 to $500.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. Oppenheimer raised their price objective on Deere & Company from $477.00 to $507.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Finally, 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. Eleven analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Deere & Company has an average rating of “Hold” and a consensus target price of $448.72.

Deere & Company Stock Performance

Shares of Deere & Company stock opened at $480.17 on Friday. The stock’s fifty day moving average is $446.23 and its two-hundred day moving average is $415.49. The company has a market capitalization 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 quick ratio of 1.90, a current ratio of 2.09 and a debt-to-equity ratio of 1.89. Deere & Company has a 52 week low of $340.20 and a 52 week 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 EPS for the quarter, beating the consensus estimate 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, analysts expect that Deere & Company will post 19.38 earnings per share for the current 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 represents a $6.48 annualized dividend and a yield of 1.35%. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. The ex-dividend date was Tuesday, December 31st. Deere & Company’s dividend payout ratio (DPR) is 25.31%.

Institutional Trading of Deere & Company

Several institutional investors have recently bought and sold shares of DE. Norges Bank acquired a new stake in Deere & Company in the fourth quarter valued at approximately $1,244,094,000. Wellington Management Group LLP grew its holdings in Deere & Company by 32.0% in the third quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company’s stock valued at $3,068,404,000 after purchasing an additional 1,782,984 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Deere & Company by 19.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,589,760 shares of the industrial products company’s stock valued at $2,792,082,000 after purchasing an additional 1,095,736 shares during the period. FMR LLC grew its holdings in Deere & Company by 22.9% in the fourth quarter. FMR LLC now owns 5,581,408 shares of the industrial products company’s stock valued at $2,364,843,000 after purchasing an additional 1,039,395 shares during the period. Finally, Pathway Financial Advisers LLC grew its holdings in Deere & Company by 53,338.6% in the third quarter. Pathway Financial Advisers LLC now owns 854,484 shares of the industrial products company’s stock valued at $356,602,000 after purchasing an additional 852,885 shares during the period. 68.58% of the stock is 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.