Deere & Company (NYSE:DE) Price Target Raised to $500.00

Deere & Company (NYSE:DE) had its price target lifted by Morgan Stanley from $450.00 to $500.00 in a report released on Wednesday morning, Marketbeat reports. Morgan Stanley currently has an overweight rating on the industrial products company’s stock.

Other research analysts have also recently issued reports about the stock. Argus set a $510.00 price target on shares of Deere & Company in a report on Friday, March 7th. Evercore ISI lifted their price target on Deere & Company from $437.00 to $455.00 and gave the stock an “in-line” rating in a report on Wednesday, February 19th. Robert W. Baird restated a “neutral” rating and issued a $501.00 price target on shares of Deere & Company in a research note on Monday, March 3rd. JPMorgan Chase & Co. lifted their target price on Deere & Company from $470.00 to $500.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. Finally, Citigroup cut their price objective on shares of Deere & Company from $480.00 to $450.00 and set a “neutral” rating for the company in a report on Tuesday, April 8th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $459.89.

Deere & Company Price Performance

Shares of NYSE DE opened at $452.06 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 business’s 50 day moving average price is $469.77 and its two-hundred day moving average price is $444.52. The company has a market cap of $122.70 billion, a PE ratio of 20.04, a price-to-earnings-growth ratio of 2.14 and a beta of 1.00. Deere & Company has a twelve month low of $340.20 and a twelve month high of $515.05.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share 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%. On average, analysts predict that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 8th. Shareholders of record on Monday, March 31st will be given a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 1.43%. The ex-dividend date is Monday, March 31st. Deere & Company’s dividend payout ratio (DPR) is currently 28.72%.

Insider Activity

In other 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 completion of the transaction, the insider now directly owns 74,878 shares in the company, valued at $37,484,675.58. This trade represents a 24.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.29% of the company’s stock.

Institutional Trading of Deere & Company

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Robertson Stephens Wealth Management LLC raised its stake in shares of Deere & Company by 2.2% in the 4th quarter. Robertson Stephens Wealth Management LLC now owns 1,002 shares of the industrial products company’s stock valued at $426,000 after buying an additional 22 shares in the last quarter. DLK Investment Management LLC increased its stake in Deere & Company by 0.3% in the fourth quarter. DLK Investment Management LLC now owns 8,212 shares of the industrial products company’s stock valued at $3,479,000 after acquiring an additional 24 shares during the period. Quent Capital LLC raised its position in Deere & Company by 2.8% in the fourth quarter. Quent Capital LLC now owns 889 shares of the industrial products company’s stock worth $377,000 after purchasing an additional 24 shares in the last quarter. Valeo Financial Advisors LLC raised its position in Deere & Company by 0.3% in the fourth quarter. Valeo Financial Advisors LLC now owns 8,019 shares of the industrial products company’s stock worth $3,398,000 after purchasing an additional 24 shares in the last quarter. Finally, Douglas Lane & Associates LLC lifted its stake in Deere & Company by 4.7% during the fourth quarter. Douglas Lane & Associates LLC now owns 557 shares of the industrial products company’s stock worth $236,000 after purchasing an additional 25 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.