Deere & Company (NYSE:DE) PT Raised to $410.00 at Bank of America

Deere & Company (NYSE:DE) had its target price boosted by Bank of America from $400.00 to $410.00 in a research report sent to investors on Friday morning, Benzinga reports. The firm currently has a neutral rating on the industrial products company’s stock.

Several other equities analysts have also issued reports on the stock. Morgan Stanley lifted their price objective on shares of Deere & Company from $430.00 to $450.00 in a report on Wednesday, May 15th. Daiwa Capital Markets lifted their price target on Deere & Company from $400.00 to $420.00 and gave the company an overweight rating in a report on Wednesday, May 15th. Oppenheimer decreased their price objective on Deere & Company from $465.00 to $448.00 and set an outperform rating for the company in a research note on Monday, July 22nd. JPMorgan Chase & Co. cut their target price on Deere & Company from $375.00 to $360.00 and set a neutral rating on the stock in a research note on Tuesday, August 13th. Finally, Citigroup decreased their price target on shares of Deere & Company from $395.00 to $370.00 and set a neutral rating for the company in a research report on Tuesday, August 13th. Fourteen equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target price of $421.90.

Deere & Company Trading Down 1.3 %

Shares of DE opened at $372.91 on Friday. The company has a market cap of $102.76 billion, a P/E ratio of 11.23, a P/E/G ratio of 1.59 and a beta of 0.93. The company’s fifty day simple moving average is $367.56 and its 200-day simple moving average is $380.21. Deere & Company has a twelve month low of $340.20 and a twelve month high of $423.35. The company has a current ratio of 2.01, a quick ratio of 1.80 and a debt-to-equity ratio of 1.81.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, topping the consensus estimate of $5.63 by $0.66. The company had revenue of $11.39 billion for the quarter, compared to the consensus estimate of $10.94 billion. Deere & Company had a return on equity of 42.26% and a net margin of 16.15%. Deere & Company’s quarterly revenue was down 20.3% on a year-over-year basis. During the same period last year, the business posted $10.20 EPS. As a group, analysts expect that Deere & Company will post 25.41 EPS for the current year.

Deere & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 8th. Stockholders of record on Friday, June 28th were paid a $1.47 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.58%. Deere & Company’s payout ratio is currently 17.70%.

Insider Buying and Selling at Deere & Company

In other news, insider Cory J. Reed sold 13,370 shares of Deere & Company stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $377.63, for a total transaction of $5,048,913.10. Following the completion of the transaction, the insider now directly owns 41,642 shares of the company’s stock, valued at approximately $15,725,268.46. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.26% of the company’s stock.

Institutional Investors Weigh In On Deere & Company

A number of institutional investors have recently modified their holdings of DE. Vanguard Group Inc. grew its holdings in Deere & Company by 1.2% in the first quarter. Vanguard Group Inc. now owns 21,988,363 shares of the industrial products company’s stock valued at $9,031,500,000 after purchasing an additional 263,709 shares during the period. Janus Henderson Group PLC increased its stake in shares of Deere & Company by 0.5% during the first quarter. Janus Henderson Group PLC now owns 3,859,021 shares of the industrial products company’s stock worth $1,585,028,000 after purchasing an additional 19,200 shares in the last quarter. Parnassus Investments LLC raised its position in shares of Deere & Company by 22.4% during the 4th quarter. Parnassus Investments LLC now owns 3,856,171 shares of the industrial products company’s stock worth $1,541,967,000 after purchasing an additional 705,771 shares during the last quarter. Norges Bank purchased a new position in Deere & Company in the 4th quarter valued at about $1,248,036,000. Finally, Legal & General Group Plc lifted its stake in Deere & Company by 2.7% in the 2nd quarter. Legal & General Group Plc now owns 2,254,266 shares of the industrial products company’s stock valued at $842,259,000 after buying an additional 60,255 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Company Profile

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.