Oppenheimer Issues Positive Forecast for Deere & Company (NYSE:DE) Stock Price

Deere & Company (NYSE:DE) had its price target boosted by Oppenheimer from $448.00 to $477.00 in a report issued on Friday, MarketBeat reports. Oppenheimer currently has an outperform rating on the industrial products company’s stock.

Several other equities research analysts have also recently issued reports on DE. Evercore ISI lifted their price objective on Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a report on Monday, August 19th. Bank of America boosted their price target on Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a research report on Friday, August 16th. Deutsche Bank Aktiengesellschaft decreased their price objective on Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a report on Thursday, August 8th. BMO Capital Markets assumed coverage on shares of Deere & Company in a report on Friday, August 9th. They set a “market perform” rating and a $400.00 target price for the company. Finally, Truist Financial raised their price target on shares of Deere & Company from $443.00 to $496.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Thirteen equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $431.61.

Deere & Company Stock Performance

NYSE DE opened at $446.65 on Friday. The firm has a market capitalization of $122.20 billion, a P/E ratio of 17.45, a PEG ratio of 1.70 and a beta of 0.93. The stock has a 50-day simple moving average of $406.99 and a two-hundred day simple moving average of $386.49. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.87 and a current ratio of 2.09. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $447.50.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, topping analysts’ consensus estimates of $3.90 by $0.65. The business had revenue of $9.28 billion for the quarter, compared to analysts’ expectations of $9.20 billion. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The business’s revenue was down 32.8% on a year-over-year basis. During the same quarter last year, the company earned $8.26 EPS. On average, equities analysts forecast that Deere & Company will post 21.41 earnings per share for the current year.

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Monday, September 30th were issued a $1.47 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.32%. Deere & Company’s payout ratio is 22.97%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of DE. Fairscale Capital LLC purchased a new stake in shares of Deere & Company during the 2nd quarter worth $26,000. Pineridge Advisors LLC boosted its holdings in Deere & Company by 725.0% during the first quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock worth $27,000 after buying an additional 58 shares in the last quarter. Livelsberger Financial Advisory acquired a new position in Deere & Company during the third quarter worth about $32,000. Olistico Wealth LLC acquired a new position in Deere & Company during the second quarter worth about $37,000. Finally, Centennial Bank AR increased its holdings in Deere & Company by 420.0% in the second quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock valued at $39,000 after buying an additional 84 shares in the last quarter. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

About Deere & Company

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.