Deere & Company (NYSE:DE) Given New $530.00 Price Target at Barclays

Deere & Company (NYSE:DE) had its price objective increased by Barclays from $475.00 to $530.00 in a research report released on Friday morning,Benzinga reports. The brokerage currently has an overweight rating on the industrial products company’s stock.

Several other equities analysts also recently issued reports on the stock. Baird R W downgraded shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 3rd. Oppenheimer increased their price target on shares of Deere & Company from $510.00 to $513.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 22nd. Evercore ISI increased their price target on shares of Deere & Company from $437.00 to $455.00 and gave the stock an “in-line” rating in a research note on Wednesday, February 19th. UBS Group cut their price target on shares of Deere & Company from $462.00 to $440.00 and set a “neutral” rating on the stock in a research note on Monday, April 7th. Finally, Morgan Stanley increased their price target on shares of Deere & Company from $450.00 to $500.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 16th. Thirteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $504.38.

Deere & Company Stock Performance

Shares of DE opened at $531.79 on Friday. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.98 and a current ratio of 2.22. The company has a market capitalization of $144.34 billion, a price-to-earnings ratio of 23.57, a PEG ratio of 2.14 and a beta of 1.08. The company’s 50 day simple moving average is $468.29 and its 200 day simple moving average is $455.02. Deere & Company has a 1 year low of $340.20 and a 1 year high of $533.78.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, May 15th. The industrial products company reported $6.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.72 by $0.92. The business had revenue of $11.17 billion for the quarter, compared to the consensus estimate of $10.80 billion. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. The company’s quarterly revenue was down 17.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $8.53 earnings per share. On average, sell-side analysts predict that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 8th. Stockholders of record on Monday, March 31st were given a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.22%. The ex-dividend date was Monday, March 31st. Deere & Company’s payout ratio is currently 28.72%.

Insider Transactions at Deere & Company

In other news, insider Rajesh Kalathur sold 24,580 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $500.61, for a total value of $12,304,993.80. Following the completion of the sale, the insider now owns 74,878 shares of the company’s stock, valued at $37,484,675.58. This represents a 24.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.29% of the company’s stock.

Institutional Investors Weigh In On Deere & Company

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of Deere & Company by 0.8% in the first quarter. Vanguard Group Inc. now owns 22,063,590 shares of the industrial products company’s stock worth $10,355,546,000 after acquiring an additional 185,671 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Deere & Company by 4.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,876,013 shares of the industrial products company’s stock valued at $3,227,258,000 after purchasing an additional 286,253 shares in the last quarter. Capital World Investors grew its holdings in Deere & Company by 2.7% during the 4th quarter. Capital World Investors now owns 6,058,259 shares of the industrial products company’s stock valued at $2,566,884,000 after purchasing an additional 157,224 shares in the last quarter. FMR LLC grew its holdings in Deere & Company by 22.9% during the 4th 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 in the last quarter. Finally, Geode Capital Management LLC grew its holdings in Deere & Company by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 5,305,571 shares of the industrial products company’s stock valued at $2,247,216,000 after purchasing an additional 97,203 shares in the last quarter. 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.