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

Deere & Company (NYSE:DE) had its price objective hoisted by Citigroup from $450.00 to $550.00 in a report issued on Monday,Benzinga reports. They currently have a neutral rating on the industrial products company’s stock.

Several other analysts have also recently weighed in on the stock. Bank of America lifted their price target on shares of Deere & Company from $495.00 to $556.00 and gave the company a “neutral” rating in a report on Friday. Barclays boosted their target price on shares of Deere & Company from $475.00 to $530.00 and gave the company an “overweight” rating in a report on Friday. StockNews.com upgraded shares of Deere & Company from a “sell” rating to a “hold” rating in a report on Tuesday, May 13th. JPMorgan Chase & Co. boosted their target price on shares of Deere & Company from $490.00 to $540.00 and gave the company a “neutral” rating in a report on Friday. Finally, Evercore ISI boosted their target price on shares of Deere & Company from $455.00 to $493.00 and gave the company an “in-line” rating in a report on Monday. Thirteen equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $513.00.

Deere & Company Stock Performance

NYSE:DE opened at $529.58 on Monday. The stock has a market cap of $143.74 billion, a P/E ratio of 23.47, a price-to-earnings-growth ratio of 2.14 and a beta of 1.08. The firm’s fifty day simple moving average is $469.45 and its 200 day simple moving average is $455.92. Deere & Company has a twelve month low of $340.20 and a twelve month high of $533.78. The company has a quick ratio of 1.98, a current ratio of 2.22 and a debt-to-equity ratio of 1.94.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share 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 analysts’ expectations of $10.80 billion. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. The firm’s revenue for the quarter was down 17.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $8.53 earnings per share. As a group, research analysts predict that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The business also recently declared 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 dividend payout ratio is presently 28.72%.

Hedge Funds Weigh In On Deere & Company

Several large investors have recently modified their holdings of the stock. Norges Bank purchased a new position in Deere & Company in the 4th quarter worth about $1,244,094,000. GAMMA Investing LLC raised its position in Deere & Company by 61,215.9% in the 1st quarter. GAMMA Investing LLC now owns 1,753,022 shares of the industrial products company’s stock worth $822,781,000 after buying an additional 1,750,163 shares during the last quarter. Castlekeep Investment Advisors LLC purchased a new position in Deere & Company in the 4th quarter worth about $541,437,000. Nuveen LLC purchased a new position in Deere & Company in the 1st quarter worth about $571,073,000. Finally, Price T Rowe Associates Inc. MD raised its position in Deere & Company by 19.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,589,760 shares of the industrial products company’s stock worth $2,792,082,000 after buying an additional 1,095,736 shares during the last quarter. Hedge funds and other institutional investors 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.