Deere & Company (NYSE:DE) Given New $514.00 Price Target at Robert W. Baird

Deere & Company (NYSE:DE) had its target price hoisted by Robert W. Baird from $501.00 to $514.00 in a research report released on Friday morning,Benzinga reports. They currently have a neutral rating on the industrial products company’s stock.

A number of other analysts also recently commented on the company. Argus set a $510.00 price target on Deere & Company in a research report on Friday, March 7th. UBS Group decreased their target price on Deere & Company from $462.00 to $440.00 and set a “neutral” rating for the company in a research report on Monday, April 7th. Citigroup lowered their target price on Deere & Company from $480.00 to $450.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 8th. Truist Financial reissued a “buy” rating and issued a $546.00 price target (down from $550.00) on shares of Deere & Company in a report on Friday, February 14th. Finally, Evercore ISI raised their price objective on shares of Deere & Company from $437.00 to $455.00 and gave the stock an “in-line” rating in a report on Wednesday, February 19th. Thirteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $504.38.

Deere & Company Stock Performance

NYSE DE opened at $531.79 on Friday. The company has a fifty day moving average price of $468.29 and a 200-day moving average price of $455.02. The firm has a market cap 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 has a debt-to-equity ratio of 1.94, a current ratio of 2.22 and a quick ratio of 1.98. Deere & Company has a 1 year low of $340.20 and a 1 year high of $533.78.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, May 15th. The industrial products company reported $6.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.72 by $0.92. The business had revenue of $11.17 billion during 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 firm’s quarterly revenue was down 17.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $8.53 EPS. As a group, equities research analysts predict that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

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

Insider Activity

In related news, insider Rajesh Kalathur sold 24,580 shares of the business’s stock in a transaction on 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 sale, the insider now directly owns 74,878 shares in the company, valued at approximately $37,484,675.58. The trade was a 24.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.29% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings 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 purchasing an additional 185,671 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of Deere & Company by 4.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,876,013 shares of the industrial products company’s stock worth $3,227,258,000 after purchasing an additional 286,253 shares during the period. Capital World Investors increased its holdings in shares of Deere & Company by 2.7% in the fourth quarter. Capital World Investors now owns 6,058,259 shares of the industrial products company’s stock worth $2,566,884,000 after purchasing an additional 157,224 shares during the period. FMR LLC increased its holdings in shares of Deere & Company by 22.9% in the fourth quarter. FMR LLC now owns 5,581,408 shares of the industrial products company’s stock worth $2,364,843,000 after purchasing an additional 1,039,395 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of Deere & Company by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 5,305,571 shares of the industrial products company’s stock worth $2,247,216,000 after purchasing an additional 97,203 shares during the period. Institutional investors own 68.58% of the company’s stock.

About Deere & Company

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.