Deere & Company (NYSE:DE) Stock Price Expected to Rise, Evercore ISI Analyst Says

Deere & Company (NYSE:DE) had its target price upped by Evercore ISI from $455.00 to $493.00 in a report published on Monday,Benzinga reports. They currently have an in-line rating on the industrial products company’s stock.

DE has been the subject of several other research reports. DA Davidson reaffirmed a “buy” rating and issued a $542.00 price target on shares of Deere & Company in a research report on Friday. Morgan Stanley upped their price target on shares of Deere & Company from $450.00 to $500.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 16th. Bank of America upped their price target on shares of Deere & Company from $495.00 to $556.00 and gave the stock a “neutral” rating in a research report on Friday. Barclays boosted their price objective on shares of Deere & Company from $475.00 to $530.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Raymond James boosted their price objective on shares of Deere & Company from $530.00 to $560.00 and gave the stock an “outperform” rating in a research note on Friday. Thirteen research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $513.00.

Deere & Company Trading Down 0.4%

Shares of DE opened at $529.58 on Monday. Deere & Company has a 1-year low of $340.20 and a 1-year high of $533.78. The company has a 50-day moving average of $469.45 and a 200 day moving average of $455.92. The firm has a market capitalization of $143.74 billion, a price-to-earnings ratio of 23.47, 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 (NYSE:DE) last announced its quarterly earnings data on Thursday, May 15th. The industrial products company reported $6.64 earnings per share for the quarter, beating analysts’ consensus estimates of $5.72 by $0.92. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. The company had revenue of $11.17 billion during the quarter, compared to analyst estimates of $10.80 billion. During the same quarter last year, the business posted $8.53 EPS. The firm’s revenue for the quarter was down 17.9% on a year-over-year basis. On average, research analysts expect that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Announces Dividend

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. SageView Advisory Group LLC increased its stake in Deere & Company by 13.9% during the 1st quarter. SageView Advisory Group LLC now owns 4,093 shares of the industrial products company’s stock valued at $1,921,000 after purchasing an additional 500 shares in the last quarter. Advisory Alpha LLC boosted its holdings in shares of Deere & Company by 0.5% in the 1st quarter. Advisory Alpha LLC now owns 13,101 shares of the industrial products company’s stock valued at $6,149,000 after acquiring an additional 61 shares during the last quarter. Alaethes Wealth LLC boosted its holdings in shares of Deere & Company by 2.5% in the 1st quarter. Alaethes Wealth LLC now owns 4,775 shares of the industrial products company’s stock valued at $2,249,000 after acquiring an additional 115 shares during the last quarter. SCS Capital Management LLC purchased a new stake in shares of Deere & Company in the 1st quarter valued at $340,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Deere & Company by 2.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,815,817 shares of the industrial products company’s stock valued at $852,254,000 after acquiring an additional 35,075 shares during the last quarter. Institutional investors and hedge funds 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.