Deere & Company (NYSE:DE) Price Target Raised to $513.00 at Oppenheimer

Deere & Company (NYSE:DE - Free Report) had its price target raised by Oppenheimer from $510.00 to $513.00 in a research note published on Tuesday morning, Marketbeat Ratings reports. Oppenheimer currently has an outperform rating on the industrial products company's stock.

Other equities analysts have also issued research reports about the company. Baird R W lowered Deere & Company from a "strong-buy" rating to a "hold" rating in a report on Monday, March 3rd. Morgan Stanley lifted their target price on Deere & Company from $450.00 to $500.00 and gave the company an "overweight" rating in a research note on Wednesday, April 16th. Citigroup decreased their price target on Deere & Company from $480.00 to $450.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. Robert W. Baird reissued a "neutral" rating and issued a $501.00 price objective on shares of Deere & Company in a research note on Monday, March 3rd. Finally, Argus set a $510.00 target price on shares of Deere & Company in a research note on Friday, March 7th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $460.21.

Deere & Company Stock Performance

Shares of NYSE DE traded down $5.59 during trading hours on Tuesday, reaching $458.92. The stock had a trading volume of 983,357 shares, compared to its average volume of 1,423,235. The firm has a market cap of $124.56 billion, a price-to-earnings ratio of 20.34, a PEG ratio of 2.14 and a beta of 1.00. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $515.05. The firm has a 50-day moving average of $467.21 and a 200-day moving average of $446.44. The company has a current ratio of 2.22, a quick ratio of 1.98 and a debt-to-equity ratio of 1.94.

Deere & Company (NYSE:DE - Get Free Report) last announced its earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.14 by $0.05. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. Equities research analysts predict that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 8th. Stockholders of record on Monday, March 31st will be given a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.41%. The ex-dividend date is Monday, March 31st. Deere & Company's payout ratio is 28.72%.

Insiders Place Their Bets

In other news, insider Rajesh Kalathur sold 24,580 shares of the stock in a transaction that occurred 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. This represents a 24.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.29% of the stock is owned by company insiders.

Institutional Investors Weigh In On Deere & Company

Several large investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD lifted 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 valued at $2,792,082,000 after purchasing an additional 1,095,736 shares during the last quarter. Capital World Investors raised its holdings in shares of Deere & Company by 2.7% during the fourth quarter. Capital World Investors now owns 6,058,259 shares of the industrial products company's stock valued at $2,566,884,000 after buying an additional 157,224 shares during the last quarter. FMR LLC raised its holdings in shares of Deere & Company by 22.9% during the fourth quarter. FMR LLC now owns 5,581,408 shares of the industrial products company's stock valued at $2,364,843,000 after buying an additional 1,039,395 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Deere & Company by 1.9% during 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 buying an additional 97,203 shares during the period. Finally, Norges Bank bought a new position in Deere & Company in the 4th quarter worth approximately $1,244,094,000. 68.58% of the stock is owned by institutional investors and hedge funds.

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.