Deere & Company (NYSE:DE) Stock Price Up 0.2% Following Analyst Upgrade

Deere & Company (NYSE:DE - Get Free Report)'s stock price was up 0.2% during trading on Monday after JPMorgan Chase & Co. raised their price target on the stock from $415.00 to $425.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Deere & Company traded as high as $404.22 and last traded at $398.08. Approximately 252,239 shares were traded during trading, a decline of 83% from the average daily volume of 1,480,406 shares. The stock had previously closed at $397.27.

DE has been the subject of a number of other reports. Wells Fargo & Company decreased their price target on shares of Deere & Company from $445.00 to $425.00 and set an "overweight" rating for the company in a report on Friday, February 16th. Evercore ISI raised their price objective on shares of Deere & Company from $381.00 to $387.00 and gave the stock an "in-line" rating in a report on Tuesday, February 20th. Truist Financial started coverage on shares of Deere & Company in a report on Thursday, March 14th. They issued a "buy" rating and a $494.00 price target for the company. Citigroup lowered their price target on shares of Deere & Company from $450.00 to $435.00 and set a "buy" rating for the company in a report on Friday, February 16th. Finally, Stifel Nicolaus reduced their price objective on shares of Deere & Company from $435.00 to $425.00 and set a "buy" rating on the stock in a research note on Friday, February 16th. Ten investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $433.28.

Institutional Trading of Deere & Company

Large investors have recently made changes to their positions in the company. Briaud Financial Planning Inc acquired a new stake in shares of Deere & Company during the third quarter valued at $25,000. Retirement Group LLC increased its holdings in shares of Deere & Company by 264.7% in the 2nd quarter. Retirement Group LLC now owns 62 shares of the industrial products company's stock valued at $25,000 after acquiring an additional 45 shares during the last quarter. True Wealth Design LLC boosted its position in Deere & Company by 1,180.0% during the 4th quarter. True Wealth Design LLC now owns 64 shares of the industrial products company's stock worth $26,000 after acquiring an additional 59 shares during the period. ZRC Wealth Management LLC bought a new stake in shares of Deere & Company in the 4th quarter worth $28,000. Finally, Rakuten Securities Inc. acquired a new stake in shares of Deere & Company during the fourth quarter worth $28,000. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Stock Down 0.9 %

The firm has a 50-day moving average of $384.87 and a two-hundred day moving average of $382.45. The company has a quick ratio of 1.81, a current ratio of 2.05 and a debt-to-equity ratio of 1.81. The stock has a market capitalization of $109.62 billion, a price-to-earnings ratio of 11.47, a price-to-earnings-growth ratio of 1.49 and a beta of 1.04.

Deere & Company (NYSE:DE - Get Free Report) last posted its quarterly earnings results on Thursday, February 15th. The industrial products company reported $6.23 EPS for the quarter, beating the consensus estimate of $5.19 by $1.04. The firm had revenue of $10.49 billion during the quarter, compared to analysts' expectations of $10.30 billion. Deere & Company had a return on equity of 44.60% and a net margin of 16.38%. The company's revenue for the quarter was down 8.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $6.55 EPS. As a group, sell-side analysts anticipate that Deere & Company will post 27.41 earnings per share for the current year.

Deere & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Friday, March 29th will be paid a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date of this dividend is Wednesday, March 27th. Deere & Company's dividend payout ratio is currently 17.12%.

Deere & Company Company Profile

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.