Deere & Company (NYSE:DE) PT Lowered to $375.00 at JPMorgan Chase & Co.

Deere & Company (NYSE:DE) had its price objective cut by JPMorgan Chase & Co. from $385.00 to $375.00 in a report published on Thursday, Benzinga reports. They currently have a neutral rating on the industrial products company’s stock.

A number of other brokerages have also recently weighed in on DE. Morgan Stanley boosted their price objective on shares of Deere & Company from $430.00 to $450.00 in a research note on Wednesday, May 15th. DA Davidson decreased their price target on shares of Deere & Company from $483.00 to $465.00 and set a buy rating for the company in a report on Monday, May 20th. Truist Financial dropped their price objective on Deere & Company from $460.00 to $439.00 and set a buy rating on the stock in a research note on Tuesday, July 2nd. Oppenheimer reaffirmed an outperform rating and set a $456.00 price objective on shares of Deere & Company in a report on Thursday, May 16th. Finally, Citigroup started coverage on shares of Deere & Company in a report on Wednesday, June 26th. They issued a neutral rating and a $395.00 target price on the stock. Eleven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of Hold and an average price target of $427.13.

Deere & Company Price Performance

NYSE DE opened at $365.33 on Thursday. Deere & Company has a fifty-two week low of $345.93 and a fifty-two week high of $450.00. The stock’s 50-day moving average is $378.08 and its two-hundred day moving average is $385.05. The firm has a market cap of $100.67 billion, a P/E ratio of 11.00, a price-to-earnings-growth ratio of 1.46 and a beta of 0.93. The company has a debt-to-equity ratio of 1.81, a current ratio of 2.01 and a quick ratio of 1.80.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, May 16th. The industrial products company reported $8.53 earnings per share for the quarter, beating analysts’ consensus estimates of $7.86 by $0.67. The business had revenue of $13.61 billion for the quarter, compared to the consensus estimate of $13.29 billion. Deere & Company had a return on equity of 42.26% and a net margin of 16.15%. The firm’s revenue was down 15.4% compared to the same quarter last year. During the same period last year, the business earned $9.65 EPS. On average, analysts anticipate that Deere & Company will post 25.56 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 8th. Shareholders of record on Friday, June 28th will be paid a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date is Friday, June 28th. Deere & Company’s payout ratio is currently 17.70%.

Insider Transactions at Deere & Company

In related news, insider Cory J. Reed sold 13,370 shares of the business’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $377.63, for a total value of $5,048,913.10. Following the sale, the insider now directly owns 41,642 shares of the company’s stock, valued at approximately $15,725,268.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.26% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. True Wealth Design LLC boosted its position in Deere & Company by 1,180.0% during the fourth quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 59 shares during the period. Pineridge Advisors LLC boosted its holdings in shares of Deere & Company by 725.0% during the 1st quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock worth $27,000 after buying an additional 58 shares during the period. ZRC Wealth Management LLC acquired a new position in Deere & Company in the 4th quarter valued at about $28,000. Rakuten Securities Inc. bought a new position in Deere & Company in the 4th quarter valued at about $28,000. Finally, Naples Money Management LLC acquired a new stake in Deere & Company during the fourth quarter worth approximately $29,000. 68.58% of the stock is owned by institutional investors and hedge funds.

About Deere & Company

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.