Deere & Company (NYSE:DE) Reaches New 1-Year High – What’s Next?

Deere & Company (NYSE:DE) hit a new 52-week high during trading on Thursday . The company traded as high as $472.90 and last traded at $472.41, with a volume of 328167 shares traded. The stock had previously closed at $459.75.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. JPMorgan Chase & Co. boosted their target price on shares of Deere & Company from $450.00 to $470.00 and gave the company a “neutral” rating in a research note on Wednesday, January 15th. Jefferies Financial Group downgraded shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price objective for the company. in a research report on Friday, December 6th. Oppenheimer raised their target price on Deere & Company from $448.00 to $477.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. Truist Financial upped their price target on Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Finally, Citigroup dropped their price objective on Deere & Company from $470.00 to $430.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th. Eleven analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $442.83.

Deere & Company Stock Performance

The company has a market cap of $130.43 billion, a PE ratio of 18.71, a PEG ratio of 2.84 and a beta of 0.98. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.90 and a current ratio of 2.09. The firm’s 50 day moving average is $438.55 and its 200-day moving average is $405.66.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.89 by $0.66. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The business had revenue of $9.28 billion during the quarter, compared to analyst estimates of $9.20 billion. During the same period in the prior year, the business earned $8.26 earnings per share. The business’s revenue was down 32.8% compared to the same quarter last year. On average, research analysts anticipate that Deere & Company will post 19.34 earnings per share for the current fiscal year.

Deere & Company Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st will be paid a $1.62 dividend. The ex-dividend date is Tuesday, December 31st. This is an increase from Deere & Company’s previous quarterly dividend of $1.47. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.35%. Deere & Company’s dividend payout ratio (DPR) is 25.31%.

Hedge Funds Weigh In On Deere & Company

A number of institutional investors have recently bought and sold shares of DE. Livelsberger Financial Advisory acquired a new position in Deere & Company during the 3rd quarter worth about $32,000. Modus Advisors LLC purchased a new stake in Deere & Company during the 4th quarter worth about $32,000. Synergy Asset Management LLC purchased a new stake in Deere & Company during the 4th quarter worth about $35,000. Centennial Bank AR boosted its stake in shares of Deere & Company by 420.0% in the 2nd quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock valued at $39,000 after buying an additional 84 shares during the period. Finally, Continuum Advisory LLC grew its position in shares of Deere & Company by 155.8% during the third quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock worth $43,000 after buying an additional 67 shares in the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Company Profile

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.