Deere & Company (NYSE:DE) Given New $460.00 Price Target at JPMorgan Chase & Co.

Deere & Company (NYSE:DE) had its target price lowered by JPMorgan Chase & Co. from $480.00 to $460.00 in a research report released on Friday,MarketScreener reports. The firm currently has a neutral rating on the industrial products company’s stock.

A number of other equities research analysts also recently weighed in on DE. Evercore ISI reiterated a “positive” rating on shares of Deere & Company in a report on Friday, November 28th. DA Davidson reaffirmed a “buy” rating and issued a $580.00 price objective on shares of Deere & Company in a report on Monday, December 1st. UBS Group reiterated a “buy” rating on shares of Deere & Company in a research note on Tuesday, November 25th. Zacks Research raised shares of Deere & Company from a “strong sell” rating to a “hold” rating in a report on Wednesday, December 3rd. Finally, Wall Street Zen downgraded shares of Deere & Company from a “hold” rating to a “sell” rating in a research report on Friday, November 28th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Deere & Company currently has a consensus rating of “Moderate Buy” and a consensus price target of $522.70.

Deere & Company Price Performance

DE opened at $470.62 on Friday. The company has a market capitalization of $127.22 billion, a P/E ratio of 25.43, a PEG ratio of 1.79 and a beta of 1.00. The company has a 50-day moving average of $471.38 and a 200-day moving average of $486.77. The company has a debt-to-equity ratio of 1.68, a quick ratio of 2.01 and a current ratio of 2.22. Deere & Company has a 1-year low of $403.01 and a 1-year high of $533.78.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Wednesday, November 26th. The industrial products company reported $3.93 EPS for the quarter, missing the consensus estimate of $3.96 by ($0.03). Deere & Company had a return on equity of 20.54% and a net margin of 11.00%.The company had revenue of $12.39 billion for the quarter, compared to the consensus estimate of $9.77 billion. During the same period in the previous year, the business posted $4.55 EPS. The business’s revenue for the quarter was up 14.1% on a year-over-year basis. Equities analysts expect that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, February 9th. Stockholders of record on Wednesday, December 31st will be issued a dividend of $1.62 per share. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $6.48 annualized dividend and a dividend yield of 1.4%. Deere & Company’s payout ratio is 35.01%.

Insider Activity at Deere & Company

In related news, CEO John C. May II sold 11,106 shares of the stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $500.08, for a total value of $5,553,888.48. Following the sale, the chief executive officer owned 112,453 shares of the company’s stock, valued at $56,235,496.24. This trade represents a 8.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.29% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of DE. Mid American Wealth Advisory Group Inc. acquired a new position in shares of Deere & Company during the second quarter worth approximately $25,000. Howard Hughes Medical Institute bought a new stake in Deere & Company during the 2nd quarter valued at $27,000. Strategic Advocates LLC acquired a new position in Deere & Company during the 3rd quarter worth $25,000. Activest Wealth Management grew its stake in shares of Deere & Company by 2,750.0% in the first quarter. Activest Wealth Management now owns 57 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 55 shares in the last quarter. Finally, Wealth Watch Advisors INC acquired a new position in shares of Deere & Company during the third quarter valued at $32,000. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Company Profile

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.