Deere & Company (NYSE:DE) Reaches New 52-Week High – Should You Buy?

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

Wall Street Analyst Weigh In

Several brokerages recently weighed in on DE. Truist Financial raised their price objective on shares of Deere & Company from $538.00 to $550.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Oppenheimer upped their target price on Deere & Company from $448.00 to $477.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. UBS Group boosted their price objective on Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Citigroup reduced their price target on shares of Deere & Company from $470.00 to $430.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. Finally, JPMorgan Chase & Co. upped their price target on Deere & Company from $450.00 to $470.00 and gave the company a “neutral” rating in a report on Wednesday, January 15th. Eleven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $442.83.

Get Our Latest Analysis on DE

Deere & Company Stock Performance

The company has a current ratio of 2.09, a quick ratio of 1.90 and a debt-to-equity ratio of 1.89. The stock has a 50 day moving average price of $435.34 and a two-hundred day moving average price of $404.30. The company has a market cap of $128.46 billion, a price-to-earnings ratio of 18.42, a P/E/G ratio of 2.86 and a beta of 0.98.

Deere & Company (NYSE:DEGet Free Report) last announced its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, beating analysts’ consensus estimates of $3.89 by $0.66. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The business had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.20 billion. During the same period last year, the company posted $8.26 EPS. Deere & Company’s revenue for the quarter was down 32.8% on a year-over-year basis. Analysts predict that Deere & Company will post 19.34 EPS for the current year.

Deere & Company Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Tuesday, December 31st will be paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.37%. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. The ex-dividend date is Tuesday, December 31st. Deere & Company’s dividend payout ratio is presently 25.31%.

Institutional Investors Weigh In On Deere & Company

Hedge funds and other institutional investors have recently bought and sold shares of the company. Thrivent Financial for Lutherans boosted its stake in shares of Deere & Company by 5.9% during the 2nd quarter. Thrivent Financial for Lutherans now owns 31,298 shares of the industrial products company’s stock worth $11,694,000 after acquiring an additional 1,740 shares during the period. DRW Securities LLC bought a new stake in Deere & Company during the second quarter worth about $234,000. Public Sector Pension Investment Board increased its stake in Deere & Company by 80.5% in the second quarter. Public Sector Pension Investment Board now owns 9,171 shares of the industrial products company’s stock valued at $3,427,000 after acquiring an additional 4,091 shares during the last quarter. Evergreen Capital Management LLC increased its stake in shares of Deere & Company by 10.2% in the 2nd quarter. Evergreen Capital Management LLC now owns 1,537 shares of the industrial products company’s stock valued at $577,000 after purchasing an additional 142 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in Deere & Company by 59.0% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 50,653 shares of the industrial products company’s stock valued at $18,925,000 after acquiring an additional 18,789 shares during the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

About Deere & Company

(Get Free Report)

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.

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