Deere & Company (NYSE:DE) Sets New 52-Week High – Still a Buy?

Deere & Company (NYSE:DE) reached a new 52-week high on Tuesday . The stock traded as high as $490.95 and last traded at $491.97, with a volume of 298658 shares trading hands. The stock had previously closed at $480.22.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on DE shares. Truist Financial reiterated a “buy” rating and set a $546.00 price target (down previously from $550.00) on shares of Deere & Company in a research note on Friday. UBS Group increased their price target on Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. JPMorgan Chase & Co. raised their target price on shares of Deere & Company from $470.00 to $500.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. Citigroup upped their price target on shares of Deere & Company from $430.00 to $480.00 and gave the company a “neutral” rating in a report on Friday. Finally, Jefferies Financial Group downgraded Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 target price for the company. in a research note on Friday, December 6th. Eleven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Deere & Company currently has an average rating of “Hold” and a consensus target price of $450.12.

Deere & Company Stock Performance

The stock’s 50 day simple moving average is $447.57 and its two-hundred day simple moving average is $417.69. The company has a market capitalization of $136.56 billion, a P/E ratio of 19.59, a P/E/G ratio of 2.87 and a beta of 0.98. The company has a debt-to-equity ratio of 1.89, a current ratio of 2.09 and a quick ratio of 1.90.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, February 13th. The industrial products company reported $3.19 earnings per share for the quarter, topping the consensus estimate of $3.14 by $0.05. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. As a group, research analysts expect that Deere & Company will post 19.38 earnings per share for the current year.

Deere & Company Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st were paid a $1.62 dividend. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. The ex-dividend date was Tuesday, December 31st. This represents a $6.48 annualized dividend and a yield of 1.29%. Deere & Company’s dividend payout ratio is presently 28.72%.

Institutional Trading of Deere & Company

Institutional investors and hedge funds have recently modified their holdings of the stock. Creative Planning boosted its position in shares of Deere & Company by 2.1% during the third quarter. Creative Planning now owns 75,462 shares of the industrial products company’s stock worth $31,493,000 after purchasing an additional 1,555 shares in the last quarter. Resonant Capital Advisors LLC acquired a new stake in Deere & Company during the 3rd quarter worth $206,000. Vest Financial LLC grew its stake in Deere & Company by 196.4% in the third quarter. Vest Financial LLC now owns 2,030 shares of the industrial products company’s stock valued at $847,000 after acquiring an additional 1,345 shares during the period. MBE Wealth Management LLC bought a new stake in shares of Deere & Company in the third quarter worth about $209,000. Finally, Border to Coast Pensions Partnership Ltd raised its position in shares of Deere & Company by 16.2% during the third quarter. Border to Coast Pensions Partnership Ltd now owns 98,400 shares of the industrial products company’s stock worth $40,945,000 after purchasing an additional 13,688 shares during the period. 68.58% of the stock is owned by 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.