Deere & Company (NYSE:DE) Upgraded at Evercore

Evercore upgraded shares of Deere & Company (NYSE:DE) from an in-line rating to an outperform rating in a research note released on Wednesday, Marketbeat Ratings reports. Evercore currently has $813.00 target price on the industrial products company’s stock.

Several other research firms also recently commented on DE. Bank of America reduced their price target on shares of Deere & Company from $672.00 to $607.50 and set a “neutral” rating on the stock in a research note on Friday, May 22nd. Weiss Ratings reissued a “hold (c+)” rating on shares of Deere & Company in a research report on Tuesday, August 18th. Barclays upped their target price on shares of Deere & Company from $640.00 to $675.00 and gave the stock an “overweight” rating in a research note on Monday, August 24th. Seaport Research Partners set a $570.00 target price on shares of Deere & Company in a research report on Friday, August 14th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Deere & Company from $570.00 to $585.00 and gave the company a “neutral” rating in a research note on Friday, August 21st. Sixteen analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $680.73.

Deere & Company Stock Performance

Shares of Deere & Company stock opened at $692.68 on Wednesday. The stock’s fifty day moving average is $619.13 and its two-hundred day moving average is $596.29. The company has a market capitalization of $186.76 billion, a PE ratio of 38.48, a price-to-earnings-growth ratio of 2.86 and a beta of 0.90. The company has a quick ratio of 1.89, a current ratio of 2.10 and a debt-to-equity ratio of 1.45. Deere & Company has a 52 week low of $433.00 and a 52 week high of $705.88.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, August 20th. The industrial products company reported $5.10 earnings per share for the quarter, topping the consensus estimate of $4.69 by $0.41. The business had revenue of $12.61 billion during the quarter, compared to the consensus estimate of $10.81 billion. Deere & Company had a return on equity of 18.10% and a net margin of 10.16%.The business’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period last year, the company earned $4.75 earnings per share. As a group, analysts expect that Deere & Company will post 18.12 earnings per share for the current year.

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 9th. Investors of record on Wednesday, September 30th will be paid a $1.62 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $6.48 dividend on an annualized basis and a yield of 0.9%. Deere & Company’s dividend payout ratio is 36.00%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Brighton Jones LLC lifted its holdings in Deere & Company by 39.1% during the fourth quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company’s stock worth $1,927,000 after buying an additional 1,278 shares during the period. Schnieders Capital Management LLC. increased its holdings in shares of Deere & Company by 7.8% in the 2nd quarter. Schnieders Capital Management LLC. now owns 2,076 shares of the industrial products company’s stock valued at $1,056,000 after acquiring an additional 150 shares during the period. Jump Financial LLC purchased a new position in shares of Deere & Company in the 2nd quarter valued at $2,153,000. NewEdge Advisors LLC raised its position in shares of Deere & Company by 6.0% in the 2nd quarter. NewEdge Advisors LLC now owns 18,758 shares of the industrial products company’s stock worth $9,538,000 after acquiring an additional 1,067 shares in the last quarter. Finally, Main Street Financial Solutions LLC raised its position in shares of Deere & Company by 6.7% in the 2nd quarter. Main Street Financial Solutions LLC now owns 1,551 shares of the industrial products company’s stock worth $789,000 after acquiring an additional 97 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

About Deere & Company

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.