Deere & Company (NYSE:DE) Price Target Lowered to $430.00 at Citigroup

Deere & Company (NYSE:DE) had its price objective cut by research analysts at Citigroup from $470.00 to $430.00 in a report released on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the industrial products company’s stock. Citigroup’s target price indicates a potential upside of 0.27% from the company’s current price.

DE has been the subject of several other reports. Barclays raised their target price on Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Truist Financial raised their target price on Deere & Company from $538.00 to $550.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. JPMorgan Chase & Co. boosted their target price on shares of Deere & Company from $420.00 to $450.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Oppenheimer upped their price objective on Deere & Company from $448.00 to $477.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Finally, UBS Group lifted 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. Eleven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $442.83.

Deere & Company Stock Performance

Shares of DE opened at $428.84 on Tuesday. Deere & Company has a 12-month low of $340.20 and a 12-month high of $469.39. The stock has a market capitalization of $116.80 billion, a P/E ratio of 16.75, a P/E/G ratio of 1.88 and a beta of 0.98. The firm’s 50 day moving average is $429.20 and its 200-day moving average is $400.87. 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 released 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 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 quarter 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. Equities research analysts anticipate that Deere & Company will post 19.41 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Wellington Management Group LLP increased its holdings in Deere & Company by 32.0% during the 3rd quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company’s stock worth $3,068,404,000 after purchasing an additional 1,782,984 shares in the last quarter. FMR LLC lifted its stake in Deere & Company by 27.8% in the 3rd quarter. FMR LLC now owns 4,542,013 shares of the industrial products company’s stock valued at $1,895,518,000 after acquiring an additional 988,380 shares in the last quarter. Pathway Financial Advisers LLC boosted its position in Deere & Company by 53,338.6% during the 3rd quarter. Pathway Financial Advisers LLC now owns 854,484 shares of the industrial products company’s stock worth $356,602,000 after acquiring an additional 852,885 shares during the last quarter. International Assets Investment Management LLC grew its stake in shares of Deere & Company by 46,892.9% during the 3rd quarter. International Assets Investment Management LLC now owns 772,094 shares of the industrial products company’s stock worth $322,218,000 after acquiring an additional 770,451 shares in the last quarter. Finally, Stockbridge Partners LLC grew its stake in shares of Deere & Company by 157.5% during the 3rd quarter. Stockbridge Partners LLC now owns 884,237 shares of the industrial products company’s stock worth $369,019,000 after acquiring an additional 540,874 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

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.