Deere & Company (NYSE:DE) Stock Price Expected to Rise, Citigroup Analyst Says

Deere & Company (NYSE:DE) had its price target upped by research analysts at Citigroup from $430.00 to $480.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the industrial products company’s stock. Citigroup’s target price would indicate a potential downside of 0.10% from the company’s current price.

Several other brokerages have also recently issued reports on DE. Jefferies Financial Group cut shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 target price on the stock. in a report on Friday, December 6th. JPMorgan Chase & Co. lifted their price target on shares of Deere & Company from $470.00 to $500.00 and gave the stock a “neutral” rating in a research note on Monday. Morgan Stanley raised their price objective on shares of Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a research report on Monday, November 25th. UBS Group boosted their target price on shares of Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Finally, Oppenheimer boosted their target price on shares of Deere & Company from $477.00 to $507.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. Eleven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $448.72.

Deere & Company Stock Up 3.1 %

Shares of NYSE:DE traded up $14.25 during trading on Friday, reaching $480.47. 752,052 shares of the stock traded hands, compared to its average volume of 1,381,427. The stock has a 50-day moving average of $446.23 and a two-hundred day moving average of $415.49. Deere & Company has a 52-week low of $340.20 and a 52-week high of $485.84. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.90 and a current ratio of 2.09. The stock has a market cap of $130.86 billion, a P/E ratio of 18.78, a price-to-earnings-growth ratio of 2.87 and a beta of 0.98.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, February 13th. The industrial products company reported $3.19 EPS for the quarter, beating analysts’ consensus estimates of $3.14 by $0.05. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. As a group, sell-side analysts expect that Deere & Company will post 19.38 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Deere & Company

Large investors have recently added to or reduced their stakes in the stock. Pineridge Advisors LLC boosted its position in Deere & Company by 60.5% in the 4th quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock valued at $29,000 after buying an additional 26 shares during the period. Livelsberger Financial Advisory bought a new stake in shares of Deere & Company in the 3rd quarter valued at about $32,000. Modus Advisors LLC bought a new stake in shares of Deere & Company in the 4th quarter valued at about $32,000. YANKCOM Partnership bought a new stake in shares of Deere & Company in the 4th quarter valued at about $34,000. Finally, Synergy Asset Management LLC bought a new stake in shares of Deere & Company in the 4th quarter valued at about $35,000. 68.58% of the stock is owned by hedge funds and other 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.