Deere & Company (NYSE:DE) PT Lowered to $439.00

Deere & Company (NYSE:DE) had its target price lowered by Truist Financial from $460.00 to $439.00 in a research note issued on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the industrial products company’s stock. Truist Financial’s price target would indicate a potential upside of 21.68% from the stock’s previous close.

Several other research firms also recently commented on DE. DA Davidson decreased their price target on shares of Deere & Company from $483.00 to $465.00 and set a “buy” rating on the stock in a research note on Monday, May 20th. Morgan Stanley raised their target price on shares of Deere & Company from $430.00 to $450.00 in a report on Wednesday, May 15th. Oppenheimer reiterated an “outperform” rating and issued a $456.00 price target on shares of Deere & Company in a research note on Thursday, May 16th. TD Cowen raised their price objective on Deere & Company from $383.00 to $390.00 and gave the stock a “hold” rating in a research note on Friday, May 17th. Finally, Raymond James initiated coverage on Deere & Company in a research report on Friday. They set an “outperform” rating and a $420.00 target price for the company. Eleven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $427.66.

Deere & Company Stock Down 3.4 %

Shares of DE opened at $360.77 on Tuesday. The firm has a market cap of $99.42 billion, a P/E ratio of 10.86, a price-to-earnings-growth ratio of 1.50 and a beta of 0.93. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.80 and a current ratio of 2.01. Deere & Company has a 52 week low of $353.15 and a 52 week high of $450.00. The firm’s 50-day simple moving average is $385.32 and its 200 day simple moving average is $387.29.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, May 16th. The industrial products company reported $8.53 earnings per share for the quarter, topping analysts’ consensus estimates of $7.86 by $0.67. The company had revenue of $13.61 billion for the quarter, compared to analyst estimates of $13.29 billion. Deere & Company had a return on equity of 42.26% and a net margin of 16.15%. The firm’s quarterly revenue was down 15.4% compared to the same quarter last year. During the same quarter last year, the company earned $9.65 earnings per share. On average, analysts forecast that Deere & Company will post 25.61 earnings per share for the current year.

Insiders Place Their Bets

In other Deere & Company news, insider Cory J. Reed sold 13,370 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $377.63, for a total value of $5,048,913.10. Following the completion of the transaction, the insider now directly owns 41,642 shares in the company, valued at approximately $15,725,268.46. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.26% of the company’s stock.

Institutional Investors Weigh In On Deere & Company

Several institutional investors and hedge funds have recently made changes to their positions in DE. Alps Advisors Inc. grew its holdings in Deere & Company by 503.1% during the 3rd quarter. Alps Advisors Inc. now owns 14,312 shares of the industrial products company’s stock worth $5,401,000 after acquiring an additional 11,939 shares during the period. Legacy Advisors LLC increased its holdings in Deere & Company by 566.2% in the third quarter. Legacy Advisors LLC now owns 3,611 shares of the industrial products company’s stock worth $1,363,000 after purchasing an additional 3,069 shares in the last quarter. Lowe Brockenbrough & Co. Inc. lifted its stake in Deere & Company by 10.2% in the third quarter. Lowe Brockenbrough & Co. Inc. now owns 4,013 shares of the industrial products company’s stock valued at $1,520,000 after buying an additional 370 shares during the period. London Co. of Virginia lifted its stake in Deere & Company by 3.4% in the third quarter. London Co. of Virginia now owns 14,989 shares of the industrial products company’s stock valued at $5,657,000 after buying an additional 496 shares during the period. Finally, Jackson Wealth Management LLC boosted its holdings in shares of Deere & Company by 1.4% during the 3rd quarter. Jackson Wealth Management LLC now owns 8,258 shares of the industrial products company’s stock worth $3,116,000 after buying an additional 117 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Company Profile

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.