Deere & Company (NYSE:DE) PT Raised to $420.00

Deere & Company (NYSE:DE) had its price objective hoisted by analysts at JPMorgan Chase & Co. from $360.00 to $420.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the industrial products company’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 2.17% from the company’s previous close.

DE has been the subject of a number of other research reports. Truist Financial raised their price target on Deere & Company from $443.00 to $496.00 and gave the company a “buy” rating in a research report on Wednesday. Raymond James assumed coverage on Deere & Company in a research report on Friday, June 28th. They set an “outperform” rating and a $420.00 price target for the company. Morgan Stanley cut their price objective on Deere & Company from $450.00 to $425.00 and set an “overweight” rating on the stock in a research report on Monday, August 26th. Hsbc Global Res cut shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 19th. Finally, Bank of America boosted their target price on shares of Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a research report on Friday, August 16th. Twelve analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Deere & Company currently has a consensus rating of “Hold” and an average price target of $420.69.

Deere & Company Stock Up 1.3 %

Deere & Company stock opened at $411.08 on Friday. The stock’s fifty day moving average is $387.01 and its two-hundred day moving average is $385.44. The stock has a market cap of $113.28 billion, a PE ratio of 12.37, a P/E/G ratio of 1.35 and a beta of 0.92. Deere & Company has a 1-year low of $340.20 and a 1-year high of $420.47. The company has a debt-to-equity ratio of 1.85, a current ratio of 2.07 and a quick ratio of 1.87.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, beating the consensus estimate of $5.63 by $0.66. The firm had revenue of $11.39 billion during the quarter, compared to the consensus estimate of $10.94 billion. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The firm’s revenue was down 20.3% compared to the same quarter last year. During the same period in the prior year, the business earned $10.20 EPS. On average, sell-side analysts expect that Deere & Company will post 25.03 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Studio Investment Management LLC raised its stake in shares of Deere & Company by 13.6% during the 4th quarter. Studio Investment Management LLC now owns 6,210 shares of the industrial products company’s stock worth $2,483,000 after purchasing an additional 743 shares in the last quarter. Clarity Asset Management Inc. acquired a new position in Deere & Company during the 4th quarter valued at $374,000. Security National Bank of Sioux City Iowa IA bought a new position in Deere & Company during the fourth quarter valued at about $206,000. Bluefin Capital Management LLC acquired a new stake in Deere & Company during the fourth quarter worth $1,357,000. Finally, Winslow Asset Management Inc. lifted its stake in Deere & Company by 1.4% during the fourth quarter. Winslow Asset Management Inc. now owns 17,426 shares of the industrial products company’s stock worth $6,968,000 after purchasing an additional 236 shares during the period. 68.58% of the stock is owned by hedge funds and other institutional investors.

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.