Deere & Company (NYSE:DE) Price Target Raised to $450.00 at JPMorgan Chase & Co.

Deere & Company (NYSE:DE) had its target price increased by stock analysts at JPMorgan Chase & Co. from $420.00 to $450.00 in a report issued on Friday,Benzinga reports. The firm currently has a “neutral” rating on the industrial products company’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 0.75% from the company’s current price.

Several other equities research analysts have also commented on DE. Bank of America raised their price target on shares of Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a research note on Friday, August 16th. Hsbc Global Res downgraded Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 19th. Evercore ISI boosted their price target on Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a research report on Monday, August 19th. Truist Financial raised their price target on Deere & Company from $443.00 to $496.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, Oppenheimer upped their price objective on shares of Deere & Company from $448.00 to $477.00 and gave the stock an “outperform” rating in a report on Friday. Thirteen research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $431.61.

Deere & Company Trading Up 2.1 %

Shares of NYSE DE opened at $446.65 on Friday. Deere & Company has a 12-month low of $340.20 and a 12-month high of $447.50. The company has a market cap of $122.20 billion, a price-to-earnings ratio of 17.45, a price-to-earnings-growth ratio of 1.70 and a beta of 0.93. The company has a current ratio of 2.09, a quick ratio of 1.87 and a debt-to-equity ratio of 1.89. The stock’s 50 day simple moving average is $406.99 and its 200 day simple moving average is $386.36.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.90 by $0.65. The company had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.20 billion. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The company’s revenue for the quarter was down 32.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $8.26 earnings per share. Equities research analysts expect that Deere & Company will post 21.41 EPS for the current year.

Institutional Trading of Deere & Company

Several institutional investors and hedge funds have recently bought and sold shares of DE. Pineridge Advisors LLC raised its holdings in shares of Deere & Company by 725.0% during the first quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 58 shares during the period. Fairscale Capital LLC acquired a new stake in Deere & Company during the 2nd quarter valued at $26,000. Livelsberger Financial Advisory purchased a new stake in shares of Deere & Company in the third quarter valued at $32,000. Olistico Wealth LLC acquired a new stake in shares of Deere & Company in the second quarter worth $37,000. Finally, Centennial Bank AR grew its holdings in shares of Deere & Company by 420.0% during the second quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock valued at $39,000 after buying an additional 84 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

About Deere & Company

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.