Deere & Company (NYSE:DE – Get Free Report)‘s stock had its “buy” rating restated by investment analysts at Truist Financial in a research report issued to clients and investors on Friday, Benzinga reports. They presently have a $443.00 price objective on the industrial products company’s stock, up from their prior price objective of $439.00. Truist Financial’s price target suggests a potential upside of 17.22% from the company’s previous close.
A number of other brokerages have also recently commented on DE. DA Davidson reduced 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 report on Monday, May 20th. Citigroup lowered their price target on shares of Deere & Company from $395.00 to $370.00 and set a “neutral” rating for the company in a research note on Tuesday, August 13th. Daiwa Capital Markets raised their price objective on Deere & Company from $400.00 to $420.00 and gave the company an “overweight” rating in a research note on Wednesday, May 15th. Raymond James assumed coverage on Deere & Company in a research note on Friday, June 28th. They issued an “outperform” rating and a $420.00 target price for the company. Finally, TD Cowen raised their price target on Deere & Company from $383.00 to $390.00 and gave the stock a “hold” rating in a research report on Friday, May 17th. Thirteen investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, Deere & Company currently has a consensus rating of “Hold” and an average target price of $422.35.
Read Our Latest Research Report on DE
Deere & Company Stock Performance
NYSE DE opened at $377.92 on Friday. Deere & Company has a 52-week low of $340.20 and a 52-week high of $425.42. The company has a fifty day moving average of $367.47 and a 200-day moving average of $380.45. The company has a market capitalization of $104.14 billion, a P/E ratio of 11.38, a P/E/G ratio of 1.59 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 (NYSE:DE – Get Free Report) last issued its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.80 by $0.49. The firm had revenue of $11.39 billion during the quarter, compared to analyst estimates of $10.94 billion. Deere & Company had a return on equity of 42.26% and a net margin of 16.15%. The company’s revenue was down 20.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $10.20 earnings per share. As a group, equities research analysts predict that Deere & Company will post 25.41 EPS for the current fiscal year.
Insiders Place Their Bets
In related news, insider Cory J. Reed sold 13,370 shares of the stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $377.63, for a total transaction of $5,048,913.10. Following the sale, the insider now directly owns 41,642 shares of the company’s stock, valued at approximately $15,725,268.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.26% of the company’s stock.
Institutional Trading of Deere & Company
Several institutional investors have recently added to or reduced their stakes in DE. True Wealth Design LLC increased its holdings in Deere & Company by 1,180.0% in the 4th quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock worth $26,000 after buying an additional 59 shares in the last quarter. Pineridge Advisors LLC grew its stake in shares of Deere & Company by 725.0% in the first quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 58 shares during the period. Fairscale Capital LLC purchased a new position in shares of Deere & Company during the second quarter valued at approximately $26,000. Rakuten Securities Inc. purchased a new position in shares of Deere & Company during the fourth quarter valued at approximately $28,000. Finally, Naples Money Management LLC bought a new position in Deere & Company during the fourth quarter valued at approximately $29,000. 68.58% of the stock is currently 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.
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Source: defenseworld.net
