Analysts at Truist Financial assumed coverage on shares of Deere & Company (NYSE:DE – Get Free Report) in a research report issued on Thursday, Marketbeat.com reports. The firm set a “buy” rating and a $494.00 price target on the industrial products company’s stock. Truist Financial’s price objective would indicate a potential upside of 28.87% from the stock’s previous close.
DE has been the topic of a number of other research reports. Evercore ISI increased their price target on Deere & Company from $381.00 to $387.00 and gave the stock an “in-line” rating in a research report on Tuesday, February 20th. Citigroup lowered their target price on Deere & Company from $450.00 to $435.00 and set a “buy” rating for the company in a research report on Friday, February 16th. Canaccord Genuity Group lowered their target price on Deere & Company from $400.00 to $375.00 and set a “hold” rating for the company in a research report on Monday, November 27th. Stifel Nicolaus decreased their price target on Deere & Company from $435.00 to $425.00 and set a “buy” rating for the company in a report on Friday, February 16th. Finally, TD Cowen reduced their target price on Deere & Company from $438.00 to $396.00 and set a “market perform” rating for the company in a research note on Friday, November 24th. Ten research 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, Deere & Company currently has an average rating of “Moderate Buy” and an average price target of $431.69.
View Our Latest Stock Analysis on DE
Deere & Company Stock Performance
DE opened at $383.34 on Thursday. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.81 and a current ratio of 2.05. The business’s 50-day simple moving average is $379.21 and its 200 day simple moving average is $382.57. The firm has a market capitalization of $106.71 billion, a PE ratio of 11.16, a PEG ratio of 1.42 and a beta of 1.03. Deere & Company has a 52-week low of $345.55 and a 52-week high of $450.00.
Deere & Company (NYSE:DE – Get Free Report) last released its quarterly earnings data on Thursday, February 15th. The industrial products company reported $6.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.19 by $1.04. Deere & Company had a return on equity of 44.60% and a net margin of 16.38%. The firm had revenue of $10.49 billion for the quarter, compared to analyst estimates of $10.30 billion. During the same quarter in the prior year, the company earned $6.55 earnings per share. The business’s revenue for the quarter was down 8.0% compared to the same quarter last year. As a group, sell-side analysts expect that Deere & Company will post 27.41 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of the business. Briaud Financial Planning Inc purchased a new position in shares of Deere & Company during the 3rd quarter valued at $25,000. Retirement Group LLC lifted its stake in Deere & Company by 264.7% in the second quarter. Retirement Group LLC now owns 62 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 45 shares during the last quarter. True Wealth Design LLC lifted its stake in Deere & Company by 1,180.0% in the fourth quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 59 shares during the last quarter. ZRC Wealth Management LLC bought a new position in shares of Deere & Company during the fourth quarter valued at about $28,000. Finally, Rakuten Securities Inc. bought a new position in shares of Deere & Company during the fourth quarter valued at about $28,000. 66.27% of the stock is currently owned by hedge funds and other institutional investors.
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.
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Source: defenseworld.net
