Citigroup Initiates Coverage on Deere & Company (NYSE:DE)

Equities researchers at Citigroup began coverage on shares of Deere & Company (NYSE:DEGet Free Report) in a research note issued to investors on Wednesday, reports. The brokerage set a “neutral” rating and a $395.00 price target on the industrial products company’s stock. Citigroup’s price target would indicate a potential upside of 4.86% from the company’s previous close.

Several other analysts have also recently commented on the company. Morgan Stanley lifted their price target on Deere & Company from $430.00 to $450.00 in a report on Wednesday, May 15th. Daiwa Capital Markets lifted their price target on shares of Deere & Company from $400.00 to $420.00 and gave the company an “overweight” rating in a report on Wednesday, May 15th. DA Davidson dropped their price objective on Deere & Company from $483.00 to $465.00 and set a “buy” rating for the company in a report on Monday, May 20th. TD Cowen increased their target price on Deere & Company from $383.00 to $390.00 and gave the stock a “hold” rating in a research report on Friday, May 17th. Finally, JPMorgan Chase & Co. dropped their price target on Deere & Company from $425.00 to $385.00 and set a “neutral” rating for the company in a research note on Friday, May 17th. Eleven analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $431.14.

View Our Latest Research Report on Deere & Company

Deere & Company Stock Up 0.1 %

Shares of NYSE DE opened at $376.70 on Wednesday. Deere & Company has a 52 week low of $353.15 and a 52 week high of $450.00. The company has a quick ratio of 1.80, a current ratio of 2.01 and a debt-to-equity ratio of 1.81. The stock has a market capitalization of $103.81 billion, a price-to-earnings ratio of 11.34, a price-to-earnings-growth ratio of 1.48 and a beta of 0.98. The firm has a 50-day moving average price of $386.34 and a 200 day moving average price of $387.01.

Deere & Company (NYSE:DEGet Free Report) last issued its quarterly earnings data on Thursday, May 16th. The industrial products company reported $8.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.86 by $0.67. The firm had revenue of $13.61 billion during the quarter, compared to analysts’ expectations of $13.29 billion. Deere & Company had a return on equity of 42.26% and a net margin of 16.15%. Deere & Company’s revenue was down 15.4% on a year-over-year basis. During the same period in the previous year, the firm posted $9.65 earnings per share. Equities research analysts anticipate that Deere & Company will post 25.61 EPS for the current fiscal year.

Insider Buying and Selling at Deere & Company

In related news, insider Cory J. Reed sold 13,370 shares of the business’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $377.63, for a total value of $5,048,913.10. Following the completion of the sale, the insider now directly owns 41,642 shares of the company’s stock, valued at $15,725,268.46. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.26% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Deere & Company

Several institutional investors and hedge funds have recently bought and sold shares of the business. True Wealth Design LLC increased its stake in shares of 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 valued at $26,000 after purchasing an additional 59 shares during the period. Pineridge Advisors LLC raised its stake in Deere & Company by 725.0% during the 1st 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 in the last quarter. ZRC Wealth Management LLC acquired a new position in Deere & Company during the 4th quarter worth $28,000. Rakuten Securities Inc. bought a new position in shares of Deere & Company in the fourth quarter worth $28,000. Finally, Naples Money Management LLC acquired a new position in shares of Deere & Company during the fourth quarter valued at $29,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

About Deere & Company

(Get Free Report)

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.

See Also

Analyst Recommendations for Deere & Company (NYSE:DE)

Receive News & Ratings for Deere & Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Deere & Company and related companies with's FREE daily email newsletter.