Deere & Company (NYSE:DE) Given New $550.00 Price Target at Truist Financial

Deere & Company (NYSE:DE) had its price objective hoisted by analysts at Truist Financial from $538.00 to $550.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the industrial products company’s stock. Truist Financial’s target price points to a potential upside of 28.46% from the stock’s current price.

A number of other analysts have also weighed in on the stock. UBS Group upped their price objective on shares of Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Citigroup upped their price target on shares of Deere & Company from $460.00 to $470.00 and gave the stock a “neutral” rating in a research report on Monday, December 9th. Barclays lifted their price objective on shares of Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. JPMorgan Chase & Co. upped their target price on Deere & Company from $420.00 to $450.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Finally, Oppenheimer lifted their price target on Deere & Company from $448.00 to $477.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. Thirteen equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $443.94.

Deere & Company Trading Up 0.5 %

DE stock traded up $2.16 during mid-day trading on Thursday, reaching $428.16. The company had a trading volume of 156,498 shares, compared to its average volume of 1,431,504. The company has a market capitalization of $116.28 billion, a PE ratio of 16.73, a price-to-earnings-growth ratio of 1.91 and a beta of 0.96. The firm has a 50 day moving average of $422.54 and a 200 day moving average of $394.07. Deere & Company has a 12 month low of $340.20 and a 12 month high of $469.39. The company has a debt-to-equity ratio of 1.89, a current ratio of 2.09 and a quick ratio of 1.90.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.89 by $0.66. The company had revenue of $9.28 billion for the quarter, compared to analysts’ expectations of $9.20 billion. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. Deere & Company’s revenue was down 32.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $8.26 earnings per share. On average, equities analysts predict that Deere & Company will post 19.52 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Deere & Company

A number of large investors have recently bought and sold shares of the company. Mattern Wealth Management LLC boosted its holdings in Deere & Company by 1.3% in the third quarter. Mattern Wealth Management LLC now owns 1,884 shares of the industrial products company’s stock valued at $786,000 after purchasing an additional 25 shares during the last quarter. Carret Asset Management LLC raised its position in Deere & Company by 0.3% during the third quarter. Carret Asset Management LLC now owns 8,148 shares of the industrial products company’s stock valued at $3,401,000 after acquiring an additional 25 shares in the last quarter. Round Rock Advisors LLC lifted its holdings in Deere & Company by 2.0% in the third quarter. Round Rock Advisors LLC now owns 1,252 shares of the industrial products company’s stock valued at $522,000 after acquiring an additional 25 shares during the period. Centaurus Financial Inc. boosted its position in Deere & Company by 2.3% in the 2nd quarter. Centaurus Financial Inc. now owns 1,160 shares of the industrial products company’s stock worth $433,000 after purchasing an additional 26 shares in the last quarter. Finally, Cornell Pochily Investment Advisors Inc. grew its stake in shares of Deere & Company by 0.7% during the 3rd quarter. Cornell Pochily Investment Advisors Inc. now owns 3,495 shares of the industrial products company’s stock worth $1,459,000 after purchasing an additional 26 shares during the period. Hedge funds and other institutional investors 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.