UBS Group Issues Pessimistic Forecast for Deere & Company (NYSE:DE) Stock Price

Deere & Company (NYSE:DE) had its price target cut by stock analysts at UBS Group from $462.00 to $440.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a “neutral” rating on the industrial products company’s stock. UBS Group’s target price suggests a potential upside of 4.12% from the stock’s previous close.

Several other equities analysts have also recently commented on the company. Baird R W cut Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 3rd. Truist Financial reiterated a “buy” rating and issued a $546.00 price objective (down previously from $550.00) on shares of Deere & Company in a research report on Friday, February 14th. StockNews.com cut shares of Deere & Company from a “hold” rating to a “sell” rating in a report on Sunday. Argus set a $510.00 price target on shares of Deere & Company in a report on Friday, March 7th. Finally, Evercore ISI raised their price target on shares of Deere & Company from $437.00 to $455.00 and gave the stock an “in-line” rating in a report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Deere & Company currently has an average rating of “Hold” and an average target price of $458.84.

Deere & Company Stock Down 1.7 %

Deere & Company stock traded down $7.28 during trading on Monday, hitting $422.58. 1,806,308 shares of the company were exchanged, compared to its average volume of 1,419,733. Deere & Company has a 52 week low of $340.20 and a 52 week high of $515.05. The company has a current ratio of 2.22, a quick ratio of 1.98 and a debt-to-equity ratio of 1.94. The company has a market capitalization of $114.69 billion, a P/E ratio of 18.73, a PEG ratio of 2.14 and a beta of 1.00. The business’s 50 day moving average is $476.55 and its 200 day moving average is $442.38.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.14 by $0.05. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. Analysts predict that Deere & Company will post 19.32 earnings per share for the current year.

Insider Activity

In other Deere & Company news, insider Rajesh Kalathur sold 24,580 shares of Deere & Company stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $500.61, for a total value of $12,304,993.80. Following the completion of the transaction, the insider now directly owns 74,878 shares of the company’s stock, valued at approximately $37,484,675.58. The trade was a 24.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.29% of the company’s stock.

Institutional Investors Weigh In On Deere & Company

A number of institutional investors have recently made changes to their positions in the company. AdvisorNet Financial Inc raised its holdings in Deere & Company by 11.3% in the 1st quarter. AdvisorNet Financial Inc now owns 1,535 shares of the industrial products company’s stock worth $721,000 after acquiring an additional 156 shares during the last quarter. Fire Capital Management LLC purchased a new position in shares of Deere & Company in the fourth quarter worth $2,368,000. Mascagni Wealth Management Inc. bought a new position in shares of Deere & Company during the fourth quarter valued at $39,000. Chancellor Financial Group WB LP purchased a new stake in shares of Deere & Company during the fourth quarter valued at $857,000. Finally, NorthCrest Asset Manangement LLC increased its holdings in Deere & Company by 0.6% in the 4th quarter. NorthCrest Asset Manangement LLC now owns 50,570 shares of the industrial products company’s stock worth $21,427,000 after buying an additional 318 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Company Profile

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.