Deere & Company (NYSE:DE) Price Target Raised to $500.00

Deere & Company (NYSE:DE) had its price target hoisted by analysts at JPMorgan Chase & Co. from $470.00 to $500.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the industrial products company’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 7.38% from the stock’s current price.

A number of other equities research analysts have also issued reports on DE. Oppenheimer lifted their target price on shares of Deere & Company from $477.00 to $507.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. Truist Financial boosted their target price on Deere & Company from $538.00 to $550.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. UBS Group raised their price target on Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Jefferies Financial Group cut Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price target for the company. in a research note on Friday, December 6th. Finally, Citigroup cut their price objective on shares of Deere & Company from $470.00 to $430.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th. Eleven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $446.17.

Deere & Company Stock Up 0.1 %

NYSE:DE opened at $465.63 on Monday. The business’s fifty day moving average price is $445.00 and its 200 day moving average price is $413.15. The firm has a market capitalization of $126.82 billion, a price-to-earnings ratio of 18.19, a PEG ratio of 2.87 and a beta of 0.98. The company has a current ratio of 2.09, a quick ratio of 1.90 and a debt-to-equity ratio of 1.89. Deere & Company has a 1-year low of $340.20 and a 1-year high of $485.84.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, beating analysts’ consensus estimates of $3.89 by $0.66. The company had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.20 billion. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The firm’s quarterly revenue was down 32.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $8.26 EPS. On average, sell-side analysts forecast that Deere & Company will post 19.38 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Deere & Company

Institutional investors and hedge funds have recently bought and sold shares of the stock. Wellington Management Group LLP grew its position in Deere & Company by 32.0% in the 3rd quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company’s stock worth $3,068,404,000 after purchasing an additional 1,782,984 shares during the last quarter. Geode Capital Management LLC lifted its stake in Deere & Company by 0.6% during the third quarter. Geode Capital Management LLC now owns 5,208,368 shares of the industrial products company’s stock worth $2,168,737,000 after purchasing an additional 31,459 shares during the period. FMR LLC lifted its stake in Deere & Company by 27.8% during the third quarter. FMR LLC now owns 4,542,013 shares of the industrial products company’s stock worth $1,895,518,000 after purchasing an additional 988,380 shares during the period. Fisher Asset Management LLC boosted its holdings in Deere & Company by 8.1% during the fourth quarter. Fisher Asset Management LLC now owns 2,155,613 shares of the industrial products company’s stock valued at $913,334,000 after purchasing an additional 160,956 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Deere & Company by 5.5% in the 4th quarter. Bank of New York Mellon Corp now owns 2,063,898 shares of the industrial products company’s stock valued at $874,473,000 after purchasing an additional 107,544 shares during the period. 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.