Deere & Company (NYSE:DE) Price Target Raised to $812.00

Deere & Company (NYSE:DE) had its price target increased by Truist Financial from $759.00 to $812.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the industrial products company’s stock. Truist Financial’s price target would suggest a potential upside of 29.13% from the company’s previous close.

DE has been the topic of several other research reports. JPMorgan Chase & Co. lifted their price target on shares of Deere & Company from $560.00 to $590.00 and gave the stock a “neutral” rating in a research note on Thursday, June 4th. Bank of America decreased their price objective on shares of Deere & Company from $672.00 to $607.50 and set a “neutral” rating for the company in a research report on Friday, May 22nd. Barclays boosted their target price on shares of Deere & Company from $530.00 to $640.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 31st. Citigroup cut their price target on Deere & Company from $625.00 to $595.00 and set a “neutral” rating on the stock in a research note on Friday, May 22nd. Finally, Jefferies Financial Group raised Deere & Company from an “underperform” rating to a “hold” rating and set a $550.00 price target for the company in a report on Wednesday, April 8th. Fourteen research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $642.23.

Deere & Company Trading Down 0.9%

DE opened at $628.84 on Thursday. The business has a fifty day moving average price of $576.92 and a 200 day moving average price of $561.32. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.18 and a quick ratio of 1.95. Deere & Company has a 12 month low of $433.00 and a 12 month high of $674.19. The stock has a market capitalization of $169.75 billion, a price-to-earnings ratio of 35.63, a PEG ratio of 2.35 and a beta of 0.89.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, May 21st. The industrial products company reported $6.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.70 by $0.85. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The business had revenue of $13.37 billion during the quarter, compared to analysts’ expectations of $11.55 billion. During the same quarter last year, the business posted $6.64 EPS. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. Sell-side analysts expect that Deere & Company will post 18.13 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Deere & Company

Several large investors have recently modified their holdings of DE. Cary Street Partners Financial LLC boosted its holdings in Deere & Company by 11.8% during the fourth quarter. Cary Street Partners Financial LLC now owns 10,312 shares of the industrial products company’s stock worth $4,801,000 after buying an additional 1,086 shares in the last quarter. Spectrum Financial Alliance Ltd LLC increased its holdings in Deere & Company by 55.8% in the fourth quarter. Spectrum Financial Alliance Ltd LLC now owns 85,351 shares of the industrial products company’s stock valued at $39,737,000 after buying an additional 30,553 shares in the last quarter. Westpac Banking Corp increased its holdings in Deere & Company by 78.6% in the fourth quarter. Westpac Banking Corp now owns 6,925 shares of the industrial products company’s stock valued at $3,224,000 after buying an additional 3,047 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Deere & Company by 7.6% during the 3rd quarter. Legal & General Group Plc now owns 1,651,982 shares of the industrial products company’s stock valued at $755,385,000 after acquiring an additional 115,975 shares during the period. Finally, Eldred Rock Partners LLC acquired a new stake in shares of Deere & Company during the 4th quarter valued at approximately $13,166,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

About Deere & Company

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.