Deere & Company (NYSE:DE) Price Target Raised to $640.00

Deere & Company (NYSE:DEGet Free Report) had its price target hoisted by Barclays from $530.00 to $640.00 in a report issued on Tuesday,MarketScreener reports. The brokerage currently has an “overweight” rating on the industrial products company’s stock. Barclays‘s price target would suggest a potential upside of 13.25% from the stock’s current price.

A number of other research analysts have also weighed in on the stock. Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of Deere & Company in a research note on Monday, December 1st. Morgan Stanley increased their target price on Deere & Company from $560.00 to $730.00 and gave the stock an “overweight” rating in a research report on Monday, February 23rd. JPMorgan Chase & Co. reduced their price target on Deere & Company from $480.00 to $460.00 and set a “neutral” rating for the company in a research report on Friday, December 19th. Wells Fargo & Company boosted their price objective on Deere & Company from $543.00 to $750.00 and gave the company an “overweight” rating in a research note on Friday, February 20th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Deere & Company in a report on Monday, December 29th. Sixteen investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Deere & Company has an average rating of “Moderate Buy” and a consensus price target of $655.70.

Read Our Latest Research Report on Deere & Company

Deere & Company Stock Performance

NYSE DE traded up $1.84 during trading on Tuesday, hitting $565.14. 259,573 shares of the company’s stock traded hands, compared to its average volume of 1,598,216. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.96 and a current ratio of 2.21. The stock has a market capitalization of $152.65 billion, a price-to-earnings ratio of 31.85, a PEG ratio of 1.94 and a beta of 0.96. Deere & Company has a 12-month low of $404.42 and a 12-month high of $674.19. The business has a 50 day moving average of $581.59 and a 200-day moving average of $511.06.

Deere & Company (NYSE:DEGet Free Report) last posted its earnings results on Thursday, February 19th. The industrial products company reported $2.42 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.52. The firm had revenue of $9.61 billion during the quarter, compared to the consensus estimate of $7.50 billion. Deere & Company had a net margin of 10.29% and a return on equity of 18.93%. The company’s revenue was up 17.5% on a year-over-year basis. During the same quarter last year, the company earned $3.19 earnings per share. As a group, equities research analysts anticipate that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Insider Buying and Selling at Deere & Company

In related news, CEO John C. May II sold 41,472 shares of the stock in a transaction on Thursday, January 8th. The stock was sold at an average price of $501.49, for a total value of $20,797,793.28. Following the sale, the chief executive officer owned 117,970 shares in the company, valued at approximately $59,160,775.30. This trade represents a 26.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Cory J. Reed sold 12,000 shares of the stock in a transaction on Wednesday, January 14th. The stock was sold at an average price of $510.00, for a total value of $6,120,000.00. Following the completion of the sale, the insider owned 20,792 shares in the company, valued at $10,603,920. This trade represents a 36.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.29% of the company’s stock.

Institutional Trading of Deere & Company

Large investors have recently modified their holdings of the business. The Manufacturers Life Insurance Company lifted its holdings in shares of Deere & Company by 30.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 364,103 shares of the industrial products company’s stock worth $185,143,000 after acquiring an additional 85,351 shares during the last quarter. Csenge Advisory Group grew its holdings in shares of Deere & Company by 84.9% during the 3rd quarter. Csenge Advisory Group now owns 7,440 shares of the industrial products company’s stock valued at $3,402,000 after purchasing an additional 3,416 shares during the last quarter. MASTERINVEST Kapitalanlage GmbH purchased a new position in Deere & Company in the 2nd quarter worth $3,615,000. WINTON GROUP Ltd bought a new stake in Deere & Company in the second quarter worth $4,550,000. Finally, Compagnie Lombard Odier SCmA boosted its position in Deere & Company by 66.1% during the third quarter. Compagnie Lombard Odier SCmA now owns 27,568 shares of the industrial products company’s stock valued at $12,606,000 after buying an additional 10,974 shares during the period. Institutional investors own 68.58% of the company’s stock.

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Deere & Company Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Deere & Company (NYSE:DE)

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