Deere & Company’s (DE) “Outperform” Rating Reiterated at Royal Bank Of Canada

Royal Bank Of Canada reiterated their outperform rating on shares of Deere & Company (NYSE:DE) in a research report released on Monday,Benzinga reports. Royal Bank Of Canada currently has a $752.00 price objective on the industrial products company’s stock.

DE has been the topic of several other reports. Citigroup boosted their price objective on Deere & Company from $610.00 to $650.00 and gave the stock a “neutral” rating in a research note on Friday, August 21st. Bank of America lowered their price objective on Deere & Company from $672.00 to $607.50 and set a “neutral” rating for the company in a research note on Friday, May 22nd. Seaport Research Partners set a $570.00 target price on Deere & Company in a report on Friday, August 14th. Weiss Ratings reissued a “hold (c+)” rating on shares of Deere & Company in a research report on Tuesday, August 18th. Finally, UBS Group decreased their price target on Deere & Company from $732.00 to $728.00 and set a “buy” rating on the stock in a report on Friday, August 21st. Fourteen equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $653.48.

Deere & Company Stock Performance

Shares of NYSE:DE opened at $633.36 on Monday. The firm has a fifty day simple moving average of $610.13 and a two-hundred day simple moving average of $592.80. Deere & Company has a 52 week low of $433.00 and a 52 week high of $674.19. The company has a quick ratio of 1.89, a current ratio of 2.10 and a debt-to-equity ratio of 1.45. The stock has a market capitalization of $170.97 billion, a P/E ratio of 35.19, a PEG ratio of 2.60 and a beta of 0.90.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, August 20th. The industrial products company reported $5.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.69 by $0.41. Deere & Company had a net margin of 10.16% and a return on equity of 18.10%. The firm had revenue of $12.61 billion for the quarter, compared to analysts’ expectations of $10.81 billion. During the same period in the prior year, the company earned $4.75 EPS. The business’s revenue was up 6.2% compared to the same quarter last year. On average, analysts expect that Deere & Company will post 18.09 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Deere & Company

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Anchyra Partners LLC lifted its holdings in shares of Deere & Company by 0.5% in the first quarter. Anchyra Partners LLC now owns 3,191 shares of the industrial products company’s stock valued at $1,797,000 after purchasing an additional 17 shares in the last quarter. William B. Walkup & Associates Inc. grew its holdings in shares of Deere & Company by 0.6% during the first quarter. William B. Walkup & Associates Inc. now owns 2,908 shares of the industrial products company’s stock valued at $1,638,000 after buying an additional 17 shares in the last quarter. Advisortrust Partners LLC grew its holdings in shares of Deere & Company by 2.0% during the first quarter. Advisortrust Partners LLC now owns 914 shares of the industrial products company’s stock valued at $515,000 after buying an additional 18 shares in the last quarter. Cerro Pacific Wealth Advisors LLC raised its position in Deere & Company by 0.6% during the fourth quarter. Cerro Pacific Wealth Advisors LLC now owns 3,179 shares of the industrial products company’s stock valued at $1,480,000 after buying an additional 19 shares during the period. Finally, Hazlett Burt & Watson Inc. raised its position in Deere & Company by 2.4% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 816 shares of the industrial products company’s stock valued at $379,000 after buying an additional 19 shares during the period. Institutional investors own 68.58% of the company’s stock.

Deere & Company Company Profile

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.