Deere & Company (NYSE:DE) Price Target Cut to $195.00

Deere & Company (NYSE:DE) had its price objective decreased by equities research analysts at Citigroup from $200.00 to $195.00 in a research report issued to clients and investors on Monday, BenzingaRatingsTable reports. The firm currently has a “buy” rating on the industrial products company’s stock. Citigroup‘s price objective would indicate a potential upside of 19.27% from the stock’s current price.

Several other brokerages have also commented on DE. Morgan Stanley increased their price target on shares of Deere & Company from $180.00 to $197.00 and gave the stock an “overweight” rating in a research note on Friday, November 29th. Deutsche Bank restated a “hold” rating and set a $169.00 price target (up previously from $155.00) on shares of Deere & Company in a report on Wednesday, November 20th. DZ Bank lowered shares of Deere & Company from a “hold” rating to a “sell” rating and set a $148.00 price objective for the company. in a research note on Friday, November 29th. Wells Fargo & Co reiterated a “market perform” rating and issued a $177.00 price objective (up from $170.00) on shares of Deere & Company in a report on Friday, November 29th. Finally, Bank of America cut shares of Deere & Company from a “neutral” rating to an “underperform” rating and decreased their price objective for the stock from $200.00 to $150.00 in a report on Monday. Four analysts have rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $172.37.

Shares of NYSE DE opened at $163.50 on Monday. The stock has a market cap of $52.91 billion, a price-to-earnings ratio of 16.45, a PEG ratio of 2.27 and a beta of 1.13. The business has a 50 day simple moving average of $173.76 and a 200 day simple moving average of $161.41. Deere & Company has a 52 week low of $132.68 and a 52 week high of $180.48. The company has a debt-to-equity ratio of 2.65, a quick ratio of 1.80 and a current ratio of 2.04.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Wednesday, November 27th. The industrial products company reported $2.14 earnings per share for the quarter, beating the consensus estimate of $2.13 by $0.01. The firm had revenue of $8.70 billion for the quarter, compared to analyst estimates of $8.41 billion. Deere & Company had a net margin of 8.29% and a return on equity of 27.11%. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter last year, the firm earned $2.30 earnings per share. On average, analysts predict that Deere & Company will post 11.09 EPS for the current year.

In other news, Chairman Samuel R. Allen sold 114,253 shares of the firm’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $178.30, for a total value of $20,371,309.90. Following the sale, the chairman now directly owns 423,497 shares of the company’s stock, valued at $75,509,515.10. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider James M. Field sold 12,637 shares of Deere & Company stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $180.00, for a total value of $2,274,660.00. Following the completion of the transaction, the insider now owns 113,858 shares in the company, valued at $20,494,440. The disclosure for this sale can be found here. 0.71% of the stock is currently owned by corporate insiders.

A number of large investors have recently made changes to their positions in DE. DRW Securities LLC bought a new stake in shares of Deere & Company in the second quarter valued at approximately $227,000. Clarius Group LLC increased its position in Deere & Company by 6.3% during the second quarter. Clarius Group LLC now owns 1,984 shares of the industrial products company’s stock worth $329,000 after acquiring an additional 117 shares during the period. Buckingham Asset Management LLC increased its position in Deere & Company by 6.4% during the second quarter. Buckingham Asset Management LLC now owns 3,766 shares of the industrial products company’s stock worth $624,000 after acquiring an additional 226 shares during the period. Cetera Advisor Networks LLC increased its position in Deere & Company by 15.4% during the second quarter. Cetera Advisor Networks LLC now owns 14,377 shares of the industrial products company’s stock worth $2,388,000 after acquiring an additional 1,917 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its stake in Deere & Company by 0.4% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 649,925 shares of the industrial products company’s stock valued at $107,699,000 after purchasing an additional 2,598 shares during the last quarter. Hedge funds and other institutional investors own 66.65% of the company’s stock.

Deere & Company Company Profile

Deere & Company manufactures and distributes various equipment worldwide. The company operates through three segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment offers agriculture and turf equipment, and related parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; and tillage, seeding, and application equipment.

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Analyst Recommendations for Deere & Company (NYSE:DE)

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