Deere & Company (NYSE:DE) Price Target Raised to $420.00

Deere & Company (NYSE:DE) had its price target upped by equities researchers at Daiwa Capital Markets from $400.00 to $420.00 in a research report issued to clients and investors on Wednesday. The brokerage currently has an “overweight” rating on the industrial products company’s stock. Daiwa Capital Markets’ price target points to a potential upside of 1.44% from the company’s current price.

DE has been the subject of several other research reports. JPMorgan Chase & Co. upped their price target on shares of Deere & Company from $415.00 to $425.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. Citigroup dropped their price target on shares of Deere & Company from $450.00 to $435.00 and set a “buy” rating on the stock in a research report on Friday, February 16th. Wells Fargo & Company reduced their price objective on shares of Deere & Company from $445.00 to $425.00 and set an “overweight” rating for the company in a research report on Friday, February 16th. Evercore ISI boosted their target price on shares of Deere & Company from $381.00 to $387.00 and gave the stock an “in-line” rating in a report on Tuesday, February 20th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of Deere & Company from $425.00 to $401.00 and set a “hold” rating for the company in a report on Friday, February 16th. Ten research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, Deere & Company has an average rating of “Moderate Buy” and an average price target of $433.60.

Deere & Company Price Performance

Shares of DE stock traded up $1.24 during midday trading on Wednesday, reaching $414.02. 1,853,822 shares of the company traded hands, compared to its average volume of 1,447,853. Deere & Company has a 1-year low of $345.55 and a 1-year high of $450.00. The firm has a market cap of $115.25 billion, a PE ratio of 12.06, a price-to-earnings-growth ratio of 1.53 and a beta of 1.04. The firm’s 50 day simple moving average is $397.41 and its two-hundred day simple moving average is $385.60. The company has a debt-to-equity ratio of 1.81, a current ratio of 2.05 and a quick ratio of 1.81.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, February 15th. The industrial products company reported $6.23 earnings per share for the quarter, beating the consensus estimate of $5.19 by $1.04. The firm had revenue of $10.49 billion during the quarter, compared to the consensus estimate of $10.30 billion. Deere & Company had a net margin of 16.38% and a return on equity of 44.60%. The firm’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same period last year, the firm posted $6.55 EPS. On average, equities research analysts expect that Deere & Company will post 27.37 EPS for the current fiscal year.

Institutional Trading of Deere & Company

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Tompkins Financial Corp boosted its holdings in shares of Deere & Company by 2.6% during the 1st quarter. Tompkins Financial Corp now owns 981 shares of the industrial products company’s stock valued at $403,000 after acquiring an additional 25 shares during the last quarter. Essex Savings Bank boosted its holdings in Deere & Company by 0.5% in the fourth quarter. Essex Savings Bank now owns 5,367 shares of the industrial products company’s stock worth $2,146,000 after acquiring an additional 26 shares in the last quarter. Global Retirement Partners LLC grew its stake in shares of Deere & Company by 0.7% during the first quarter. Global Retirement Partners LLC now owns 3,768 shares of the industrial products company’s stock worth $1,548,000 after acquiring an additional 26 shares during the last quarter. Valley National Advisers Inc. raised its position in shares of Deere & Company by 1.5% in the 4th quarter. Valley National Advisers Inc. now owns 1,879 shares of the industrial products company’s stock valued at $751,000 after purchasing an additional 27 shares during the last quarter. Finally, Bleakley Financial Group LLC boosted its stake in Deere & Company by 0.5% in the 4th quarter. Bleakley Financial Group LLC now owns 5,158 shares of the industrial products company’s stock worth $2,063,000 after purchasing an additional 27 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Company Profile

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.