Deere & Company (NYSE:DE) Price Target Cut to $419.00

Deere & Company (NYSE:DEGet Rating) had its price objective cut by equities researchers at Oppenheimer from $446.00 to $419.00 in a research note issued on Monday, The Fly reports. Oppenheimer’s target price points to a potential upside of 33.73% from the company’s current price.

DE has been the subject of a number of other research reports. Bank of America cut Deere & Company from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $475.00 to $450.00 in a research report on Monday, April 25th. Wells Fargo & Company reduced their price target on Deere & Company from $455.00 to $410.00 in a research report on Monday. Deutsche Bank Aktiengesellschaft upped their price target on Deere & Company from $400.00 to $417.00 and gave the stock a “hold” rating in a research report on Tuesday, February 22nd. BMO Capital Markets restated a “hold” rating and issued a $425.00 price target on shares of Deere & Company in a research report on Friday. Finally, JPMorgan Chase & Co. upgraded Deere & Company from an “underweight” rating to a “neutral” rating and increased their target price for the stock from $355.00 to $440.00 in a research report on Monday, March 28th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Deere & Company currently has a consensus rating of “Buy” and an average price target of $435.13.

Deere & Company stock opened at $313.31 on Monday. The stock has a market cap of $96.12 billion, a PE ratio of 17.37, a price-to-earnings-growth ratio of 1.19 and a beta of 1.02. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.94 and a current ratio of 2.25. Deere & Company has a one year low of $307.64 and a one year high of $446.76. The stock has a fifty day moving average of $401.49 and a 200 day moving average of $377.52.

Deere & Company (NYSE:DEGet Rating) last posted its quarterly earnings data on Friday, May 20th. The industrial products company reported $6.81 EPS for the quarter, beating analysts’ consensus estimates of $6.71 by $0.10. The company had revenue of $12.03 billion during the quarter, compared to analysts’ expectations of $13.16 billion. Deere & Company had a return on equity of 33.65% and a net margin of 12.69%. Deere & Company’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $5.68 earnings per share. As a group, sell-side analysts predict that Deere & Company will post 22.69 EPS for the current fiscal year.

In other news, insider Rajesh Kalathur sold 32,391 shares of the business’s stock in a transaction dated Monday, March 7th. The stock was sold at an average price of $400.00, for a total value of $12,956,400.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Pentz Markwart Von sold 18,364 shares of the business’s stock in a transaction dated Monday, March 14th. The shares were sold at an average price of $393.00, for a total value of $7,217,052.00. The disclosure for this sale can be found here. Company insiders own 0.24% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. Norges Bank acquired a new position in Deere & Company during the fourth quarter worth $959,748,000. Janus Henderson Group PLC lifted its stake in Deere & Company by 60.3% during the third quarter. Janus Henderson Group PLC now owns 3,212,882 shares of the industrial products company’s stock worth $1,076,547,000 after purchasing an additional 1,208,338 shares in the last quarter. Winslow Capital Management LLC acquired a new position in Deere & Company during the first quarter worth $371,078,000. Invesco Ltd. lifted its stake in Deere & Company by 49.8% during the first quarter. Invesco Ltd. now owns 2,478,132 shares of the industrial products company’s stock worth $1,029,564,000 after purchasing an additional 823,367 shares in the last quarter. Finally, BlackRock Inc. lifted its stake in Deere & Company by 4.0% during the first quarter. BlackRock Inc. now owns 18,243,075 shares of the industrial products company’s stock worth $7,579,271,000 after purchasing an additional 706,609 shares in the last quarter. Institutional investors and hedge funds own 67.35% of the company’s stock.

About Deere & Company (Get Rating)

Deere & Company manufactures and distributes 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 mid-size tractors, combines, cotton pickers and strippers, sugarcane harvesters, harvesting front-end equipment, sugarcane loaders, 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.

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