Deere & Company (NYSE:DE) Receives Average Recommendation of “Moderate Buy” from Analysts

Deere & Company (NYSE:DE – Get Rating) has earned a consensus recommendation of “Moderate Buy” from the twenty-two research firms that are presently covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $443.86.

A number of equities analysts have issued reports on DE shares. Stifel Nicolaus decreased their price target on Deere & Company from $500.00 to $493.00 in a research note on Monday. Argus raised their price objective on Deere & Company from $475.00 to $485.00 and gave the stock a “buy” rating in a research note on Tuesday, February 21st. Evercore ISI reduced their price objective on Deere & Company from $455.00 to $418.00 in a research note on Tuesday, May 9th. Bank of America reduced their price objective on Deere & Company from $484.00 to $416.00 in a research note on Sunday. Finally, Robert W. Baird reduced their price objective on Deere & Company from $512.00 to $445.00 in a research note on Monday.

Deere & Company Stock Performance

Shares of NYSE DE opened at $354.08 on Thursday. The company has a current ratio of 1.96, a quick ratio of 1.70 and a debt-to-equity ratio of 1.59. The stock has a 50 day simple moving average of $382.91 and a 200-day simple moving average of $409.04. The company has a market cap of $104.92 billion, a PE ratio of 11.88, a P/E/G ratio of 0.95 and a beta of 1.03. Deere & Company has a 12-month low of $283.81 and a 12-month high of $448.40.

Deere & Company (NYSE:DE – Get Rating) last issued its quarterly earnings data on Friday, May 19th. The industrial products company reported $9.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.57 by $1.08. The business had revenue of $16.08 billion during the quarter, compared to the consensus estimate of $14.87 billion. Deere & Company had a return on equity of 43.11% and a net margin of 15.00%. The business’s revenue was up 33.6% on a year-over-year basis. During the same period in the previous year, the firm posted $6.81 earnings per share. On average, equities research analysts forecast that Deere & Company will post 31.01 EPS for the current year.

Institutional Investors Weigh In On Deere & Company

Hedge funds and other institutional investors have recently made changes to their positions in the business. Paragon Wealth Strategies LLC acquired a new stake in shares of Deere & Company in the fourth quarter valued at about $26,000. University of Texas Texas AM Investment Managment Co. grew its position in shares of Deere & Company by 1,475.0% in the first quarter. University of Texas Texas AM Investment Managment Co. now owns 63 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 59 shares during the last quarter. Worth Asset Management LLC acquired a new stake in shares of Deere & Company in the first quarter valued at about $28,000. Riggs Asset Managment Co. Inc. grew its position in shares of Deere & Company by 411.8% in the third quarter. Riggs Asset Managment Co. Inc. now owns 87 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 70 shares during the last quarter. Finally, Lansing Street Advisors grew its position in shares of Deere & Company by 1,725.0% in the first quarter. Lansing Street Advisors now owns 73 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 69 shares during the last quarter. 75.72% of the stock is owned by institutional investors and hedge funds.

Deere & Company Company Profile

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Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.