Deere & Company (NYSE:DE) PT Set at $560.00 by Oppenheimer

Deere & Company (NYSE:DE) has been assigned a $560.00 target price by investment analysts at Oppenheimer in a report issued on Tuesday, Marketbeat Ratings reports. The brokerage presently has an “outperform” rating on the industrial products company’s stock. Oppenheimer’s price objective would suggest a potential upside of 10.21% from the company’s current price.

DE has been the subject of several other reports. Raymond James Financial increased their target price on Deere & Company from $530.00 to $560.00 and gave the company an “outperform” rating in a report on Friday, May 16th. UBS Group dropped their price objective on Deere & Company from $462.00 to $440.00 and set a “neutral” rating for the company in a research note on Monday, April 7th. Truist Financial lifted their target price on shares of Deere & Company from $546.00 to $619.00 and gave the stock a “buy” rating in a research note on Friday, May 16th. Wall Street Zen cut shares of Deere & Company from a “hold” rating to a “sell” rating in a research report on Friday, May 30th. Finally, Melius raised shares of Deere & Company from a “hold” rating to a “buy” rating in a report on Friday, June 6th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $515.50.

Deere & Company Price Performance

Shares of Deere & Company stock opened at $508.13 on Tuesday. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.89 and a current ratio of 2.11. Deere & Company has a 52-week low of $340.20 and a 52-week high of $533.78. The company has a fifty day moving average of $512.51 and a 200-day moving average of $479.60. The stock has a market capitalization of $137.62 billion, a price-to-earnings ratio of 24.58, a price-to-earnings-growth ratio of 3.19 and a beta of 1.08.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share for the quarter, topping the consensus estimate of $5.72 by $0.92. Deere & Company had a net margin of 12.40% and a return on equity of 24.39%. The business had revenue of $11.17 billion during the quarter, compared to the consensus estimate of $10.80 billion. During the same period in the previous year, the firm posted $8.53 earnings per share. The firm’s revenue for the quarter was down 17.9% on a year-over-year basis. Equities research analysts expect that Deere & Company will post 19.32 EPS for the current year.

Hedge Funds Weigh In On Deere & Company

A number of institutional investors have recently added to or reduced their stakes in DE. Southland Equity Partners LLC increased its stake in shares of Deere & Company by 3.9% in the 2nd quarter. Southland Equity Partners LLC now owns 534 shares of the industrial products company’s stock worth $271,000 after acquiring an additional 20 shares in the last quarter. Chicago Partners Investment Group LLC increased its stake in shares of Deere & Company by 1.2% during the first quarter. Chicago Partners Investment Group LLC now owns 1,803 shares of the industrial products company’s stock valued at $852,000 after purchasing an additional 21 shares in the last quarter. Tyler Stone Wealth Management increased its stake in shares of Deere & Company by 1.7% during the first quarter. Tyler Stone Wealth Management now owns 1,230 shares of the industrial products company’s stock valued at $577,000 after purchasing an additional 21 shares in the last quarter. McLean Asset Management Corp lifted its holdings in shares of Deere & Company by 4.0% during the second quarter. McLean Asset Management Corp now owns 544 shares of the industrial products company’s stock valued at $283,000 after purchasing an additional 21 shares during the last quarter. Finally, Sunbelt Securities Inc. boosted its position in shares of Deere & Company by 2.4% in the 1st quarter. Sunbelt Securities Inc. now owns 925 shares of the industrial products company’s stock worth $434,000 after purchasing an additional 22 shares in the last quarter. Institutional investors own 68.58% of the company’s stock.

About Deere & Company

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.