Truist Financial Lowers Deere & Company (NYSE:DE) Price Target to $602.00

Deere & Company (NYSE:DE) had its price objective dropped by investment analysts at Truist Financial from $619.00 to $602.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the industrial products company’s stock. Truist Financial’s price target suggests a potential upside of 23.19% from the stock’s current price.

A number of other analysts have also recently commented on the company. DA Davidson reissued a “buy” rating and issued a $542.00 price target on shares of Deere & Company in a research report on Friday, May 16th. Bank of America boosted their price target on Deere & Company from $495.00 to $556.00 and gave the stock a “neutral” rating in a research report on Friday, May 16th. BMO Capital Markets reissued a “market perform” rating and issued a $460.00 price target (up from $425.00) on shares of Deere & Company in a research report on Wednesday, May 21st. Robert W. Baird boosted their price target on Deere & Company from $501.00 to $514.00 and gave the stock a “neutral” rating in a research report on Friday, May 16th. Finally, Wall Street Zen cut Deere & Company from a “hold” rating to a “sell” rating in a research report on Friday, May 30th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $521.47.

Deere & Company Stock Up 2.1%

DE stock opened at $488.68 on Friday. Deere & Company has a fifty-two week low of $371.16 and a fifty-two week high of $533.78. The business’s 50 day moving average price is $511.18 and its two-hundred day moving average price is $489.97. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.89 and a current ratio of 2.19. The company has a market capitalization of $132.35 billion, a price-to-earnings ratio of 25.55, a price-to-earnings-growth ratio of 3.10 and a beta of 1.06.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share for the quarter, topping analysts’ consensus estimates of $4.62 by $0.13. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%. The firm had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.33 billion. During the same quarter in the prior year, the business earned $6.29 EPS. The business’s revenue for the quarter was down 9.0% on a year-over-year basis. As a group, analysts forecast that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Deere & Company

Several hedge funds and other institutional investors have recently modified their holdings of DE. Vanguard Group Inc. increased its stake in shares of Deere & Company by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 22,372,671 shares of the industrial products company’s stock worth $11,376,279,000 after purchasing an additional 309,081 shares in the last quarter. State Street Corp increased its stake in shares of Deere & Company by 0.6% in the 2nd quarter. State Street Corp now owns 10,386,268 shares of the industrial products company’s stock worth $5,297,913,000 after purchasing an additional 64,262 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Deere & Company by 4.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,876,013 shares of the industrial products company’s stock worth $3,227,258,000 after purchasing an additional 286,253 shares in the last quarter. Capital World Investors increased its stake in shares of Deere & Company by 2.7% in the 4th quarter. Capital World Investors now owns 6,058,259 shares of the industrial products company’s stock worth $2,566,884,000 after purchasing an additional 157,224 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Deere & Company by 2.1% in the 2nd quarter. Geode Capital Management LLC now owns 5,541,778 shares of the industrial products company’s stock worth $2,810,807,000 after purchasing an additional 111,627 shares in the last quarter. 68.58% of the stock is owned by institutional investors.

Deere & Company Company Profile

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.