Deere & Company (NYSE:DE) Given New $531.00 Price Target at Oppenheimer

Deere & Company (NYSE:DE) had its target price raised by Oppenheimer from $512.00 to $531.00 in a report issued on Friday morning, Marketbeat.com reports. The firm currently has an outperform rating on the industrial products company’s stock.

DE has been the topic of several other research reports. Zacks Research downgraded shares of Deere & Company from a “hold” rating to a “strong sell” rating in a research note on Monday, October 20th. Robert W. Baird dropped their target price on shares of Deere & Company from $488.00 to $467.00 and set a “neutral” rating on the stock in a research note on Monday, October 13th. Evercore ISI decreased their price target on shares of Deere & Company from $491.00 to $487.00 in a research note on Monday, November 17th. JPMorgan Chase & Co. lowered their price target on Deere & Company from $495.00 to $480.00 and set a “neutral” rating for the company in a report on Tuesday, October 14th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Deere & Company in a report on Monday. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $519.45.

Deere & Company Price Performance

Shares of DE stock opened at $465.95 on Friday. The stock has a 50 day moving average price of $467.10 and a 200 day moving average price of $490.59. Deere & Company has a 52-week low of $403.01 and a 52-week high of $533.78. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.98 and a current ratio of 2.19. The firm has a market capitalization of $125.96 billion, a P/E ratio of 24.36, a P/E/G ratio of 3.05 and a beta of 1.04.

Deere & Company (NYSE:DE) last released its earnings results on Wednesday, November 26th. The industrial products company reported $3.93 earnings per share for the quarter, missing analysts’ consensus estimates of $3.96 by ($0.03). Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The business had revenue of $12.39 billion during the quarter, compared to analysts’ expectations of $9.77 billion. During the same quarter in the previous year, the business earned $4.55 EPS. The business’s revenue for the quarter was up 14.1% on a year-over-year basis. As a group, sell-side analysts predict that Deere & Company will post 19.32 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO John C. May II sold 11,106 shares of the firm’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $500.08, for a total transaction of $5,553,888.48. Following the sale, the chief executive officer owned 112,453 shares of the company’s stock, valued at $56,235,496.24. This trade represents a 8.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.29% of the stock is currently owned by insiders.

Institutional Trading of Deere & Company

Hedge funds have recently modified their holdings of the company. Mid American Wealth Advisory Group Inc. purchased a new position in shares of Deere & Company in the 2nd quarter worth approximately $25,000. Strategic Advocates LLC acquired a new stake in Deere & Company in the third quarter valued at approximately $25,000. Activest Wealth Management grew its holdings in Deere & Company by 2,750.0% in the first quarter. Activest Wealth Management now owns 57 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 55 shares during the last quarter. Howard Hughes Medical Institute acquired a new position in shares of Deere & Company during the second quarter worth $27,000. Finally, Wealth Watch Advisors INC acquired a new position in shares of Deere & Company during the third quarter worth $32,000. 68.58% of the stock is owned by hedge funds and other 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.