Deere & Company (NYSE:DE) Given New $520.00 Price Target at Daiwa Capital Markets

Deere & Company (NYSE:DE) had its price target reduced by Daiwa Capital Markets from $530.00 to $520.00 in a report released on Tuesday,MarketScreener reports. Daiwa Capital Markets currently has an outperform rating on the industrial products company’s stock.

A number of other brokerages have also recently commented on DE. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Deere & Company in a research note on Monday, November 24th. Oppenheimer increased their price target on Deere & Company from $512.00 to $531.00 and gave the stock an “outperform” rating in a report on Friday, November 28th. UBS Group reaffirmed a “buy” rating on shares of Deere & Company in a research report on Tuesday, November 25th. Wolfe Research decreased their price objective on Deere & Company from $550.00 to $520.00 and set an “outperform” rating for the company in a research report on Friday, October 3rd. Finally, Royal Bank Of Canada dropped their target price on shares of Deere & Company from $542.00 to $541.00 and set an “outperform” rating on the stock in a report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Deere & Company currently has an average rating of “Moderate Buy” and a consensus price target of $518.95.

Deere & Company Trading Up 0.2%

DE stock opened at $469.04 on Tuesday. The company has a current ratio of 2.22, a quick ratio of 2.01 and a debt-to-equity ratio of 1.68. The business’s 50 day moving average is $467.02 and its 200-day moving average is $489.69. Deere & Company has a 1-year low of $403.01 and a 1-year high of $533.78. The firm has a market cap of $126.80 billion, a P/E ratio of 25.34, a P/E/G ratio of 1.71 and a beta of 1.00.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Wednesday, November 26th. The industrial products company reported $3.93 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.96 by ($0.03). The company had revenue of $12.39 billion for the quarter, compared to the consensus estimate of $9.77 billion. Deere & Company had a net margin of 11.00% and a return on equity of 20.54%. The firm’s revenue was up 14.1% compared to the same quarter last year. During the same period in the previous year, the business posted $4.55 earnings per share. Equities analysts anticipate that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Institutional Trading of Deere & Company

Several hedge funds have recently modified their holdings of the stock. Mid American Wealth Advisory Group Inc. bought a new position in shares of Deere & Company during the 2nd quarter worth approximately $25,000. Strategic Advocates LLC purchased a new position in Deere & Company in the third quarter worth $25,000. Activest Wealth Management boosted its position 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 bought a new position in Deere & Company in the 2nd quarter valued at $27,000. Finally, Wealth Watch Advisors INC purchased a new stake in shares of Deere & Company during the 3rd quarter valued at $32,000. 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.