Deere & Company (NYSE:DE) Price Target Cut to $419.00

Deere & Company (NYSE:DE – Get Rating) had its price objective reduced by research analysts at Oppenheimer from $446.00 to $419.00 in a research note issued on Monday, The Fly reports. Oppenheimer’s price objective would indicate a potential upside of 33.73% from the company’s previous close.

A number of other equities research analysts have also issued reports on the stock. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Deere & Company from $400.00 to $417.00 and gave the company a “hold” rating in a report on Tuesday, February 22nd. Robert W. Baird cut their price target on shares of Deere & Company from $487.00 to $442.00 in a report on Sunday. Wells Fargo & Company dropped their price objective on shares of Deere & Company from $455.00 to $410.00 in a research note on Monday. Bank of America lowered shares of Deere & Company from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $475.00 to $450.00 in a research note on Monday, April 25th. Finally, Barclays dropped their price target on shares of Deere & Company from $415.00 to $400.00 in a research note on Monday. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, Deere & Company has a consensus rating of “Buy” and a consensus price target of $435.13.

Deere & Company stock opened at $313.31 on Monday. The company has a quick ratio of 1.94, a current ratio of 2.25 and a debt-to-equity ratio of 1.84. The firm has a 50-day moving average price of $401.49 and a two-hundred day moving average price of $377.52. The firm has a market capitalization of $96.12 billion, a price-to-earnings ratio of 17.37, a PEG ratio of 1.19 and a beta of 1.02. Deere & Company has a 52-week low of $307.64 and a 52-week high of $446.76.

Deere & Company (NYSE:DE – Get Rating) last issued its quarterly earnings results on Friday, May 20th. The industrial products company reported $6.81 earnings per share for the quarter, topping analysts’ consensus estimates of $6.71 by $0.10. The company had revenue of $12.03 billion during the quarter, compared to analyst estimates of $13.16 billion. Deere & Company had a net margin of 12.69% and a return on equity of 33.65%. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the prior year, the business posted $5.68 EPS. Research analysts expect that Deere & Company will post 22.69 earnings per share for the current year.

In other news, insider Pentz Markwart Von sold 18,364 shares of the business’s stock in a transaction dated Monday, March 14th. The shares were sold at an average price of $393.00, for a total value of $7,217,052.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Rajesh Kalathur sold 32,391 shares of the company’s stock in a transaction dated Monday, March 7th. The stock was sold at an average price of $400.00, for a total transaction of $12,956,400.00. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.

Several institutional investors have recently bought and sold shares of the business. Quilter Plc boosted its holdings in shares of Deere & Company by 2.5% during the 1st quarter. Quilter Plc now owns 3,345 shares of the industrial products company’s stock worth $1,390,000 after buying an additional 80 shares in the last quarter. EP Wealth Advisors LLC raised its position in Deere & Company by 22.7% in the 1st quarter. EP Wealth Advisors LLC now owns 1,072 shares of the industrial products company’s stock valued at $445,000 after buying an additional 198 shares during the last quarter. Toroso Investments LLC increased its position in shares of Deere & Company by 4.6% during the 1st quarter. Toroso Investments LLC now owns 44,104 shares of the industrial products company’s stock valued at $18,323,000 after purchasing an additional 1,945 shares during the last quarter. Van Hulzen Asset Management LLC increased its position in shares of Deere & Company by 16.9% during the 1st quarter. Van Hulzen Asset Management LLC now owns 24,910 shares of the industrial products company’s stock valued at $10,349,000 after purchasing an additional 3,600 shares during the last quarter. Finally, Golden State Wealth Management LLC increased its position in shares of Deere & Company by 12.5% during the 1st quarter. Golden State Wealth Management LLC now owns 3,976 shares of the industrial products company’s stock valued at $1,652,000 after purchasing an additional 443 shares during the last quarter. Hedge funds and other institutional investors own 67.35% of the company’s stock.

About Deere & Company (Get Rating)

Deere & Company manufactures and distributes various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides mid-size tractors, combines, cotton pickers and strippers, sugarcane harvesters, harvesting front-end equipment, sugarcane loaders, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.

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