Deere & Company (NYSE:DE) PT Lowered to $472.00 at Credit Suisse Group

Deere & Company (NYSE:DE – Get Rating) had its price target cut by equities researchers at Credit Suisse Group from $477.00 to $472.00 in a report released on Monday, The Fly reports. Credit Suisse Group’s price objective points to a potential upside of 50.65% from the stock’s current price.

Several other research firms also recently commented on DE. Deutsche Bank Aktiengesellschaft upped their price target on shares of Deere & Company from $400.00 to $417.00 and gave the company a “hold” rating in a research note on Tuesday, February 22nd. Oppenheimer raised their price objective on Deere & Company from $425.00 to $432.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 22nd. Robert W. Baird cut their target price on Deere & Company from $487.00 to $442.00 in a research report on Sunday. Wells Fargo & Company lowered their target price on Deere & Company from $455.00 to $410.00 in a research note on Monday. Finally, DA Davidson lifted their price target on shares of Deere & Company from $455.00 to $480.00 in a report on Friday, April 1st. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $438.33.

Shares of NYSE DE opened at $313.31 on Monday. The business’s 50 day moving average price is $401.49 and its two-hundred day moving average price is $377.52. Deere & Company has a twelve month low of $307.64 and a twelve month high of $446.76. The company has a market cap of $96.12 billion, a PE ratio of 17.37, a price-to-earnings-growth ratio of 1.19 and a beta of 1.02. The company has a quick ratio of 1.94, a current ratio of 2.25 and a debt-to-equity ratio of 1.84.

Deere & Company (NYSE:DE – Get Rating) last issued its quarterly earnings data on Friday, May 20th. The industrial products company reported $6.81 earnings per share for the quarter, beating the consensus estimate of $6.71 by $0.10. The company had revenue of $12.03 billion for 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 company’s revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the firm earned $5.68 earnings per share. As a group, research analysts anticipate that Deere & Company will post 22.69 EPS for the current fiscal year.

In other news, insider Pentz Markwart Von sold 18,364 shares of the business’s stock in a transaction that occurred on Monday, March 14th. The stock was sold at an average price of $393.00, for a total transaction of $7,217,052.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Rajesh Kalathur sold 32,391 shares of Deere & Company stock in a transaction that occurred on Monday, March 7th. The shares were sold at an average price of $400.00, for a total value of $12,956,400.00. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by insiders.

Institutional investors have recently added to or reduced their stakes in the business. Flagship Harbor Advisors LLC raised its holdings in shares of Deere & Company by 2.4% in the fourth quarter. Flagship Harbor Advisors LLC now owns 1,125 shares of the industrial products company’s stock valued at $386,000 after acquiring an additional 26 shares in the last quarter. JGP Wealth Management LLC grew its stake in Deere & Company by 2.4% in the first quarter. JGP Wealth Management LLC now owns 1,127 shares of the industrial products company’s stock valued at $471,000 after purchasing an additional 26 shares during the last quarter. Johnson Midwest Financial LLC grew its stake in Deere & Company by 4.5% in the fourth quarter. Johnson Midwest Financial LLC now owns 628 shares of the industrial products company’s stock valued at $215,000 after purchasing an additional 27 shares during the last quarter. Highland Private Wealth Management grew its stake in shares of Deere & Company by 2.6% during the first quarter. Highland Private Wealth Management now owns 1,067 shares of the industrial products company’s stock worth $444,000 after acquiring an additional 27 shares during the last quarter. Finally, Pinnacle Associates Ltd. grew its stake in shares of Deere & Company by 1.0% during the first quarter. Pinnacle Associates Ltd. now owns 2,728 shares of the industrial products company’s stock worth $1,133,000 after acquiring an additional 27 shares during the last quarter. 67.35% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Company Profile (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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