Deere & Company (NYSE:DE) Now Covered by Analysts at Cowen

Stock analysts at Cowen initiated coverage on shares of Deere & Company (NYSE:DEGet Rating) in a research report issued to clients and investors on Thursday, Briefing.com reports. The brokerage set a “market perform” rating and a $396.00 price target on the industrial products company’s stock. Cowen’s target price would indicate a potential upside of 11.54% from the company’s previous close.

Other analysts also recently issued research reports about the stock. Oppenheimer decreased their price target on shares of Deere & Company from $446.00 to $419.00 and set an “outperform” rating for the company in a research report on Monday, May 23rd. JPMorgan Chase & Co. raised shares of Deere & Company from an “underweight” rating to a “neutral” rating and raised their price target for the stock from $355.00 to $440.00 in a research report on Monday, March 28th. DA Davidson decreased their price target on shares of Deere & Company from $480.00 to $445.00 and set a “buy” rating for the company in a research report on Monday, May 23rd. Zacks Investment Research downgraded shares of Deere & Company from a “buy” rating to a “hold” rating and set a $412.00 price target for the company. in a research report on Monday, February 14th. Finally, StockNews.com assumed coverage on shares of Deere & Company in a report on Thursday, March 31st. They issued a “hold” rating for the company. Eight investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $430.00.

Shares of DE stock opened at $355.02 on Thursday. The firm has a market cap of $108.51 billion, a P/E ratio of 18.52, a PEG ratio of 1.21 and a beta of 1.02. Deere & Company has a 1-year low of $307.64 and a 1-year high of $446.76. The company has a debt-to-equity ratio of 1.72, a current ratio of 2.07 and a quick ratio of 1.76. The firm’s 50-day simple moving average is $385.12 and its 200-day simple moving average is $377.02.

Deere & Company (NYSE:DEGet Rating) last announced its quarterly earnings data on Friday, May 20th. The industrial products company reported $6.81 earnings per share for the quarter, topping the consensus estimate of $6.71 by $0.10. Deere & Company had a net margin of 12.99% and a return on equity of 33.58%. The business had revenue of $12.03 billion for the quarter, compared to analyst estimates of $13.16 billion. During the same period in the prior year, the firm posted $5.68 EPS. The company’s revenue was up 9.4% on a year-over-year basis. Analysts expect that Deere & Company will post 23.33 earnings per share for the current fiscal year.

In related news, insider John H. Stone sold 17,145 shares of Deere & Company stock in a transaction dated Thursday, May 26th. The stock was sold at an average price of $4,321.07, for a total value of $74,084,745.15. Following the transaction, the insider now owns 21,087 shares of the company’s stock, valued at approximately $91,118,403.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Pentz Markwart Von sold 18,364 shares of Deere & Company stock in a transaction dated Monday, March 14th. The stock was sold at an average price of $393.00, for a total value of $7,217,052.00. The disclosure for this sale can be found here. 0.24% of the stock is owned by insiders.

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of Deere & Company by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 21,678,757 shares of the industrial products company’s stock valued at $9,006,656,000 after buying an additional 194,170 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Deere & Company by 4.0% during the 1st quarter. BlackRock Inc. now owns 18,243,075 shares of the industrial products company’s stock valued at $7,579,271,000 after buying an additional 706,609 shares during the last quarter. State Street Corp lifted its holdings in shares of Deere & Company by 0.9% during the 4th quarter. State Street Corp now owns 11,613,684 shares of the industrial products company’s stock valued at $3,994,236,000 after buying an additional 102,269 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Deere & Company by 3.9% during the 1st quarter. Wellington Management Group LLP now owns 6,344,147 shares of the industrial products company’s stock valued at $2,635,740,000 after buying an additional 235,686 shares during the last quarter. Finally, Parnassus Investments LLC lifted its holdings in Deere & Company by 1.2% in the 1st quarter. Parnassus Investments LLC now owns 3,606,635 shares of the industrial products company’s stock worth $1,498,413,000 after purchasing an additional 43,557 shares during the last quarter. 67.35% of the stock is currently owned by institutional investors.

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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