Robert W. Baird Increases Deere & Company (NYSE:DE) Price Target to $470.00

Deere & Company (NYSE:DEGet Rating) had its price objective hoisted by Robert W. Baird from $406.00 to $470.00 in a report released on Wednesday, The Fly reports. Robert W. Baird’s price target would suggest a potential upside of 7.42% from the company’s previous close.

A number of other research analysts have also recently issued reports on DE. Oppenheimer lifted their target price on shares of Deere & Company from $415.00 to $492.00 in a research note on Wednesday. Argus lifted their target price on shares of Deere & Company from $390.00 to $420.00 and gave the company a “buy” rating in a research note on Wednesday, August 24th. Bank of America lifted their target price on shares of Deere & Company from $335.00 to $381.00 in a research note on Sunday, August 21st. Morgan Stanley raised their price target on shares of Deere & Company from $416.00 to $424.00 and gave the company an “overweight” rating in a report on Sunday, August 21st. Finally, StockNews.com started coverage on shares of Deere & Company in a report on Wednesday, October 12th. They issued a “hold” rating for the company. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $412.58.

Deere & Company Stock Up 5.0 %

Shares of DE opened at $437.52 on Wednesday. The stock has a market cap of $132.05 billion, a price-to-earnings ratio of 21.87, a P/E/G ratio of 1.24 and a beta of 1.09. The company has a quick ratio of 1.68, a current ratio of 1.97 and a debt-to-equity ratio of 1.69. Deere & Company has a 12 month low of $283.81 and a 12 month high of $448.40. The company has a 50-day moving average price of $376.62 and a two-hundred day moving average price of $353.88.

Insider Activity

In related news, CAO Marc A. Howze sold 4,019 shares of the business’s stock in a transaction on Friday, September 9th. The shares were sold at an average price of $373.22, for a total value of $1,499,971.18. Following the sale, the chief accounting officer now directly owns 17,321 shares of the company’s stock, valued at approximately $6,464,543.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Cory J. Reed sold 2,034 shares of the business’s stock in a transaction on Monday, October 31st. The shares were sold at an average price of $401.75, for a total value of $817,159.50. Following the sale, the insider now directly owns 30,946 shares of the company’s stock, valued at approximately $12,432,555.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Marc A. Howze sold 4,019 shares of the business’s stock in a transaction on Friday, September 9th. The shares were sold at an average price of $373.22, for a total transaction of $1,499,971.18. Following the completion of the sale, the chief accounting officer now directly owns 17,321 shares in the company, valued at $6,464,543.62. The disclosure for this sale can be found here. Insiders sold 14,019 shares of company stock valued at $5,516,276 in the last quarter. Company insiders own 0.24% of the company’s stock.

Institutional Investors Weigh In On Deere & Company

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Altshuler Shaham Ltd acquired a new position in shares of Deere & Company during the 3rd quarter worth about $337,686,000. Winslow Capital Management LLC acquired a new position in shares of Deere & Company during the 1st quarter worth about $371,078,000. Invesco Ltd. increased its stake in shares of Deere & Company by 49.8% during the 1st quarter. Invesco Ltd. now owns 2,478,132 shares of the industrial products company’s stock worth $1,029,564,000 after purchasing an additional 823,367 shares during the last quarter. BlackRock Inc. increased its stake 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 worth $7,579,271,000 after purchasing an additional 706,609 shares during the last quarter. Finally, 1832 Asset Management L.P. increased its stake in shares of Deere & Company by 396,988.8% during the 1st quarter. 1832 Asset Management L.P. now owns 603,575 shares of the industrial products company’s stock worth $247,319,000 after purchasing an additional 603,423 shares during the last quarter. 75.34% of the stock is owned by institutional investors.

About Deere & Company

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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.

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