Deere & Company (NYSE:DE) PT Lowered to $416.00

Deere & Company (NYSE:DE – Get Rating) had its price objective reduced by research analysts at Bank of America from $484.00 to $416.00 in a research note issued on Sunday, The Fly reports. Bank of America‘s price target indicates a potential upside of 15.40% from the company’s current price.

Several other research analysts also recently commented on the company. Deutsche Bank Aktiengesellschaft reduced their target price on Deere & Company from $449.00 to $440.00 in a research note on Friday, May 12th. Evercore ISI reduced their target price on Deere & Company from $455.00 to $418.00 in a research note on Tuesday, May 9th. DA Davidson reiterated a “buy” rating and set a $520.00 target price on shares of Deere & Company in a research note on Tuesday, February 21st. Argus lifted their target price on Deere & Company from $475.00 to $485.00 and gave the stock a “buy” rating in a research note on Tuesday, February 21st. Finally, Morgan Stanley lifted their target price on Deere & Company from $522.00 to $537.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 21st. Seven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $443.91.

Deere & Company Stock Down 0.8 %

Shares of Deere & Company stock opened at $360.50 on Friday. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.76 and a current ratio of 2.07. The business’s 50 day simple moving average is $384.47 and its 200 day simple moving average is $409.67. The firm has a market cap of $106.82 billion, a PE ratio of 12.10, a P/E/G ratio of 0.97 and a beta of 1.03. Deere & Company has a 52-week low of $283.81 and a 52-week high of $448.40.

Deere & Company (NYSE:DE – Get Rating) last posted its quarterly earnings results on Friday, May 19th. The industrial products company reported $9.65 earnings per share for the quarter, beating analysts’ consensus estimates of $8.57 by $1.08. The firm had revenue of $16.08 billion during the quarter, compared to the consensus estimate of $14.87 billion. Deere & Company had a return on equity of 41.17% and a net margin of 14.71%. The business’s revenue was up 33.6% compared to the same quarter last year. During the same period last year, the company earned $6.81 earnings per share. On average, analysts predict that Deere & Company will post 30.72 earnings per share for the current fiscal year.

Institutional Trading of Deere & Company

Several institutional investors and hedge funds have recently modified their holdings of the business. RB Capital Management LLC raised its position in Deere & Company by 5.2% in the first quarter. RB Capital Management LLC now owns 1,637 shares of the industrial products company’s stock valued at $680,000 after purchasing an additional 81 shares during the last quarter. Bornite Capital Management LP bought a new position in Deere & Company in the first quarter valued at about $14,541,000. Retirement Income Solutions Inc bought a new position in Deere & Company in the first quarter valued at about $229,000. Sequoia Financial Advisors LLC raised its position in Deere & Company by 27.1% in the first quarter. Sequoia Financial Advisors LLC now owns 2,442 shares of the industrial products company’s stock valued at $1,014,000 after purchasing an additional 521 shares during the last quarter. Finally, Baird Financial Group Inc. raised its position in Deere & Company by 32.4% in the first quarter. Baird Financial Group Inc. now owns 114,322 shares of the industrial products company’s stock valued at $47,496,000 after purchasing an additional 27,985 shares during the last quarter. 75.72% of the stock is currently owned by institutional investors.

Deere & Company Company Profile

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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.