Deere & Company (NYSE:DE) Price Target Raised to $556.00

Deere & Company (NYSE:DE) had its target price boosted by research analysts at Bank of America from $495.00 to $556.00 in a report released on Friday,Benzinga reports. The firm presently has a “neutral” rating on the industrial products company’s stock. Bank of America‘s price objective points to a potential upside of 4.55% from the stock’s current price.

Several other brokerages have also recently issued reports on DE. Baird R W cut shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 3rd. Morgan Stanley increased their price target on shares of Deere & Company from $450.00 to $500.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 16th. Argus set a $510.00 price target on shares of Deere & Company in a research report on Friday, March 7th. JPMorgan Chase & Co. increased their price target on shares of Deere & Company from $490.00 to $540.00 and gave the stock a “neutral” rating in a research report on Friday. Finally, Evercore ISI increased their price target on shares of Deere & Company from $437.00 to $455.00 and gave the stock an “in-line” rating in a research report on Wednesday, February 19th. Thirteen analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $504.38.

Deere & Company Trading Up 3.0%

Shares of DE stock opened at $531.79 on Friday. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.22 and a quick ratio of 1.98. The firm has a market cap of $144.34 billion, a PE ratio of 23.57, a price-to-earnings-growth ratio of 2.14 and a beta of 1.08. The company has a 50-day moving average of $468.29 and a two-hundred day moving average of $454.67. Deere & Company has a 1-year low of $340.20 and a 1-year high of $533.78.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share for the quarter, topping the consensus estimate of $5.72 by $0.92. The company had revenue of $11.17 billion during the quarter, compared to analyst estimates of $10.80 billion. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. On average, analysts predict that Deere & Company will post 19.32 EPS for the current year.

Insider Activity at Deere & Company

In other Deere & Company news, insider Rajesh Kalathur sold 24,580 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $500.61, for a total transaction of $12,304,993.80. Following the sale, the insider now owns 74,878 shares of the company’s stock, valued at approximately $37,484,675.58. This trade represents a 24.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.29% of the stock is owned by corporate insiders.

Institutional Trading of Deere & Company

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in shares of Deere & Company by 0.8% during the first quarter. Vanguard Group Inc. now owns 22,063,590 shares of the industrial products company’s stock worth $10,355,546,000 after acquiring an additional 185,671 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Deere & Company by 4.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,876,013 shares of the industrial products company’s stock valued at $3,227,258,000 after buying an additional 286,253 shares during the last quarter. Capital World Investors boosted its stake in shares of Deere & Company by 2.7% during the fourth quarter. Capital World Investors now owns 6,058,259 shares of the industrial products company’s stock worth $2,566,884,000 after buying an additional 157,224 shares during the period. FMR LLC boosted its stake in shares of Deere & Company by 22.9% during the fourth quarter. FMR LLC now owns 5,581,408 shares of the industrial products company’s stock worth $2,364,843,000 after buying an additional 1,039,395 shares during the period. Finally, Geode Capital Management LLC increased its position in Deere & Company by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 5,305,571 shares of the industrial products company’s stock valued at $2,247,216,000 after acquiring an additional 97,203 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.

About Deere & Company

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.