Deere & Company (NYSE:DE) Price Target Raised to $420.00 at Citigroup

Deere & Company (NYSE:DE) had its price objective hoisted by investment analysts at Citigroup from $395.00 to $420.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the industrial products company’s stock. Citigroup’s price target would indicate a potential upside of 3.58% from the stock’s previous close.

Several other research analysts have also issued reports on DE. Raymond James started coverage on Deere & Company in a research report on Friday, June 28th. They set an “outperform” rating and a $420.00 target price on the stock. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a research report on Thursday, August 8th. Morgan Stanley dropped their target price on shares of Deere & Company from $450.00 to $425.00 and set an “overweight” rating on the stock in a research report on Monday, August 26th. Truist Financial raised their price target on shares of Deere & Company from $443.00 to $496.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Bank of America lifted their price objective on shares of Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a research note on Friday, August 16th. Twelve equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Deere & Company has an average rating of “Hold” and a consensus price target of $416.94.

Deere & Company Stock Up 1.3 %

Shares of DE stock traded up $5.20 on Wednesday, hitting $405.48. The stock had a trading volume of 760,096 shares, compared to its average volume of 1,492,225. Deere & Company has a one year low of $340.20 and a one year high of $420.47. The business has a 50 day moving average price of $384.24 and a 200 day moving average price of $385.16. The company has a market cap of $111.74 billion, a PE ratio of 12.21, a P/E/G ratio of 1.36 and a beta of 0.92. The company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 1.85.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.63 by $0.66. The company had revenue of $11.39 billion for the quarter, compared to analyst estimates of $10.94 billion. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. Deere & Company’s revenue was down 20.3% compared to the same quarter last year. During the same period last year, the company posted $10.20 earnings per share. Research analysts anticipate that Deere & Company will post 25.03 earnings per share for the current fiscal year.

Institutional Trading of Deere & Company

A number of hedge funds and other institutional investors have recently modified their holdings of DE. True Wealth Design LLC raised its position in shares of Deere & Company by 1,180.0% during the 4th quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock valued at $26,000 after buying an additional 59 shares during the period. Fairscale Capital LLC purchased a new stake in Deere & Company in the second quarter valued at $26,000. Pineridge Advisors LLC lifted its stake in shares of Deere & Company by 725.0% in the 1st quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 58 shares during the last quarter. Livelsberger Financial Advisory purchased a new position in shares of Deere & Company during the 4th quarter worth $30,000. Finally, Spartan Planning & Wealth Management purchased a new stake in Deere & Company in the 4th quarter valued at about $33,000. 68.58% of the stock is owned by institutional investors and hedge funds.

About Deere & Company

Deere & Company engages in the manufacture and distribution of 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 large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, 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.