Deere & Company (NYSE:DE) Price Target Raised to $496.00 at Truist Financial

Deere & Company (NYSE:DE) had its price objective raised by equities research analysts at Truist Financial from $443.00 to $496.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the industrial products company’s stock. Truist Financial’s price target suggests a potential upside of 22.17% from the stock’s current price.

Several other analysts have also weighed in on the company. Morgan Stanley reduced their price objective on Deere & Company from $450.00 to $425.00 and set an “overweight” rating on the stock in a research note on Monday, August 26th. Evercore ISI raised their price objective on Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a research report on Monday, August 19th. HSBC downgraded Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, August 19th. Deutsche Bank Aktiengesellschaft decreased their price objective on Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a report on Thursday, August 8th. Finally, Oppenheimer cut their target price on Deere & Company from $465.00 to $448.00 and set an “outperform” rating on the stock in a research report on Monday, July 22nd. Twelve research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $413.81.

Deere & Company Trading Up 1.4 %

DE stock traded up $5.72 during trading on Wednesday, hitting $406.00. The company had a trading volume of 226,129 shares, compared to its average volume of 1,489,487. The firm has a 50-day moving average price of $384.24 and a 200-day moving average price of $385.16. The stock has a market cap of $111.88 billion, a price-to-earnings ratio of 12.22, a PEG ratio of 1.36 and a beta of 0.92. Deere & Company has a 12 month low of $340.20 and a 12 month high of $420.47. 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 EPS for the quarter, topping analysts’ consensus estimates of $5.63 by $0.66. The business 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%. The firm’s quarterly revenue was down 20.3% on a year-over-year basis. During the same period last year, the business posted $10.20 earnings per share. As a group, analysts predict that Deere & Company will post 25.03 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in Deere & Company by 1.2% in the first quarter. Vanguard Group Inc. now owns 21,988,363 shares of the industrial products company’s stock valued at $9,031,500,000 after acquiring an additional 263,709 shares during the period. Janus Henderson Group PLC boosted its position in shares of Deere & Company by 0.5% in the first quarter. Janus Henderson Group PLC now owns 3,859,021 shares of the industrial products company’s stock worth $1,585,028,000 after purchasing an additional 19,200 shares during the period. Legal & General Group Plc increased its stake in shares of Deere & Company by 2.7% in the second quarter. Legal & General Group Plc now owns 2,254,266 shares of the industrial products company’s stock worth $842,259,000 after purchasing an additional 60,255 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Deere & Company by 15.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,146,441 shares of the industrial products company’s stock valued at $802,037,000 after purchasing an additional 279,627 shares during the period. Finally, Fisher Asset Management LLC lifted its stake in shares of Deere & Company by 11.3% during the 4th quarter. Fisher Asset Management LLC now owns 1,481,458 shares of the industrial products company’s stock valued at $592,391,000 after buying an additional 150,713 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Company Profile

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.