Oppenheimer Forecasts Strong Price Appreciation for Deere & Company (NYSE:DE) Stock

Deere & Company (NYSE:DE) had its price target raised by stock analysts at Oppenheimer from $448.00 to $477.00 in a research report issued on Friday, Marketbeat reports. The brokerage presently has an “outperform” rating on the industrial products company’s stock. Oppenheimer’s target price suggests a potential upside of 6.80% from the company’s current price.

Several other brokerages have also recently weighed in on DE. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a research report on Thursday, August 8th. Truist Financial boosted their target price on shares of Deere & Company from $443.00 to $496.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. BMO Capital Markets started coverage on shares of Deere & Company in a report on Friday, August 9th. They issued a “market perform” rating and a $400.00 price target for the company. Hsbc Global Res cut Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 19th. Finally, HSBC lowered Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, August 19th. Thirteen research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, Deere & Company presently has a consensus rating of “Hold” and an average target price of $431.61.

Deere & Company Stock Up 2.1 %

Shares of DE stock opened at $446.65 on Friday. The company’s fifty day simple moving average is $406.99 and its two-hundred day simple moving average is $386.36. Deere & Company has a 52 week low of $340.20 and a 52 week high of $447.50. The stock has a market cap of $122.20 billion, a P/E ratio of 17.45, a PEG ratio of 1.70 and a beta of 0.93. The company has a quick ratio of 1.87, a current ratio of 2.09 and a debt-to-equity ratio of 1.89.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, topping analysts’ consensus estimates of $3.90 by $0.65. The company had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.20 billion. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The firm’s revenue for the quarter was down 32.8% on a year-over-year basis. During the same period in the previous year, the business earned $8.26 earnings per share. Analysts predict that Deere & Company will post 21.41 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of DE. Mattern Wealth Management LLC increased its position in Deere & Company by 1.3% during the 3rd quarter. Mattern Wealth Management LLC now owns 1,884 shares of the industrial products company’s stock valued at $786,000 after purchasing an additional 25 shares during the period. Carret Asset Management LLC increased its holdings in Deere & Company by 0.3% during the third quarter. Carret Asset Management LLC now owns 8,148 shares of the industrial products company’s stock valued at $3,401,000 after buying an additional 25 shares during the period. Round Rock Advisors LLC raised its stake in Deere & Company by 2.0% in the third quarter. Round Rock Advisors LLC now owns 1,252 shares of the industrial products company’s stock worth $522,000 after buying an additional 25 shares in the last quarter. Centaurus Financial Inc. lifted its holdings in Deere & Company by 2.3% during the second quarter. Centaurus Financial Inc. now owns 1,160 shares of the industrial products company’s stock worth $433,000 after buying an additional 26 shares during the period. Finally, Cornell Pochily Investment Advisors Inc. boosted its position in Deere & Company by 0.7% during the 3rd quarter. Cornell Pochily Investment Advisors Inc. now owns 3,495 shares of the industrial products company’s stock valued at $1,459,000 after acquiring an additional 26 shares in the last quarter. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

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.