Deere & Company (NYSE:DE) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Deere & Company (NYSE:DE) had its target price upped by research analysts at Morgan Stanley from $401.00 to $450.00 in a report released on Monday,Benzinga reports. The firm currently has an “overweight” rating on the industrial products company’s stock. Morgan Stanley’s price objective suggests a potential downside of 2.42% from the stock’s previous close.

Other research analysts have also issued reports about the company. Bank of America raised their price target on Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a report on Friday, August 16th. BMO Capital Markets assumed coverage on Deere & Company in a research note on Friday, August 9th. They set a “market perform” rating and a $400.00 target price for the company. Truist Financial raised their target price on Deere & Company from $496.00 to $538.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Oppenheimer raised their target price on Deere & Company from $448.00 to $477.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. Finally, Barclays raised their target price on Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Thirteen investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $433.00.

Deere & Company Stock Performance

DE stock opened at $461.15 on Monday. The company has a current ratio of 2.09, a quick ratio of 1.90 and a debt-to-equity ratio of 1.89. The firm has a market cap of $126.17 billion, a P/E ratio of 18.01, a P/E/G ratio of 1.75 and a beta of 0.93. Deere & Company has a 12-month low of $340.20 and a 12-month high of $469.39. The stock’s 50 day simple moving average is $409.62 and its 200 day simple moving average is $386.98.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, topping the consensus estimate of $3.90 by $0.65. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The firm had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.20 billion. During the same period last year, the company earned $8.26 earnings per share. The firm’s revenue for the quarter was down 32.8% on a year-over-year basis. As a group, equities research analysts predict that Deere & Company will post 21.31 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Oppenheimer Asset Management Inc. grew its holdings in Deere & Company by 20.5% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 15,808 shares of the industrial products company’s stock valued at $5,906,000 after buying an additional 2,692 shares during the last quarter. Chase Investment Counsel Corp grew its holdings in Deere & Company by 53.8% in the 3rd quarter. Chase Investment Counsel Corp now owns 4,000 shares of the industrial products company’s stock valued at $1,669,000 after buying an additional 1,400 shares during the last quarter. Balentine LLC acquired a new stake in Deere & Company in the 3rd quarter valued at approximately $710,000. Douglass Winthrop Advisors LLC grew its holdings in Deere & Company by 2.9% in the 3rd quarter. Douglass Winthrop Advisors LLC now owns 273,207 shares of the industrial products company’s stock valued at $114,017,000 after buying an additional 7,753 shares during the last quarter. Finally, Royal Fund Management LLC grew its holdings in Deere & Company by 99.8% in the 3rd quarter. Royal Fund Management LLC now owns 6,454 shares of the industrial products company’s stock valued at $2,694,000 after buying an additional 3,223 shares during the last quarter. 68.58% of the stock is owned by institutional investors.

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.