JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Deere & Company (NYSE:DE) Stock

Deere & Company (NYSE:DE) had its price target lifted by research analysts at JPMorgan Chase & Co. from $450.00 to $470.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the industrial products company’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 6.99% from the company’s current price.

Several other research firms also recently weighed in on DE. Jefferies Financial Group downgraded Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price target on the stock. in a research note on Friday, December 6th. Morgan Stanley increased their target price on Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a research note on Monday, November 25th. Citigroup lowered their price target on Deere & Company from $470.00 to $430.00 and set a “neutral” rating for the company in a research report on Tuesday. Barclays raised their price objective on shares of Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Finally, Oppenheimer upped their target price on shares of Deere & Company from $448.00 to $477.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. Eleven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, Deere & Company presently has an average rating of “Hold” and a consensus price target of $442.83.

Deere & Company Stock Performance

Shares of Deere & Company stock opened at $439.29 on Wednesday. Deere & Company has a 12 month low of $340.20 and a 12 month high of $469.39. The firm has a market capitalization of $119.30 billion, a P/E ratio of 17.16, a P/E/G ratio of 1.74 and a beta of 0.98. 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 business has a fifty day simple moving average of $429.66 and a two-hundred day simple moving average of $401.06.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.89 by $0.66. The company had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9.20 billion. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. Deere & Company’s revenue was down 32.8% on a year-over-year basis. During the same period last year, the company posted $8.26 EPS. On average, equities analysts forecast that Deere & Company will post 19.57 earnings per share for the current fiscal year.

Institutional Trading of Deere & Company

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Charles Schwab Trust Co boosted its stake in shares of Deere & Company by 1.6% during the 4th quarter. Charles Schwab Trust Co now owns 6,437 shares of the industrial products company’s stock worth $2,727,000 after acquiring an additional 101 shares during the last quarter. Ballentine Partners LLC lifted its position in Deere & Company by 16.3% during the fourth quarter. Ballentine Partners LLC now owns 6,110 shares of the industrial products company’s stock valued at $2,589,000 after purchasing an additional 858 shares in the last quarter. Culbertson A N & Co. Inc. grew its holdings in Deere & Company by 1.1% during the fourth quarter. Culbertson A N & Co. Inc. now owns 24,202 shares of the industrial products company’s stock valued at $10,254,000 after purchasing an additional 265 shares during the period. ZWJ Investment Counsel Inc. increased its position in Deere & Company by 6.8% in the fourth quarter. ZWJ Investment Counsel Inc. now owns 1,593 shares of the industrial products company’s stock worth $675,000 after buying an additional 102 shares in the last quarter. Finally, Tudor Financial Inc. bought a new position in shares of Deere & Company in the fourth quarter worth about $239,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Company Profile

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.