Truist Financial Reiterates “Buy” Rating for Deere & Company (NYSE:DE)

Deere & Company (NYSE:DE)‘s stock had its “buy” rating restated by equities research analysts at Truist Financial in a report issued on Friday,Benzinga reports. They currently have a $546.00 price target on the industrial products company’s stock, down from their previous price target of $550.00. Truist Financial’s price target suggests a potential upside of 13.71% from the stock’s current price.

DE has been the subject of several other reports. Citigroup reduced their price objective on Deere & Company from $470.00 to $430.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. JPMorgan Chase & Co. raised their price objective on Deere & Company from $470.00 to $500.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. Morgan Stanley raised their target price on Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. Oppenheimer raised their target price on Deere & Company from $477.00 to $507.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. Finally, Jefferies Financial Group lowered Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 target price on the stock. in a report on Friday, December 6th. Eleven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $448.72.

Deere & Company Trading Up 3.0 %

Deere & Company stock opened at $480.17 on Friday. Deere & Company has a one year low of $340.20 and a one year high of $485.84. The stock has a market cap of $130.77 billion, a PE ratio of 18.76, a price-to-earnings-growth ratio of 2.87 and a beta of 0.98. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.90 and a current ratio of 2.09. The stock has a 50-day moving average of $446.95 and a two-hundred day moving average of $416.21.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, February 13th. The industrial products company reported $3.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.14 by $0.05. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. On average, research analysts anticipate that Deere & Company will post 19.38 EPS for the current fiscal year.

Institutional Trading of Deere & Company

A number of institutional investors have recently made changes to their positions in DE. Creative Planning boosted its stake in shares of Deere & Company by 2.1% in the third quarter. Creative Planning now owns 75,462 shares of the industrial products company’s stock worth $31,493,000 after acquiring an additional 1,555 shares during the last quarter. Cornerstone Wealth Management LLC lifted its position in Deere & Company by 0.9% during the third quarter. Cornerstone Wealth Management LLC now owns 3,098 shares of the industrial products company’s stock worth $1,293,000 after buying an additional 27 shares in the last quarter. Good Life Advisors LLC lifted its position in Deere & Company by 12.2% during the third quarter. Good Life Advisors LLC now owns 3,457 shares of the industrial products company’s stock worth $1,443,000 after buying an additional 376 shares in the last quarter. Cardinal Capital Management lifted its position in Deere & Company by 1.0% during the third quarter. Cardinal Capital Management now owns 27,475 shares of the industrial products company’s stock worth $11,506,000 after buying an additional 275 shares in the last quarter. Finally, Trust Co. of Vermont lifted its position in Deere & Company by 3.7% during the third quarter. Trust Co. of Vermont now owns 21,102 shares of the industrial products company’s stock worth $8,806,000 after buying an additional 747 shares in the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.

About Deere & Company

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.