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

Deere & Company (NYSE:DE) had its price objective hoisted by equities researchers at Wolfe Research from $520.00 to $550.00 in a research report issued to clients and investors on Friday,MarketScreener reports. The brokerage currently has an “outperform” rating on the industrial products company’s stock. Wolfe Research’s price objective suggests a potential upside of 18.12% from the company’s current price.

A number of other brokerages have also issued reports on DE. JPMorgan Chase & Co. lowered their price target on Deere & Company from $480.00 to $460.00 and set a “neutral” rating on the stock in a research note on Friday, December 19th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Deere & Company in a research note on Monday. DA Davidson reaffirmed a “buy” rating and set a $580.00 target price on shares of Deere & Company in a report on Monday, December 1st. Royal Bank Of Canada decreased their price target on shares of Deere & Company from $542.00 to $541.00 and set an “outperform” rating on the stock in a research note on Friday, November 28th. Finally, Robert W. Baird dropped their price objective on shares of Deere & Company from $488.00 to $467.00 and set a “neutral” rating for the company in a research note on Monday, October 13th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, Deere & Company has an average rating of “Moderate Buy” and a consensus price target of $524.20.

Deere & Company Stock Down 0.9%

DE stock opened at $465.65 on Friday. Deere & Company has a 52 week low of $403.01 and a 52 week high of $533.78. The company has a quick ratio of 2.01, a current ratio of 2.22 and a debt-to-equity ratio of 1.68. The firm has a 50-day simple moving average of $473.45 and a 200-day simple moving average of $483.81. The stock has a market capitalization of $125.93 billion, a P/E ratio of 25.16, a P/E/G ratio of 1.78 and a beta of 1.00.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Wednesday, November 26th. The industrial products company reported $3.93 earnings per share for the quarter, missing analysts’ consensus estimates of $3.96 by ($0.03). Deere & Company had a net margin of 11.00% and a return on equity of 20.54%. The company had revenue of $12.39 billion during the quarter, compared to analysts’ expectations of $9.77 billion. During the same period in the prior year, the business posted $4.55 earnings per share. The company’s quarterly revenue was up 14.1% compared to the same quarter last year. Equities analysts forecast that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Deere & Company news, CEO John C. May II sold 11,106 shares of the stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $500.08, for a total transaction of $5,553,888.48. Following the transaction, the chief executive officer owned 112,453 shares of the company’s stock, valued at $56,235,496.24. This trade represents a 8.99% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.29% of the company’s stock.

Hedge Funds Weigh In On Deere & Company

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Triumph Capital Management purchased a new stake in shares of Deere & Company during the third quarter valued at $749,000. Hudson Bay Capital Management LP increased its stake in Deere & Company by 115.5% in the 3rd quarter. Hudson Bay Capital Management LP now owns 929 shares of the industrial products company’s stock worth $425,000 after purchasing an additional 6,913 shares in the last quarter. Allworth Financial LP raised its holdings in Deere & Company by 1.9% during the 3rd quarter. Allworth Financial LP now owns 9,670 shares of the industrial products company’s stock worth $4,422,000 after buying an additional 182 shares during the period. IFP Advisors Inc lifted its stake in Deere & Company by 2.3% during the third quarter. IFP Advisors Inc now owns 3,229 shares of the industrial products company’s stock valued at $1,620,000 after buying an additional 72 shares in the last quarter. Finally, Swiss Life Asset Management Ltd lifted its stake in Deere & Company by 14.5% during the third quarter. Swiss Life Asset Management Ltd now owns 44,131 shares of the industrial products company’s stock valued at $20,179,000 after buying an additional 5,603 shares in the last quarter. Institutional investors own 68.58% of the company’s stock.

Deere & Company Company Profile

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.