Robert W. Baird Lowers Deere & Company (NYSE:DE) Price Target to $580.00

Deere & Company (NYSE:DE) had its price target decreased by analysts at Robert W. Baird from $675.00 to $580.00 in a research report issued on Thursday,MarketScreener reports. The firm currently has a “neutral” rating on the industrial products company’s stock. Robert W. Baird’s target price would indicate a potential upside of 1.40% from the stock’s previous close.

A number of other analysts have also issued reports on the stock. Citigroup dropped their price target on shares of Deere & Company from $675.00 to $625.00 and set a “neutral” rating for the company in a research note on Monday, March 9th. BMO Capital Markets raised their price objective on shares of Deere & Company from $460.00 to $500.00 and gave the stock a “market perform” rating in a report on Friday, February 20th. Bank of America boosted their target price on shares of Deere & Company from $502.00 to $672.00 and gave the stock a “neutral” rating in a research report on Friday, February 20th. Morgan Stanley upped their target price on shares of Deere & Company from $560.00 to $730.00 and gave the company an “overweight” rating in a research note on Monday, February 23rd. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Deere & Company in a research report on Monday, December 29th. Sixteen equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $650.95.

Deere & Company Price Performance

Shares of NYSE DE opened at $572.02 on Thursday. Deere & Company has a fifty-two week low of $404.42 and a fifty-two week high of $674.19. The business has a 50 day moving average price of $582.44 and a two-hundred day moving average price of $511.48. The company has a quick ratio of 1.96, a current ratio of 2.21 and a debt-to-equity ratio of 1.59. The firm has a market cap of $154.51 billion, a PE ratio of 32.24, a price-to-earnings-growth ratio of 1.97 and a beta of 0.98.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, February 19th. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.90 by $0.52. The company had revenue of $9.61 billion for the quarter, compared to analyst estimates of $7.50 billion. Deere & Company had a return on equity of 18.93% and a net margin of 10.29%.Deere & Company’s quarterly revenue was up 17.5% on a year-over-year basis. During the same period in the prior year, the company posted $3.19 EPS. Sell-side analysts expect that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO John C. May II sold 41,472 shares of Deere & Company stock in a transaction dated Thursday, January 8th. The shares were sold at an average price of $501.49, for a total value of $20,797,793.28. Following the completion of the transaction, the chief executive officer directly owned 117,970 shares of the company’s stock, valued at approximately $59,160,775.30. The trade was a 26.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Cory J. Reed sold 12,000 shares of the business’s stock in a transaction dated Wednesday, January 14th. The shares were sold at an average price of $510.00, for a total transaction of $6,120,000.00. Following the sale, the insider directly owned 20,792 shares of the company’s stock, valued at approximately $10,603,920. This represents a 36.59% decrease in their position. The SEC filing for this sale provides additional information. 0.29% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Deere & Company

Large investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company increased its position in Deere & Company by 30.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 364,103 shares of the industrial products company’s stock valued at $185,143,000 after acquiring an additional 85,351 shares during the period. Csenge Advisory Group boosted its position in Deere & Company by 84.9% during the 3rd quarter. Csenge Advisory Group now owns 7,440 shares of the industrial products company’s stock worth $3,402,000 after acquiring an additional 3,416 shares during the period. MASTERINVEST Kapitalanlage GmbH acquired a new position in Deere & Company during the 2nd quarter worth $3,615,000. WINTON GROUP Ltd bought a new position in shares of Deere & Company in the second quarter worth $4,550,000. Finally, Compagnie Lombard Odier SCmA grew its stake in shares of Deere & Company by 66.1% in the third quarter. Compagnie Lombard Odier SCmA now owns 27,568 shares of the industrial products company’s stock worth $12,606,000 after purchasing an additional 10,974 shares in the last quarter. Institutional investors own 68.58% of the company’s stock.

About Deere & Company

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.