Deere & Company (NYSE:DE) Price Target Raised to $760.00

Deere & Company (NYSE:DE) had its target price hoisted by DA Davidson from $685.00 to $760.00 in a research note published on Monday morning, MarketBeat Ratings reports. They currently have a buy rating on the industrial products company’s stock.

A number of other research analysts also recently issued reports on DE. Truist Financial dropped their price target on shares of Deere & Company from $812.00 to $804.00 and set a “buy” rating on the stock in a research report on Monday. Seaport Research Partners set a $570.00 price target on Deere & Company in a research note on Friday, August 14th. JPMorgan Chase & Co. upped their target price on Deere & Company from $570.00 to $585.00 and gave the stock a “neutral” rating in a research report on Friday, August 21st. Bank of America cut their target price on Deere & Company from $672.00 to $607.50 and set a “neutral” rating on the stock in a report on Friday, May 22nd. Finally, Wall Street Zen downgraded shares of Deere & Company from a “hold” rating to a “sell” rating in a research report on Saturday, August 22nd. Fourteen analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, Deere & Company has a consensus rating of “Moderate Buy” and a consensus price target of $653.48.

Deere & Company Trading Up 0.4%

Shares of Deere & Company stock opened at $633.36 on Monday. The company has a quick ratio of 1.89, a current ratio of 2.10 and a debt-to-equity ratio of 1.45. The company has a market capitalization of $170.97 billion, a price-to-earnings ratio of 35.19, a PEG ratio of 2.60 and a beta of 0.90. The firm’s 50-day moving average price is $610.13 and its two-hundred day moving average price is $592.80. Deere & Company has a 12-month low of $433.00 and a 12-month high of $674.19.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, August 20th. The industrial products company reported $5.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.69 by $0.41. The firm had revenue of $12.61 billion for the quarter, compared to analysts’ expectations of $10.81 billion. Deere & Company had a return on equity of 18.10% and a net margin of 10.16%.The business’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.75 earnings per share. On average, analysts forecast that Deere & Company will post 18.09 earnings per share for the current fiscal year.

Institutional Trading of Deere & Company

Institutional investors and hedge funds have recently modified their holdings of the stock. Mowery & Schoenfeld Wealth Management LLC purchased a new position in shares of Deere & Company during the second quarter valued at approximately $27,000. Kilter Group LLC purchased a new stake in Deere & Company in the 2nd quarter valued at $29,000. Solstein Capital LLC purchased a new stake in Deere & Company in the 2nd quarter valued at $30,000. Orion Capital Management LLC bought a new position in Deere & Company during the 2nd quarter valued at $32,000. Finally, Markowski Investments purchased a new position in Deere & Company during the 2nd quarter worth $34,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

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.