Royal Bank Of Canada Reaffirms Outperform Rating for Deere & Company (NYSE:DE)

Deere & Company (NYSE:DE)‘s stock had its “outperform” rating reaffirmed by research analysts at Royal Bank Of Canada in a note issued to investors on Monday,Benzinga reports. They currently have a $752.00 target price on the industrial products company’s stock. Royal Bank Of Canada’s target price suggests a potential upside of 39.42% from the stock’s current price.

DE has been the topic of several other research reports. Sanford C. Bernstein raised their price target on Deere & Company from $521.00 to $615.00 and gave the company a “market perform” rating in a research note on Friday, February 20th. Argus raised their target price on shares of Deere & Company from $540.00 to $700.00 and gave the company a “buy” rating in a research report on Tuesday, March 3rd. BMO Capital Markets boosted their price target on shares of Deere & Company from $460.00 to $500.00 and gave the company a “market perform” rating in a report on Friday, February 20th. Wolfe Research increased their price objective on shares of Deere & Company from $550.00 to $660.00 and gave the company an “outperform” rating in a research note on Tuesday, March 31st. Finally, UBS Group lifted their price objective on shares of Deere & Company from $535.00 to $775.00 and gave the company a “buy” rating in a report on Friday, February 20th. Fifteen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $638.08.

Deere & Company Trading Down 0.5%

Shares of NYSE DE traded down $2.79 during trading hours on Monday, reaching $539.39. The stock had a trading volume of 38,063 shares, compared to its average volume of 1,438,446. Deere & Company has a 52-week low of $433.00 and a 52-week high of $674.19. The firm has a market cap of $145.60 billion, a price-to-earnings ratio of 30.51, a P/E/G ratio of 2.01 and a beta of 0.92. The business’s fifty day moving average price is $572.29 and its two-hundred day moving average price is $542.55. The company has a current ratio of 2.18, a quick ratio of 1.95 and a debt-to-equity ratio of 1.54.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, May 21st. The industrial products company reported $6.55 EPS for the quarter, topping the consensus estimate of $5.70 by $0.85. The company had revenue of $13.37 billion for the quarter, compared to the consensus estimate of $11.55 billion. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.Deere & Company’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period last year, the business posted $6.64 EPS. Analysts expect that Deere & Company will post 18.08 EPS for the current fiscal year.

Hedge Funds Weigh In On Deere & Company

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Strategic Advocates LLC purchased a new stake in Deere & Company during the 3rd quarter valued at about $25,000. Key Capital Management INC purchased a new position in shares of Deere & Company during the 4th quarter valued at approximately $27,000. Timmons Wealth Management LLC purchased a new position in shares of Deere & Company in the fourth quarter valued at approximately $29,000. McIlrath & Eck LLC purchased a new position in Deere & Company in the 4th quarter valued at $30,000. Finally, Portus Wealth Advisors LLC acquired a new stake in Deere & Company during the 1st quarter worth $32,000. 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.