Deere & Company (NYSE:DE) Price Target Raised to $450.00

Deere & Company (NYSE:DE) had its price target lifted by Morgan Stanley from $401.00 to $450.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the industrial products company’s stock. Morgan Stanley’s target price points to a potential downside of 1.17% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on the company. Hsbc Global Res downgraded Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 19th. HSBC cut shares of Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, August 19th. Barclays increased their price target on shares of Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a research note on Friday. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a report on Thursday, August 8th. Finally, Evercore ISI raised their target price on Deere & Company from $371.00 to $378.00 and gave the company an “in-line” rating in a report on Monday, August 19th. Thirteen analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Deere & Company presently has an average rating of “Hold” and an average price target of $433.00.

Deere & Company Price Performance

Shares of DE opened at $455.33 on Monday. The business’s 50-day moving average is $406.99 and its 200-day moving average is $386.22. The company has a debt-to-equity ratio of 1.89, a current ratio of 2.09 and a quick ratio of 1.90. The company has a market capitalization of $124.58 billion, a price-to-earnings ratio of 17.51, a P/E/G ratio of 1.75 and a beta of 0.93. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $458.00.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.90 by $0.65. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The company had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.20 billion. During the same quarter in the prior year, the firm earned $8.26 EPS. The company’s revenue was down 32.8% compared to the same quarter last year. Equities research analysts expect that Deere & Company will post 21.31 EPS for the current fiscal year.

Hedge Funds Weigh In On Deere & Company

Large investors have recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. lifted its holdings in shares of Deere & Company by 20.5% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 15,808 shares of the industrial products company’s stock worth $5,906,000 after acquiring an additional 2,692 shares during the period. Chase Investment Counsel Corp raised its position in Deere & Company by 53.8% in the third quarter. Chase Investment Counsel Corp now owns 4,000 shares of the industrial products company’s stock worth $1,669,000 after purchasing an additional 1,400 shares in the last quarter. Balentine LLC bought a new position in Deere & Company during the third quarter worth about $710,000. Royal Fund Management LLC boosted its holdings in Deere & Company by 99.8% during the third quarter. Royal Fund Management LLC now owns 6,454 shares of the industrial products company’s stock valued at $2,694,000 after purchasing an additional 3,223 shares in the last quarter. Finally, New Century Financial Group LLC bought a new stake in shares of Deere & Company in the 3rd quarter valued at approximately $1,052,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Company Profile

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.