Deere & Company (NYSE:DE) Given Buy Rating at DA Davidson

Key Points

• DA Davidson reiterated a Buy rating on Deere & Company and maintained a $685 price target, implying about 14.8% upside from the prior close.
• Analyst sentiment remains broadly positive: 14 analysts rate Deere a Buy, nine rate it Hold, and the consensus view is Moderate Buy with a $642.98 average price target.
• Deere shares were down slightly to $596.63, but the company recently beat quarterly expectations with $6.55 EPS versus $5.70 estimated and $13.37 billion in revenue versus $11.55 billion expected.

Deere & Company (NYSE:DE - Get Free Report)'s stock had its "buy" rating reiterated by investment analysts at DA Davidson in a research note issued to investors on Friday,Benzinga reports. They currently have a $685.00 target price on the industrial products company's stock. DA Davidson's price target would indicate a potential upside of 14.81% from the stock's previous close.

Several other analysts also recently weighed in on the stock. Royal Bank Of Canada reiterated an "outperform" rating and issued a $752.00 target price on shares of Deere & Company in a report on Monday, June 1st. JPMorgan Chase & Co. increased their target price on Deere & Company from $560.00 to $590.00 and gave the stock a "neutral" rating in a research note on Thursday, June 4th. Oppenheimer restated an "outperform" rating and set a $680.00 target price (down from $715.00) on shares of Deere & Company in a report on Wednesday, May 27th. Robert W. Baird cut their price target on shares of Deere & Company from $580.00 to $525.00 and set a "neutral" rating on the stock in a research note on Friday, May 22nd. Finally, Wolfe Research increased their price target on shares of Deere & Company from $550.00 to $660.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 31st. Fourteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $642.98.

Deere & Company Trading Down 0.4%

DE traded down $2.34 on Friday, hitting $596.63. The company had a trading volume of 499,400 shares, compared to its average volume of 1,416,189. The firm has a market cap of $161.05 billion, a P/E ratio of 33.78, a PEG ratio of 2.18 and a beta of 0.89. Deere & Company has a 1 year low of $433.00 and a 1 year high of $674.19. The company's fifty day moving average price is $582.10 and its 200 day moving average price is $571.13. 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 - Get Free Report) last announced its earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share for the quarter, topping the consensus estimate of $5.70 by $0.85. The company had revenue of $13.37 billion during the quarter, compared to analyst estimates of $11.55 billion. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. Deere & Company's revenue was up 5.4% compared to the same quarter last year. During the same quarter last year, the firm posted $6.64 earnings per share. As a group, equities analysts expect that Deere & Company will post 18.13 earnings per share for the current year.

Institutional Trading of Deere & Company

Several hedge funds have recently added to or reduced their stakes in DE. Norges Bank acquired a new stake in shares of Deere & Company in the 4th quarter valued at $1,715,633,000. Capital World Investors grew its stake in shares of Deere & Company by 53.9% during the fourth quarter. Capital World Investors now owns 9,592,004 shares of the industrial products company's stock worth $4,465,906,000 after purchasing an additional 3,358,264 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in Deere & Company by 1,725.8% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,003,715 shares of the industrial products company's stock valued at $932,870,000 after buying an additional 1,893,972 shares during the last quarter. M&T Bank Corp raised its stake in Deere & Company by 1,199.8% in the fourth quarter. M&T Bank Corp now owns 1,864,701 shares of the industrial products company's stock valued at $868,149,000 after buying an additional 1,721,239 shares in the last quarter. Finally, Diamant Asset Management Inc. lifted its holdings in Deere & Company by 56,230.0% during the 1st quarter. Diamant Asset Management Inc. now owns 610,617 shares of the industrial products company's stock worth $343,961,000 after buying an additional 609,533 shares during the last quarter. Institutional investors and hedge funds own 68.58% of the company's stock.

Key Deere & Company News

Here are the key news stories impacting Deere & Company this week:

• Positive Sentiment: Deere shares had recently shown resilience, rising in the latest reported trading session despite a softer broader market, suggesting investors still see value in the stock. Deere (DE) Increases Despite Market Slip: Here's What You Need to Know
• Neutral Sentiment: Deere was included in broader articles highlighting agriculture and industrial stocks to watch, but these pieces did not provide company-specific news that would materially move the stock. Best Agriculture Stocks To Watch Now - July 14th
• Negative Sentiment: Erste Group Bank lowered its FY2027 EPS estimate for Deere to $22.81 from $23.00, adding to concerns that earnings growth may be slowing. Even after the cut, the forecast remains above current consensus, but the revision can still weigh on sentiment. Deere & Company stock report
• Negative Sentiment: A recent FTC settlement requires John Deere to expand access to repair tools, which could increase support costs and reduce some of the company’s aftermarket control over repairs. John Deere agrees to expand repair tool access under FTC settlement

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.

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