Deere & Company (NYSE:DE) Given New $495.00 Price Target at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. has lowered its price target for Deere & Company from $500.00 to $495.00, maintaining a "neutral" rating on the stock.
• Despite JPMorgan's downgrade, other analysts have increased their price targets, with Raymond James Financial raising theirs from $530.00 to $560.00 and maintaining an "outperform" rating.
• Deere & Company reported earnings of $4.75 per share, exceeding expectations, even though revenue declined by 9.0% compared to the same quarter last year.

Deere & Company (NYSE:DE - Get Free Report) had its price target lowered by JPMorgan Chase & Co. from $500.00 to $495.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a "neutral" rating on the industrial products company's stock. JPMorgan Chase & Co.'s price target points to a potential upside of 3.56% from the stock's previous close.

Several other equities research analysts have also commented on the stock. Raymond James Financial boosted their price target on shares of Deere & Company from $530.00 to $560.00 and gave the stock an "outperform" rating in a report on Friday, May 16th. Melius raised shares of Deere & Company from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Truist Financial cut their price target on shares of Deere & Company from $619.00 to $602.00 and set a "buy" rating for the company in a report on Friday, August 15th. Melius Research raised shares of Deere & Company from a "hold" rating to a "strong-buy" rating in a report on Friday, June 6th. Finally, Oppenheimer upped their target price on shares of Deere & Company from $560.00 to $566.00 and gave the stock an "outperform" rating in a report on Friday, August 15th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $520.87.

Deere & Company Stock Performance

Shares of DE traded down $0.64 during trading hours on Tuesday, hitting $478.00. The stock had a trading volume of 349,430 shares, compared to its average volume of 1,351,365. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.98 and a current ratio of 2.19. The firm has a 50-day moving average price of $504.33 and a 200 day moving average price of $491.37. Deere & Company has a fifty-two week low of $378.66 and a fifty-two week high of $533.78. The firm has a market capitalization of $129.22 billion, a price-to-earnings ratio of 24.99, a PEG ratio of 3.07 and a beta of 1.00.

Deere & Company (NYSE:DE - Get Free Report) last posted its earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.62 by $0.13. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The firm had revenue of $10.36 billion during the quarter, compared to analysts' expectations of $10.33 billion. During the same period in the previous year, the business posted $6.29 EPS. The business's revenue was down 9.0% compared to the same quarter last year. As a group, research analysts anticipate that Deere & Company will post 19.32 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Assenagon Asset Management S.A. lifted its position in Deere & Company by 58.9% in the first quarter. Assenagon Asset Management S.A. now owns 13,625 shares of the industrial products company's stock valued at $6,395,000 after buying an additional 5,053 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd lifted its position in Deere & Company by 10.7% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 8,280 shares of the industrial products company's stock valued at $3,863,000 after buying an additional 798 shares during the last quarter. Providence Capital Advisors LLC lifted its position in Deere & Company by 2.1% in the first quarter. Providence Capital Advisors LLC now owns 14,639 shares of the industrial products company's stock valued at $6,871,000 after buying an additional 303 shares during the last quarter. Bragg Financial Advisors Inc lifted its position in Deere & Company by 12.7% in the first quarter. Bragg Financial Advisors Inc now owns 7,213 shares of the industrial products company's stock valued at $3,386,000 after buying an additional 813 shares during the last quarter. Finally, ASR Vermogensbeheer N.V. acquired a new position in Deere & Company in the first quarter valued at about $13,588,000. Institutional investors and hedge funds own 68.58% of the company's stock.

Deere & Company Company Profile

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.

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