Deere & Company (NYSE:DE) Price Target Lowered to $440.00 at Jefferies Financial Group

Key Points

• Jefferies Financial Group has lowered its price target for Deere & Company from $510.00 to $440.00, indicating a potential downside of 4.05% from the previous close and maintaining a "hold" rating.
• Other analysts have also adjusted their targets, with DA Davidson lowering theirs to $580.00 while maintaining a "buy" rating, showing mixed sentiment among analysts regarding the stock.
• In the recent quarter, Deere & Company reported an earnings per share of $4.75, exceeding estimates despite a 9% decline in revenue compared to the same quarter last year.

Deere & Company (NYSE:DE - Get Free Report) had its price objective dropped by equities research analysts at Jefferies Financial Group from $510.00 to $440.00 in a research report issued on Wednesday,MarketScreener reports. The firm currently has a "hold" rating on the industrial products company's stock. Jefferies Financial Group's price target suggests a potential downside of 4.05% from the company's previous close.

Other research analysts have also recently issued reports about the stock. DA Davidson reduced their target price on shares of Deere & Company from $595.00 to $580.00 and set a "buy" rating on the stock in a research report on Monday, August 18th. Evercore ISI set a $491.00 price target on shares of Deere & Company in a report on Tuesday, August 19th. Wall Street Zen raised shares of Deere & Company from a "sell" rating to a "hold" rating in a report on Saturday, October 4th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Deere & Company in a report on Wednesday. Finally, Wolfe Research cut their price target on shares of Deere & Company from $550.00 to $520.00 and set an "outperform" rating on the stock in a report on Friday, October 3rd. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, Deere & Company presently has a consensus rating of "Moderate Buy" and an average target price of $513.88.

Deere & Company Stock Down 0.5%

NYSE:DE traded down $2.18 during midday trading on Wednesday, hitting $458.58. 59,521 shares of the company were exchanged, compared to its average volume of 1,364,881. Deere & Company has a fifty-two week low of $387.03 and a fifty-two week high of $533.78. The company has a current ratio of 2.19, a quick ratio of 1.98 and a debt-to-equity ratio of 1.76. The company has a market capitalization of $123.97 billion, a PE ratio of 23.99, a price-to-earnings-growth ratio of 2.97 and a beta of 1.02. The company has a fifty day simple moving average of $481.60 and a 200 day simple moving average of $488.75.

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

Institutional Trading of Deere & Company

A number of hedge funds have recently made changes to their positions in DE. Assenagon Asset Management S.A. raised its position in Deere & Company by 58.9% during 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 acquiring an additional 5,053 shares in the last quarter. OLD National Bancorp IN grew its stake in shares of Deere & Company by 2.6% in the second quarter. OLD National Bancorp IN now owns 24,000 shares of the industrial products company's stock worth $12,204,000 after acquiring an additional 610 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd boosted its stake in Deere & Company by 10.7% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 8,280 shares of the industrial products company's stock worth $3,863,000 after buying an additional 798 shares in the last quarter. Providence Capital Advisors LLC lifted its holdings in shares of Deere & Company by 2.1% during 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 acquiring an additional 303 shares during the period. Finally, Bragg Financial Advisors Inc raised its holdings in shares of 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. 68.58% of the stock is owned by hedge funds and other institutional investors.

About Deere & Company

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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