Deere & Company (NYSE:DE) Price Target Lowered to $467.00 at Robert W. Baird

Key Points

• Deere & Company has had its price target lowered by Robert W. Baird from $488.00 to $467.00, while maintaining a "neutral" rating on the stock.
• A variety of other brokerages have provided differing assessments, with Wolfe Research setting a new price target of $520.00, and Truist Financial increasing theirs to $609.00.
• The stock's current rating averages to a "Moderate Buy" with an average price target of $511.76, despite a reported 9.0% year-over-year decline in quarterly revenue.

Deere & Company (NYSE:DE - Get Free Report) had its price objective decreased by investment analysts at Robert W. Baird from $488.00 to $467.00 in a research report issued to clients and investors on Monday,MarketScreener reports. The firm currently has a "neutral" rating on the industrial products company's stock. Robert W. Baird's price objective points to a potential upside of 6.76% from the company's previous close.

A number of other brokerages have also recently weighed in on DE. Weiss Ratings reissued a "hold (c+)" rating on shares of Deere & Company in a research note on Wednesday, October 8th. Wolfe Research decreased 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. Truist Financial lifted their price target on shares of Deere & Company from $602.00 to $609.00 and gave the company a "buy" rating in a report on Wednesday, October 8th. Jefferies Financial Group reduced their target price on shares of Deere & Company from $510.00 to $440.00 and set a "hold" rating on the stock in a report on Wednesday, October 8th. Finally, Citigroup dropped their price target on shares of Deere & Company from $525.00 to $515.00 and set a "neutral" rating on the stock in a research note on Tuesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and ten have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $511.76.

Deere & Company Stock Performance

Shares of DE stock opened at $437.42 on Monday. The stock has a market cap of $118.25 billion, a PE ratio of 22.88, a price-to-earnings-growth ratio of 2.87 and a beta of 1.02. The business has a 50-day simple moving average of $477.70 and a 200-day simple moving average of $488.26. The company has a quick ratio of 1.98, a current ratio of 2.19 and a debt-to-equity ratio of 1.76. Deere & Company has a 52-week low of $387.03 and a 52-week high of $533.78.

Deere & Company (NYSE:DE - Get Free Report) last released its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 EPS for the quarter, beating analysts' consensus estimates of $4.62 by $0.13. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The firm had revenue of $10.36 billion for the quarter, compared to analysts' expectations of $10.33 billion. During the same period in the prior year, the firm posted $6.29 earnings per share. The firm's quarterly revenue was down 9.0% on a year-over-year basis. On average, equities analysts expect that Deere & Company will post 19.32 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Mid American Wealth Advisory Group Inc. bought a new stake in Deere & Company during the 2nd quarter valued at $25,000. Activest Wealth Management grew its holdings in shares of Deere & Company by 2,750.0% in the first quarter. Activest Wealth Management now owns 57 shares of the industrial products company's stock worth $27,000 after purchasing an additional 55 shares during the last quarter. Howard Hughes Medical Institute purchased a new position in Deere & Company during the second quarter valued at $27,000. Hughes Financial Services LLC purchased a new position in Deere & Company in the 1st quarter worth about $29,000. Finally, Cornerstone Planning Group LLC increased its position in shares of Deere & Company by 116.1% during the 1st quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company's stock valued at $31,000 after purchasing an additional 36 shares during the last quarter. Institutional investors 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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