Deere & Company (NYSE:DE) Price Target Lowered to $515.00 at Citigroup

Key Points

• Citigroup has lowered its price target for Deere & Company from $525.00 to $515.00 while maintaining a "neutral" rating, indicating a potential upside of 12.30% from the company's previous close.
• Other analysts have mixed views, with Truist Financial increasing their target price to $609.00 (rated "buy"), while Robert W. Baird lowered theirs to $488.00 (rated "neutral").
• Deere & Company recently reported $4.75 EPS for the last quarter, surpassing estimates, but also showing a 9.0% decrease in quarterly revenue year-over-year.

Deere & Company (NYSE:DE - Get Free Report) had its target price reduced by research analysts at Citigroup from $525.00 to $515.00 in a report issued on Tuesday,MarketScreener reports. The firm presently has a "neutral" rating on the industrial products company's stock. Citigroup's target price indicates a potential upside of 12.30% from the company's previous close.

Other research analysts also recently issued reports about the stock. Truist Financial increased their target price on shares of Deere & Company from $602.00 to $609.00 and gave the company a "buy" rating in a research report on Wednesday. Robert W. Baird lowered their price target on shares of Deere & Company from $520.00 to $488.00 and set a "neutral" rating for the company in a report on Friday, August 15th. Oppenheimer reduced their price target on shares of Deere & Company from $566.00 to $512.00 and set an "outperform" rating on the stock in a research report on Thursday, September 18th. Wall Street Zen upgraded shares of Deere & Company from a "sell" rating to a "hold" rating in a research note on Saturday, October 4th. Finally, Wolfe Research lowered their price target on shares of Deere & Company from $550.00 to $520.00 and set an "outperform" rating for the company in a research report on Friday, October 3rd. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $513.88.

Deere & Company Price Performance

Shares of Deere & Company stock traded down $2.18 during trading hours on Tuesday, reaching $458.58. The stock had a trading volume of 59,521 shares, compared to its average volume of 1,364,881. The stock's 50 day moving average is $481.60 and its 200 day moving average is $488.75. The firm has a market capitalization of $123.97 billion, a PE ratio of 23.99, a PEG ratio of 2.97 and a beta of 1.02. Deere & Company has a twelve month low of $387.03 and a twelve month 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.

Deere & Company (NYSE:DE - Get Free Report) last released its earnings results on Thursday, August 14th. The industrial products company reported $4.75 EPS for the quarter, topping analysts' consensus estimates of $4.62 by $0.13. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The business had revenue of $10.36 billion during the quarter, compared to analysts' expectations of $10.33 billion. During the same quarter in the previous year, the company earned $6.29 earnings per share. The company's quarterly revenue was down 9.0% on a year-over-year basis. Equities analysts expect 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 the company. Brighton Jones LLC boosted its position in shares of Deere & Company by 39.1% during the fourth quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company's stock valued at $1,927,000 after buying an additional 1,278 shares during the last quarter. Farther Finance Advisors LLC raised its stake in shares of Deere & Company by 27.4% during the 1st quarter. Farther Finance Advisors LLC now owns 3,220 shares of the industrial products company's stock valued at $1,541,000 after purchasing an additional 692 shares during the period. GAMMA Investing LLC grew its position in Deere & Company by 30.6% during the first quarter. GAMMA Investing LLC now owns 3,735 shares of the industrial products company's stock worth $1,753,000 after buying an additional 876 shares in the last quarter. Simplicity Wealth LLC grew its position in Deere & Company by 91.5% during the first quarter. Simplicity Wealth LLC now owns 1,061 shares of the industrial products company's stock worth $498,000 after buying an additional 507 shares in the last quarter. Finally, SG Americas Securities LLC boosted its holdings in shares of Deere & Company by 42.3% in the 1st quarter. SG Americas Securities LLC now owns 5,836 shares of the industrial products company's stock worth $2,739,000 after purchasing an additional 1,735 shares in the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.

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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