Deere & Company (NYSE:DE) Price Target Lowered to $520.00 at Wolfe Research

Key Points

• Wolfe Research has lowered the price target for Deere & Company from $550.00 to $520.00, while maintaining an "outperform" rating, suggesting a potential upside of 13% from the current stock price.
• Several other analysts have also adjusted their price targets, with notable reductions from Daiwa Capital Markets to $530.00 and Oppenheimer to $512.00, indicating a generally cautious outlook.
• Deere & Company's recent quarterly earnings showed earnings per share of $4.75, surpassing estimates, although revenue declined 9% year-over-year.

Deere & Company (NYSE:DE - Get Free Report) had its price objective lowered by research analysts at Wolfe Research from $550.00 to $520.00 in a research report issued to clients and investors on Friday,MarketScreener reports. The brokerage presently has an "outperform" rating on the industrial products company's stock. Wolfe Research's price target would suggest a potential upside of 13.00% from the stock's current price.

DE has been the subject of a number of other research reports. Daiwa Capital Markets cut their price target on shares of Deere & Company from $565.00 to $530.00 and set an "outperform" rating for the company in a report on Thursday, September 25th. Oppenheimer decreased their price target on Deere & Company from $566.00 to $512.00 and set an "outperform" rating on the stock in a research note on Thursday, September 18th. DA Davidson lowered their price target on Deere & Company from $595.00 to $580.00 and set a "buy" rating on the stock in a report on Monday, August 18th. Melius raised Deere & Company from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Finally, Robert W. Baird decreased their target price on Deere & Company from $520.00 to $488.00 and set a "neutral" rating on the stock in a research report on Friday, August 15th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $518.18.

Deere & Company Stock Performance

Shares of DE stock opened at $460.20 on Friday. 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 stock has a 50 day simple moving average of $485.74 and a 200-day simple moving average of $489.22. The company has a market cap of $124.40 billion, a price-to-earnings ratio of 24.14, a price-to-earnings-growth ratio of 2.91 and a beta of 1.03. Deere & Company has a 12-month low of $387.03 and a 12-month high of $533.78.

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

Institutional Investors Weigh In On Deere & Company

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Mid American Wealth Advisory Group Inc. acquired a new stake in Deere & Company during the second quarter worth approximately $25,000. Activest Wealth Management lifted its stake in shares of Deere & Company by 2,750.0% during the 1st 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 period. Howard Hughes Medical Institute acquired a new stake in shares of Deere & Company during the second quarter worth $27,000. Hughes Financial Services LLC acquired a new stake in shares of Deere & Company during the first quarter worth $29,000. Finally, Cornerstone Planning Group LLC grew its position in shares of Deere & Company by 116.1% in the first 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 period. 68.58% of the stock is currently 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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