Deere & Company (NYSE:DE) Earns "Market Perform" Rating from BMO Capital Markets

Deere & Company (NYSE:DE - Get Free Report)'s stock had its "market perform" rating reaffirmed by BMO Capital Markets in a report released on Wednesday, Marketbeat.com reports. They currently have a $460.00 price objective on the industrial products company's stock, up from their prior price objective of $425.00. BMO Capital Markets' price target points to a potential downside of 9.77% from the company's current price.

A number of other research analysts have also recently commented on DE. Raymond James raised their price target on shares of Deere & Company from $530.00 to $560.00 and gave the stock an "outperform" rating in a research note on Friday, May 16th. Bank of America increased their target price on Deere & Company from $495.00 to $556.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. Baird R W lowered Deere & Company from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 3rd. DA Davidson reiterated a "buy" rating and set a $542.00 price objective on shares of Deere & Company in a research note on Friday, May 16th. Finally, UBS Group cut their price objective on Deere & Company from $462.00 to $440.00 and set a "neutral" rating for the company in a report on Monday, April 7th. Thirteen analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $516.75.

Deere & Company Stock Performance

DE stock traded down $5.82 during midday trading on Wednesday, hitting $509.83. 850,750 shares of the company traded hands, compared to its average volume of 1,409,902. The company has a quick ratio of 1.98, a current ratio of 2.22 and a debt-to-equity ratio of 1.94. Deere & Company has a twelve month low of $340.20 and a twelve month high of $533.78. The business has a 50 day simple moving average of $472.60 and a 200-day simple moving average of $459.05. The stock has a market capitalization of $138.37 billion, a price-to-earnings ratio of 22.60, a price-to-earnings-growth ratio of 2.14 and a beta of 1.08.

Deere & Company (NYSE:DE - Get Free Report) last announced its earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.72 by $0.92. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. The business had revenue of $11.17 billion for the quarter, compared to analyst estimates of $10.80 billion. During the same quarter in the previous year, the firm posted $8.53 earnings per share. Deere & Company's revenue was down 17.9% compared to the same quarter last year. As a group, equities research analysts predict that Deere & Company will post 19.32 earnings per share for the current year.

Institutional Trading of Deere & Company

Several hedge funds have recently modified their holdings of the stock. Atomi Financial Group Inc. raised its stake in shares of Deere & Company by 34.2% in the fourth quarter. Atomi Financial Group Inc. now owns 2,277 shares of the industrial products company's stock worth $965,000 after purchasing an additional 580 shares during the last quarter. Fort Washington Investment Advisors Inc. OH raised its holdings in shares of Deere & Company by 19.0% in the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 10,079 shares of the industrial products company's stock worth $4,270,000 after purchasing an additional 1,611 shares during the period. MCF Advisors LLC lifted its position in shares of Deere & Company by 4.1% during the 4th quarter. MCF Advisors LLC now owns 818 shares of the industrial products company's stock valued at $348,000 after buying an additional 32 shares during the last quarter. Simon Quick Advisors LLC lifted its holdings in Deere & Company by 17.8% during the fourth quarter. Simon Quick Advisors LLC now owns 1,068 shares of the industrial products company's stock valued at $453,000 after purchasing an additional 161 shares during the last quarter. Finally, XML Financial LLC lifted its stake in shares of Deere & Company by 10.2% during the 4th quarter. XML Financial LLC now owns 911 shares of the industrial products company's stock valued at $386,000 after buying an additional 84 shares in 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.