Deere & Company (NYSE:DE) Stock Price Expected to Rise, Evercore ISI Analyst Says

Deere & Company (NYSE:DE - Get Free Report) had its price target boosted by analysts at Evercore ISI from $455.00 to $493.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an "in-line" rating on the industrial products company's stock. Evercore ISI's price target would indicate a potential downside of 7.29% from the company's current price.

Other equities analysts have also issued research reports about the stock. StockNews.com upgraded shares of Deere & Company from a "sell" rating to a "hold" rating in a report on Tuesday, May 13th. Raymond James lifted their target price on shares of Deere & Company from $530.00 to $560.00 and gave the company an "outperform" rating in a report on Friday. Baird R W downgraded shares of Deere & Company from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 3rd. UBS Group dropped their price target on shares of Deere & Company from $462.00 to $440.00 and set a "neutral" rating on the stock in a research note on Monday, April 7th. Finally, DA Davidson reaffirmed a "buy" rating and set a $542.00 price target on shares of Deere & Company in a research note on Friday. Thirteen analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, Deere & Company currently has an average rating of "Hold" and a consensus price target of $506.75.

Deere & Company Stock Up 3.0%

Shares of DE opened at $531.79 on Monday. The firm has a market cap of $144.34 billion, a PE ratio of 23.57, a price-to-earnings-growth ratio of 2.14 and a beta of 1.08. The company's fifty day moving average is $468.29 and its two-hundred day moving average is $455.02. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $533.78. 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 (NYSE:DE - Get Free Report) last announced its quarterly earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share for the quarter, beating analysts' consensus estimates of $5.72 by $0.92. The company had revenue of $11.17 billion for the quarter, compared to analyst estimates of $10.80 billion. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. Deere & Company's revenue for the quarter was down 17.9% on a year-over-year basis. During the same quarter last year, the business earned $8.53 EPS. Analysts forecast that Deere & Company will post 19.32 earnings per share for the current year.

Insider Activity at Deere & Company

In related news, insider Rajesh Kalathur sold 24,580 shares of the firm's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $500.61, for a total value of $12,304,993.80. Following the transaction, the insider now directly owns 74,878 shares in the company, valued at approximately $37,484,675.58. This trade represents a 24.71% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.29% of the stock is currently owned by company insiders.

Institutional Trading of Deere & Company

Several hedge funds and other institutional investors have recently bought and sold shares of DE. Woodline Partners LP lifted its holdings in shares of Deere & Company by 40.0% during the 1st quarter. Woodline Partners LP now owns 21,399 shares of the industrial products company's stock worth $10,044,000 after acquiring an additional 6,118 shares during the period. Zurich Insurance Group Ltd FI acquired a new stake in shares of Deere & Company during the 1st quarter valued at about $101,526,000. MBB Public Markets I LLC acquired a new stake in shares of Deere & Company during the 1st quarter valued at about $312,000. Ascent Group LLC boosted its position in shares of Deere & Company by 57.3% during the 1st quarter. Ascent Group LLC now owns 2,168 shares of the industrial products company's stock valued at $1,018,000 after acquiring an additional 790 shares in the last quarter. Finally, Vancity Investment Management Ltd acquired a new stake in shares of Deere & Company during the 1st quarter valued at about $758,000. 68.58% of the stock is currently 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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