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

Deere & Company (NYSE:DE - Get Free Report) had its price target increased by equities researchers at Oppenheimer from $555.00 to $560.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has an "outperform" rating on the industrial products company's stock. Oppenheimer's price objective indicates a potential upside of 10.90% from the stock's current price.

DE has been the topic of several other reports. BMO Capital Markets reissued a "market perform" rating and issued a $460.00 target price (up from $425.00) on shares of Deere & Company in a research report on Wednesday, May 21st. Melius Research raised shares of Deere & Company from a "hold" rating to a "strong-buy" rating in a research note on Friday, June 6th. Bank of America raised their price target on shares of Deere & Company from $495.00 to $556.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Raymond James Financial raised their target price 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. Finally, Truist Financial lifted their price target on shares of Deere & Company from $546.00 to $619.00 and gave the company a "buy" rating in a research report on Friday, May 16th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $515.50.

Deere & Company Price Performance

NYSE DE traded down $2.64 on Tuesday, hitting $504.97. 633,668 shares of the company's stock were exchanged, compared to its average volume of 1,343,788. Deere & Company has a 52 week low of $340.20 and a 52 week high of $533.78. The stock has a market cap of $136.76 billion, a price-to-earnings ratio of 24.43, a P/E/G ratio of 3.25 and a beta of 1.08. The company has a current ratio of 2.11, a quick ratio of 1.89 and a debt-to-equity ratio of 1.76. The stock has a 50-day moving average of $511.25 and a 200-day moving average of $479.24.

Deere & Company (NYSE:DE - Get Free Report) last posted its quarterly earnings results on Thursday, May 15th. The industrial products company reported $6.64 EPS for the quarter, topping analysts' consensus estimates of $5.72 by $0.92. Deere & Company had a net margin of 12.40% and a return on equity of 24.39%. The company had revenue of $11.17 billion for the quarter, compared to analysts' expectations of $10.80 billion. During the same quarter in the previous year, the firm posted $8.53 EPS. Deere & Company's revenue was down 17.9% on a year-over-year basis. Analysts expect that Deere & Company will post 19.32 earnings per share for the current year.

Hedge Funds Weigh In On Deere & Company

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Norges Bank acquired a new position in shares of Deere & Company in the 4th quarter worth approximately $1,244,094,000. GAMMA Investing LLC increased its position in shares of Deere & Company by 61,215.9% in the 1st quarter. GAMMA Investing LLC now owns 1,753,022 shares of the industrial products company's stock valued at $822,781,000 after purchasing an additional 1,750,163 shares during the last quarter. Castlekeep Investment Advisors LLC purchased a new stake in shares of Deere & Company in the 4th quarter valued at approximately $541,437,000. Nuveen LLC acquired a new position in shares of Deere & Company in the 1st quarter valued at $571,073,000. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of Deere & Company by 19.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,589,760 shares of the industrial products company's stock valued at $2,792,082,000 after buying an additional 1,095,736 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors.

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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