Deere & Company (NYSE:DE) Upgraded by UBS Group to "Buy" Rating

Key Points

• Deere & Company has been upgraded from a "hold" rating to a "strong-buy" rating by UBS Group, reflecting increasing confidence among analysts.
• Current analysts' consensus ratings show a mixed outlook with two Strong Buy, ten Buy, and nine Hold ratings, and a target price averaging $517.35.
• The company reported earnings of $4.75 per share for the last quarter, exceeding estimates, although revenue fell by 9.0% year-over-year.

Deere & Company (NYSE:DE - Get Free Report) was upgraded by investment analysts at UBS Group from a "hold" rating to a "buy" rating in a report released on Friday, Marketbeat.com reports. The firm presently has a $535.00 target price on the industrial products company's stock. UBS Group's price target would indicate a potential upside of 16.65% from the stock's previous close.

Other equities analysts have also issued research reports about the stock. Daiwa Capital Markets dropped their price target on shares of Deere & Company from $565.00 to $530.00 and set an "outperform" rating on the stock in a research report on Thursday, September 25th. Wolfe Research decreased their price target on shares of Deere & Company from $550.00 to $520.00 and set an "outperform" rating on the stock in a research note on Friday, October 3rd. 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. JPMorgan Chase & Co. reduced their target price on shares of Deere & Company from $495.00 to $480.00 and set a "neutral" rating on the stock in a research note on Tuesday. Finally, Evercore ISI set a $491.00 price target on shares of Deere & Company in a research report on Tuesday, August 19th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $517.35.

Deere & Company Stock Performance

Shares of DE opened at $458.63 on Friday. Deere & Company has a one year low of $387.03 and a one year high of $533.78. The company has a 50-day moving average of $473.24 and a two-hundred day moving average of $487.48. The stock has a market cap of $123.98 billion, a price-to-earnings ratio of 23.97, a PEG ratio of 2.94 and a beta of 1.02. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.19 and a quick ratio of 1.98.

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

Institutional Trading of Deere & Company

A number of large investors have recently bought and sold shares of DE. Vanguard Group Inc. grew its stake in shares of Deere & Company by 1.4% during the 2nd quarter. Vanguard Group Inc. now owns 22,372,671 shares of the industrial products company's stock worth $11,376,279,000 after acquiring an additional 309,081 shares in the last quarter. State Street Corp grew its holdings in shares of Deere & Company by 0.6% during the second quarter. State Street Corp now owns 10,386,268 shares of the industrial products company's stock worth $5,297,913,000 after purchasing an additional 64,262 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Deere & Company by 4.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,876,013 shares of the industrial products company's stock worth $3,227,258,000 after acquiring an additional 286,253 shares during the period. Geode Capital Management LLC lifted its stake in Deere & Company by 2.1% in the second quarter. Geode Capital Management LLC now owns 5,541,778 shares of the industrial products company's stock valued at $2,810,807,000 after buying an additional 111,627 shares during the period. Finally, Norges Bank acquired a new position in Deere & Company in the second quarter valued at approximately $1,578,243,000. 68.58% of the stock is 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.