JPMorgan Chase & Co. Has Lowered Expectations for Deere & Company (NYSE:DE) Stock Price

Key Points

• JPMorgan Chase & Co. lowered its price target for Deere & Company from $495.00 to $480.00, maintaining a "neutral" rating, which indicates limited growth potential for the stock.
• Multiple analysts have similarly adjusted their price targets for Deere & Company, with estimates ranging from $440.00 to $580.00, reflecting a consensus rating of "Moderate Buy" with an average target of $511.76.
• Despite a decline in quarterly revenue, Deere & Company reported earnings per share of $4.75, exceeding analyst expectations, highlighting strong underlying performance amid challenging market conditions.

Deere & Company (NYSE:DE - Get Free Report) had its price target decreased by investment analysts at JPMorgan Chase & Co. from $495.00 to $480.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has a "neutral" rating on the industrial products company's stock. JPMorgan Chase & Co.'s price target points to a potential upside of 9.48% from the stock's previous close.

Other research analysts have also issued research reports about the company. Robert W. Baird decreased their target price on Deere & Company from $520.00 to $488.00 and set a "neutral" rating for the company in a research report on Friday, August 15th. DA Davidson decreased their target price on Deere & Company from $595.00 to $580.00 and set a "buy" rating for the company in a research report on Monday, August 18th. Weiss Ratings reissued a "hold (c+)" rating on shares of Deere & Company in a research report on Wednesday, October 8th. Jefferies Financial Group decreased their target price on Deere & Company from $510.00 to $440.00 and set a "hold" rating for the company in a research report on Wednesday, October 8th. Finally, Wolfe Research cut their target price on Deere & Company from $550.00 to $520.00 and set an "outperform" rating on the stock in a research note on Friday, October 3rd. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, Deere & Company presently has a consensus rating of "Moderate Buy" and a consensus price target of $511.76.

Deere & Company Price Performance

Shares of NYSE:DE opened at $438.43 on Tuesday. The stock's fifty day simple moving average is $477.70 and its two-hundred day simple moving average is $488.26. The stock has a market cap of $118.52 billion, a PE ratio of 22.88, a price-to-earnings-growth ratio of 2.87 and a beta of 1.02. Deere & Company has a 1-year low of $387.03 and a 1-year high of $533.78. The company has a current ratio of 2.19, a quick ratio of 1.98 and a debt-to-equity ratio of 1.76.

Deere & Company (NYSE:DE - Get Free Report) last announced its quarterly earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share for the quarter, beating 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 return on equity of 21.97% and a net margin of 11.72%.The firm's quarterly revenue 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. As a group, analysts forecast that Deere & Company will post 19.32 EPS for the current fiscal year.

Institutional Trading of Deere & Company

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mid American Wealth Advisory Group Inc. purchased a new stake in Deere & Company during the 2nd quarter worth approximately $25,000. Howard Hughes Medical Institute acquired a new position in Deere & Company during the second quarter worth $27,000. Activest Wealth Management raised its stake in shares of Deere & Company by 2,750.0% in the first quarter. Activest Wealth Management now owns 57 shares of the industrial products company's stock valued at $27,000 after acquiring an additional 55 shares in the last quarter. Hughes Financial Services LLC purchased a new position in Deere & Company in the first quarter valued at $29,000. Finally, Cornerstone Planning Group LLC increased its holdings in 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 buying an additional 36 shares during the last quarter. Institutional investors and hedge funds 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.

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