Melius Upgrades Deere & Company (NYSE:DE) to Buy

Deere & Company (NYSE:DE - Get Free Report) was upgraded by equities researchers at Melius from a "hold" rating to a "buy" rating in a research note issued on Friday,Briefing.com Automated Import reports.

Several other research analysts also recently issued reports on DE. Truist Financial boosted their price objective on shares of Deere & Company from $546.00 to $619.00 and gave the stock a "buy" 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. Evercore ISI lifted their target price on shares of Deere & Company from $455.00 to $493.00 and gave the company an "in-line" rating in a research note on Monday, May 19th. JPMorgan Chase & Co. upped their price target on shares of Deere & Company from $490.00 to $540.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. Finally, Citigroup lowered their target price on Deere & Company from $550.00 to $525.00 and set a "neutral" rating for the company in a research note on Friday, May 30th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $515.19.

Deere & Company Trading Up 0.5%

NYSE:DE opened at $510.57 on Friday. The company's 50 day moving average is $478.37 and its 200-day moving average is $465.12. 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 12 month low of $340.20 and a 12 month high of $533.78. The firm has a market cap of $138.28 billion, a price-to-earnings ratio of 22.63, a P/E/G ratio of 2.14 and a beta of 1.09.

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

Institutional Trading of Deere & Company

A number of large investors have recently bought and sold shares of the business. Activest Wealth Management increased its position in shares of Deere & Company by 2,750.0% during the first quarter. Activest Wealth Management now owns 57 shares of the industrial products company's stock worth $27,000 after acquiring an additional 55 shares in the last quarter. Pineridge Advisors LLC boosted its stake in Deere & Company by 60.5% in the 4th quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company's stock worth $29,000 after purchasing an additional 26 shares during the period. Hughes Financial Services LLC bought a new position in Deere & Company during the 1st quarter worth about $29,000. Cornerstone Planning Group LLC raised its stake in shares of Deere & Company by 116.1% in the 1st quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company's stock valued at $31,000 after purchasing an additional 36 shares during the period. Finally, YANKCOM Partnership acquired a new stake in shares of Deere & Company in the 4th quarter valued at about $34,000. 68.58% of the stock is owned by institutional investors.

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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