Deere & Company (NYSE:DE - Get Free Report) had its target price reduced by stock analysts at JPMorgan Chase & Co. from $425.00 to $385.00 in a report released on Friday, Benzinga reports. The brokerage presently has a "neutral" rating on the industrial products company's stock. JPMorgan Chase & Co.'s target price suggests a potential downside of 3.09% from the company's previous close.
DE has been the topic of a number of other reports. Stifel Nicolaus lifted their price target on Deere & Company from $425.00 to $450.00 and gave the stock a "buy" rating in a research note on Friday. TD Cowen lifted their price target on Deere & Company from $383.00 to $390.00 and gave the stock a "hold" rating in a research note on Friday. Morgan Stanley lifted their price target on Deere & Company from $430.00 to $450.00 in a research note on Wednesday. Deutsche Bank Aktiengesellschaft lowered their price target on Deere & Company from $425.00 to $401.00 and set a "hold" rating on the stock in a research note on Friday, February 16th. Finally, Evercore ISI boosted their price objective on Deere & Company from $381.00 to $387.00 and gave the stock an "in-line" rating in a research note on Tuesday, February 20th. Ten investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $435.78.
View Our Latest Analysis on Deere & Company
Deere & Company Stock Performance
Deere & Company stock traded up $2.86 during midday trading on Friday, hitting $397.29. 1,612,012 shares of the company were exchanged, compared to its average volume of 1,478,259. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.81 and a current ratio of 2.05. Deere & Company has a fifty-two week low of $345.55 and a fifty-two week high of $450.00. The business has a fifty day simple moving average of $399.20 and a two-hundred day simple moving average of $386.06. The firm has a market capitalization of $110.59 billion, a PE ratio of 11.57, a price-to-earnings-growth ratio of 1.56 and a beta of 1.04.
Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly earnings data on Thursday, May 16th. The industrial products company reported $8.53 EPS for the quarter, beating the consensus estimate of $7.86 by $0.67. Deere & Company had a return on equity of 44.60% and a net margin of 16.38%. The company had revenue of $13.61 billion for the quarter, compared to analyst estimates of $13.29 billion. During the same period last year, the company earned $9.65 earnings per share. Deere & Company's quarterly revenue was down 15.4% compared to the same quarter last year. On average, sell-side analysts forecast that Deere & Company will post 27.39 earnings per share for the current year.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in the business. Norges Bank acquired a new stake in shares of Deere & Company in the 4th quarter valued at about $1,248,036,000. International Assets Investment Management LLC boosted its position in shares of Deere & Company by 46,241.1% in the 4th quarter. International Assets Investment Management LLC now owns 840,627 shares of the industrial products company's stock valued at $336,142,000 after purchasing an additional 838,813 shares during the period. Parnassus Investments LLC boosted its position in shares of Deere & Company by 22.4% in the 4th quarter. Parnassus Investments LLC now owns 3,856,171 shares of the industrial products company's stock valued at $1,541,967,000 after purchasing an additional 705,771 shares during the period. FMR LLC boosted its position in shares of Deere & Company by 6.6% in the 3rd quarter. FMR LLC now owns 4,374,282 shares of the industrial products company's stock valued at $1,650,767,000 after purchasing an additional 269,571 shares during the period. Finally, Vanguard Group Inc. boosted its position in shares of Deere & Company by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 21,988,363 shares of the industrial products company's stock valued at $9,031,500,000 after purchasing an additional 263,709 shares during the period. Hedge funds and other institutional investors own 68.58% of the company's stock.
About Deere & Company
(
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Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.
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