Deere & Company (NYSE:DE) PT Lowered to $439.00

Deere & Company (NYSE:DE) had its price target cut by investment analysts at Truist Financial from $460.00 to $439.00 in a research note issued to investors on Tuesday, MarketBeat Ratings reports. The firm currently has a “buy” rating on the industrial products company’s stock. Truist Financial’s price target would indicate a potential upside of 21.02% from the stock’s previous close.

Other equities analysts have also issued reports about the company. Stifel Nicolaus boosted their price objective on Deere & Company from $425.00 to $450.00 and gave the company a “buy” rating in a research report on Friday, May 17th. Raymond James began coverage on shares of Deere & Company in a report on Friday, June 28th. They set an “outperform” rating and a $420.00 price objective on the stock. Citigroup started coverage on shares of Deere & Company in a research note on Wednesday, June 26th. They issued a “neutral” rating and a $395.00 target price for the company. TD Cowen increased their target price on Deere & Company from $383.00 to $390.00 and gave the stock a “hold” rating in a report on Friday, May 17th. Finally, Oppenheimer restated an “outperform” rating and issued a $456.00 price target on shares of Deere & Company in a report on Thursday, May 16th. Eleven analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $427.66.

Deere & Company Stock Down 0.6 %

Shares of NYSE:DE opened at $362.75 on Tuesday. The company has a 50 day moving average price of $383.89 and a two-hundred day moving average price of $386.94. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.80 and a current ratio of 2.01. The company has a market capitalization of $99.96 billion, a PE ratio of 10.92, a PEG ratio of 1.50 and a beta of 0.93. Deere & Company has a 52 week low of $353.15 and a 52 week high of $450.00.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, May 16th. The industrial products company reported $8.53 EPS for the quarter, topping the consensus estimate of $7.86 by $0.67. Deere & Company had a return on equity of 42.26% and a net margin of 16.15%. The business had revenue of $13.61 billion for the quarter, compared to the consensus estimate of $13.29 billion. During the same quarter last year, the business posted $9.65 EPS. The firm’s revenue was down 15.4% compared to the same quarter last year. Analysts forecast that Deere & Company will post 25.59 earnings per share for the current year.

Insider Activity

In other news, insider Cory J. Reed sold 13,370 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $377.63, for a total value of $5,048,913.10. Following the completion of the sale, the insider now directly owns 41,642 shares of the company’s stock, valued at $15,725,268.46. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.26% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in DE. True Wealth Design LLC boosted its stake in shares of Deere & Company by 1,180.0% in the fourth quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock valued at $26,000 after buying an additional 59 shares during the period. Pineridge Advisors LLC grew its holdings in shares of Deere & Company by 725.0% during the 1st quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 58 shares in the last quarter. ZRC Wealth Management LLC bought a new position in shares of Deere & Company in the fourth quarter worth $28,000. Rakuten Securities Inc. acquired a new position in Deere & Company in the fourth quarter valued at about $28,000. Finally, Naples Money Management LLC bought a new stake in Deere & Company during the fourth quarter worth about $29,000. Institutional investors own 68.58% of the company’s stock.

Deere & Company Company Profile

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.