Deere & Company (NYSE:DE) Stock Rating Reaffirmed by Truist Financial

Deere & Company (NYSE:DE)‘s stock had its “buy” rating reiterated by equities researchers at Truist Financial in a research note issued to investors on Friday, Benzinga reports. They presently have a $443.00 price objective on the industrial products company’s stock, up from their prior price objective of $439.00. Truist Financial’s price target would suggest a potential upside of 17.70% from the company’s previous close.

Several other research firms have also recently commented on DE. BMO Capital Markets assumed coverage on shares of Deere & Company in a research note on Friday, August 9th. They set a “market perform” rating and a $400.00 target price on the stock. Oppenheimer lowered their target price on shares of Deere & Company from $465.00 to $448.00 and set an “outperform” rating on the stock in a research note on Monday, July 22nd. Daiwa Capital Markets raised their target price on shares of Deere & Company from $400.00 to $420.00 and gave the company an “overweight” rating in a research note on Wednesday, May 15th. Raymond James assumed coverage on shares of Deere & Company in a research note on Friday, June 28th. They set an “outperform” rating and a $420.00 target price on the stock. Finally, Bank of America raised their price objective on shares of Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a research report on Friday. Thirteen equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $422.35.

Deere & Company Stock Performance

Shares of NYSE:DE traded up $3.13 on Friday, reaching $376.39. 745,297 shares of the company’s stock were exchanged, compared to its average volume of 1,540,990. The firm has a market capitalization of $103.72 billion, a price-to-earnings ratio of 11.32, a PEG ratio of 1.59 and a beta of 0.93. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $425.42. The business’s 50-day moving average is $367.28 and its two-hundred day moving average is $380.70. The company has a quick ratio of 1.80, a current ratio of 2.01 and a debt-to-equity ratio of 1.81.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, topping analysts’ consensus estimates of $5.80 by $0.49. Deere & Company had a net margin of 16.15% and a return on equity of 42.26%. The business had revenue of $11.39 billion for the quarter, compared to analysts’ expectations of $10.94 billion. During the same quarter last year, the company earned $10.20 EPS. The company’s revenue for the quarter was down 20.3% compared to the same quarter last year. As a group, equities research analysts forecast that Deere & Company will post 25.41 EPS for the current year.

Insider Buying and Selling

In other Deere & Company news, insider Cory J. Reed sold 13,370 shares of Deere & Company stock in a transaction dated 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 transaction, the insider now owns 41,642 shares in the company, valued at $15,725,268.46. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.26% of the stock is owned by company insiders.

Institutional Trading of Deere & Company

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Deere & Company by 1.2% during the first quarter. Vanguard Group Inc. now owns 21,988,363 shares of the industrial products company’s stock worth $9,031,500,000 after purchasing an additional 263,709 shares during the period. Janus Henderson Group PLC raised its position in shares of Deere & Company by 0.5% during the first quarter. Janus Henderson Group PLC now owns 3,859,021 shares of the industrial products company’s stock worth $1,585,028,000 after purchasing an additional 19,200 shares during the period. Parnassus Investments LLC raised its position in shares of Deere & Company by 22.4% during the fourth quarter. Parnassus Investments LLC now owns 3,856,171 shares of the industrial products company’s stock worth $1,541,967,000 after purchasing an additional 705,771 shares during the period. Norges Bank acquired a new position in shares of Deere & Company during the fourth quarter worth approximately $1,248,036,000. Finally, Legal & General Group Plc raised its position in shares of Deere & Company by 2.7% during the second quarter. Legal & General Group Plc now owns 2,254,266 shares of the industrial products company’s stock worth $842,259,000 after purchasing an additional 60,255 shares during the period. 68.58% of the stock is currently owned by institutional investors.

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.