Citigroup Cuts Deere & Company (NYSE:DE) Price Target to $430.00

Deere & Company (NYSE:DE) had its price objective decreased by Citigroup from $470.00 to $430.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the industrial products company’s stock. Citigroup’s target price indicates a potential downside of 0.27% from the stock’s current price.

A number of other research analysts also recently commented on the stock. Truist Financial increased their price objective on shares of Deere & Company from $538.00 to $550.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Jefferies Financial Group lowered Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price objective for the company. in a report on Friday, December 6th. Oppenheimer increased their target price on Deere & Company from $448.00 to $477.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Barclays boosted their price target on Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Finally, Morgan Stanley raised their price objective on Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a research note on Monday, November 25th. Eleven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $441.72.

Deere & Company Trading Up 0.3 %

DE stock traded up $1.24 during midday trading on Tuesday, reaching $431.15. 613,247 shares of the company’s stock traded hands, compared to its average volume of 1,168,684. The company has a debt-to-equity ratio of 1.89, a current ratio of 2.09 and a quick ratio of 1.90. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $469.39. The business has a 50-day moving average price of $428.56 and a two-hundred day moving average price of $400.45. The company has a market capitalization of $117.96 billion, a P/E ratio of 16.84, a PEG ratio of 1.88 and a beta of 0.96.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, topping the consensus estimate of $3.89 by $0.66. The company had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.20 billion. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The company’s revenue was down 32.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $8.26 earnings per share. Equities research analysts forecast that Deere & Company will post 19.41 EPS for the current fiscal year.

Hedge Funds Weigh In On Deere & Company

A number of large investors have recently made changes to their positions in the business. Wellington Management Group LLP grew its stake in Deere & Company by 32.0% in the third quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company’s stock valued at $3,068,404,000 after purchasing an additional 1,782,984 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Deere & Company by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 5,208,368 shares of the industrial products company’s stock valued at $2,168,737,000 after buying an additional 31,459 shares in the last quarter. FMR LLC increased its holdings in Deere & Company by 27.8% in the third quarter. FMR LLC now owns 4,542,013 shares of the industrial products company’s stock worth $1,895,518,000 after buying an additional 988,380 shares during the last quarter. Legal & General Group Plc raised its position in 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 valued at $842,259,000 after acquiring an additional 60,255 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its stake in Deere & Company by 8.6% in the third quarter. Fisher Asset Management LLC now owns 1,994,657 shares of the industrial products company’s stock valued at $832,431,000 after acquiring an additional 158,732 shares during the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

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.