Deere & Company (NYSE:DE)‘s stock had its “positive” rating restated by analysts at Argus in a research note issued to investors on Tuesday, The Fly reports. They presently have a $185.00 target price on the industrial products company’s stock. Argus’ target price would indicate a potential upside of 12.16% from the company’s current price.
Several other analysts also recently weighed in on the company. UBS Group lowered their price objective on Deere & Company from $180.00 to $169.00 and set a “neutral” rating for the company in a research report on Friday, November 29th. DZ Bank cut shares of Deere & Company from a “hold” rating to a “sell” rating and set a $148.00 target price on the stock. in a report on Friday, November 29th. JPMorgan Chase & Co. reaffirmed a “sell” rating and issued a $140.00 target price on shares of Deere & Company in a research note on Monday, November 25th. Citigroup decreased their target price on shares of Deere & Company from $200.00 to $195.00 and set a “buy” rating on the stock in a research note on Monday. Finally, Wells Fargo & Co reiterated a “market perform” rating and set a $177.00 price target (up from $170.00) on shares of Deere & Company in a report on Friday, November 29th. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the company’s stock. Deere & Company has an average rating of “Hold” and an average price target of $172.37.
Shares of DE opened at $164.95 on Tuesday. The firm’s 50 day simple moving average is $173.76 and its 200 day simple moving average is $161.41. The company has a market capitalization of $52.91 billion, a P/E ratio of 16.59, a P/E/G ratio of 2.27 and a beta of 1.13. The company has a debt-to-equity ratio of 2.65, a current ratio of 2.04 and a quick ratio of 1.80. Deere & Company has a 1-year low of $132.68 and a 1-year high of $180.48.
In related news, Chairman Samuel R. Allen sold 114,253 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $178.30, for a total transaction of $20,371,309.90. Following the completion of the sale, the chairman now owns 423,497 shares of the company’s stock, valued at $75,509,515.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider James M. Field sold 12,637 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $180.00, for a total transaction of $2,274,660.00. Following the sale, the insider now directly owns 113,858 shares of the company’s stock, valued at approximately $20,494,440. The disclosure for this sale can be found here. Insiders own 0.71% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Man Group plc boosted its holdings in Deere & Company by 250.1% in the third quarter. Man Group plc now owns 26,987 shares of the industrial products company’s stock worth $4,552,000 after purchasing an additional 19,278 shares during the last quarter. Worldquant Millennium Advisors LLC bought a new position in Deere & Company in the 3rd quarter worth $41,590,000. IHT Wealth Management LLC lifted its position in Deere & Company by 5.1% during the third quarter. IHT Wealth Management LLC now owns 2,269 shares of the industrial products company’s stock valued at $383,000 after purchasing an additional 110 shares in the last quarter. National Pension Service lifted its position in Deere & Company by 5.0% during the third quarter. National Pension Service now owns 367,670 shares of the industrial products company’s stock valued at $62,019,000 after purchasing an additional 17,507 shares in the last quarter. Finally, Baker Avenue Asset Management LP purchased a new position in Deere & Company during the third quarter valued at $2,334,000. 66.65% of the stock is currently owned by institutional investors and hedge funds.
Deere & Company Company Profile
Deere & Company manufactures and distributes various equipment worldwide. The company operates through three segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment offers agriculture and turf equipment, and related parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; and tillage, seeding, and application equipment.
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