Deere & Company (NYSE:DE) Price Target Raised to $185.00 at Wells Fargo & Co

Deere & Company (NYSE:DE) had its price target raised by research analysts at Wells Fargo & Co from $177.00 to $185.00 in a research note issued to investors on Tuesday, The Fly reports. The brokerage presently has an “equal weight” rating on the industrial products company’s stock. Wells Fargo & Co‘s price objective would indicate a potential upside of 6.00% from the stock’s current price.

Other equities research analysts also recently issued research reports about the stock. Argus reaffirmed a “positive” rating and issued a $185.00 target price on shares of Deere & Company in a research report on Tuesday, December 3rd. DZ Bank downgraded shares of Deere & Company from a “hold” rating to a “sell” rating and set a $148.00 target price for the company. in a research report on Friday, November 29th. Citigroup cut their target price on shares of Deere & Company from $200.00 to $195.00 and set a “buy” rating for the company in a research report on Monday, December 2nd. BMO Capital Markets boosted their price objective on shares of Deere & Company from $175.00 to $180.00 and gave the company an “outperform” rating in a research report on Monday, December 2nd. Finally, Bank of America downgraded shares of Deere & Company from a “neutral” rating to an “underperform” rating and cut their price objective for the company from $200.00 to $150.00 in a research report on Monday, December 2nd. Four analysts have rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $172.79.

Shares of DE stock traded up $1.61 during trading hours on Tuesday, hitting $174.53. 37,880 shares of the company’s stock traded hands, compared to its average volume of 1,181,616. Deere & Company has a 12-month low of $132.68 and a 12-month high of $180.48. The stock has a market cap of $54.67 billion, a price-to-earnings ratio of 17.57, a PEG ratio of 4.11 and a beta of 1.13. The stock’s fifty day simple moving average is $172.16 and its two-hundred day simple moving average is $166.72. The company has a quick ratio of 1.80, a current ratio of 2.04 and a debt-to-equity ratio of 2.65.

Deere & Company (NYSE:DE) last posted its earnings results on Wednesday, November 27th. The industrial products company reported $2.14 EPS for the quarter, topping analysts’ consensus estimates of $2.13 by $0.01. Deere & Company had a net margin of 8.29% and a return on equity of 27.11%. The business had revenue of $8.70 billion during the quarter, compared to the consensus estimate of $8.41 billion. During the same quarter in the previous year, the firm posted $2.30 EPS. The firm’s revenue was up 4.3% on a year-over-year basis. On average, equities analysts forecast that Deere & Company will post 9.44 earnings per share for the current fiscal year.

In related news, insider Rajesh Kalathur sold 12,151 shares of the company’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $164.32, for a total value of $1,996,652.32. Following the completion of the transaction, the insider now owns 55,178 shares of the company’s stock, valued at approximately $9,066,848.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO John C. May II sold 8,112 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $174.11, for a total transaction of $1,412,380.32. Following the completion of the transaction, the chief executive officer now directly owns 49,157 shares of the company’s stock, valued at approximately $8,558,725.27. The disclosure for this sale can be found here. Insiders sold a total of 152,228 shares of company stock valued at $26,934,906 in the last ninety days. 0.71% of the stock is currently owned by insiders.

A number of institutional investors have recently modified their holdings of DE. KLCM Advisors Inc. boosted its stake in shares of Deere & Company by 4.7% during the third quarter. KLCM Advisors Inc. now owns 1,319 shares of the industrial products company’s stock valued at $222,000 after purchasing an additional 59 shares in the last quarter. Benjamin Edwards Inc. lifted its position in Deere & Company by 69.7% during the third quarter. Benjamin Edwards Inc. now owns 151 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 62 shares during the last quarter. Beaton Management Co. Inc. lifted its position in Deere & Company by 1.1% during the third quarter. Beaton Management Co. Inc. now owns 6,276 shares of the industrial products company’s stock valued at $1,059,000 after acquiring an additional 68 shares during the last quarter. FormulaFolio Investments LLC lifted its position in Deere & Company by 1.6% during the fourth quarter. FormulaFolio Investments LLC now owns 5,173 shares of the industrial products company’s stock valued at $896,000 after acquiring an additional 82 shares during the last quarter. Finally, Ridgewood Investments LLC lifted its position in Deere & Company by 2.8% during the third quarter. Ridgewood Investments LLC now owns 3,274 shares of the industrial products company’s stock valued at $552,000 after acquiring an additional 89 shares during the last quarter. 67.53% of the stock is owned by institutional investors.

About Deere & Company

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.

Further Reading: Understanding debt-to-equity ratio in fundamental analysis

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Analyst Recommendations for Deere & Company (NYSE:DE)

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