Deere & Company (NYSE:DE) Given a $560.00 Price Target by Oppenheimer Analysts

Deere & Company (NYSE:DE) has been given a $560.00 price objective by equities research analysts at Oppenheimer in a research report issued on Tuesday, Marketbeat reports. The brokerage currently has an “outperform” rating on the industrial products company’s stock. Oppenheimer’s price objective would indicate a potential upside of 11.30% from the stock’s previous close.

Other analysts also recently issued reports about the stock. Citigroup dropped their price objective on shares of Deere & Company from $550.00 to $525.00 and set a “neutral” rating on the stock in a report on Friday, May 30th. Evercore ISI upped their price objective on shares of Deere & Company from $455.00 to $493.00 and gave the company an “in-line” rating in a report on Monday, May 19th. BMO Capital Markets reissued a “market perform” rating and set a $460.00 price target (up from $425.00) on shares of Deere & Company in a report on Wednesday, May 21st. Bank of America increased their price target on shares of Deere & Company from $495.00 to $556.00 and gave the stock a “neutral” rating in a report on Friday, May 16th. Finally, Morgan Stanley increased their price target on shares of Deere & Company from $450.00 to $500.00 and gave the stock an “overweight” rating in a report on Wednesday, April 16th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Deere & Company currently has a consensus rating of “Hold” and an average target price of $515.50.

Deere & Company Stock Performance

NYSE:DE traded down $0.34 during trading hours on Tuesday, hitting $503.13. 212,425 shares of the company were exchanged, compared to its average volume of 1,342,481. The stock has a market capitalization of $136.26 billion, a price-to-earnings ratio of 24.34, a PEG ratio of 3.22 and a beta of 1.08. Deere & Company has a 52-week low of $340.20 and a 52-week high of $533.78. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.11 and a quick ratio of 1.89. The company’s 50 day moving average price is $511.79 and its 200-day moving average price is $479.40.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share for the quarter, topping the consensus estimate of $5.72 by $0.92. The company had revenue of $11.17 billion for the quarter, compared to the consensus estimate of $10.80 billion. Deere & Company had a net margin of 12.40% and a return on equity of 24.39%. Deere & Company’s revenue was down 17.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $8.53 EPS. As a group, research analysts forecast that Deere & Company will post 19.32 earnings per share for the current year.

Institutional Investors Weigh In On Deere & Company

A number of hedge funds have recently modified their holdings of DE. Essex Financial Services Inc. increased its position in shares of Deere & Company by 1.5% during the second quarter. Essex Financial Services Inc. now owns 7,666 shares of the industrial products company’s stock valued at $3,898,000 after acquiring an additional 116 shares during the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH increased its position in shares of Deere & Company by 3,651.5% during the second quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 11,142 shares of the industrial products company’s stock valued at $5,666,000 after acquiring an additional 10,845 shares during the last quarter. Sylvest Advisors LLC increased its position in shares of Deere & Company by 2.2% during the second quarter. Sylvest Advisors LLC now owns 1,060 shares of the industrial products company’s stock valued at $539,000 after acquiring an additional 23 shares during the last quarter. Harrell Investment Partners LLC acquired a new stake in shares of Deere & Company during the second quarter valued at about $702,000. Finally, Clarus Group Inc. acquired a new stake in shares of Deere & Company during the second quarter valued at about $259,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

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.