Deere & Company (NYSE:DE) Coverage Initiated by Analysts at Wells Fargo & Company

Equities research analysts at Wells Fargo & Company assumed coverage on shares of Deere & Company (NYSE:DE) in a research report issued on Thursday, Marketbeat reports. The brokerage set an “overweight” rating on the industrial products company’s stock.

Several other equities analysts have also issued reports on the company. Sanford C. Bernstein boosted their target price on Deere & Company from $487.00 to $521.00 and gave the stock a “market perform” rating in a research report on Thursday. Zacks Research downgraded shares of Deere & Company from a “hold” rating to a “strong sell” rating in a research note on Monday, October 20th. Robert W. Baird reduced their target price on Deere & Company from $488.00 to $467.00 and set a “neutral” rating on the stock in a report on Monday, October 13th. Oppenheimer lowered their price target on Deere & Company from $566.00 to $512.00 and set an “outperform” rating for the company in a report on Thursday, September 18th. Finally, Daiwa Capital Markets dropped their price objective on shares of Deere & Company from $565.00 to $530.00 and set an “outperform” rating on the stock in a report on Thursday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $520.05.

Deere & Company Trading Up 0.5%

Shares of DE stock traded up $2.35 during trading hours on Thursday, reaching $475.76. The company had a trading volume of 1,180,126 shares, compared to its average volume of 1,350,354. Deere & Company has a 1-year low of $390.00 and a 1-year high of $533.78. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.19 and a quick ratio of 1.98. The firm has a market cap of $128.61 billion, a price-to-earnings ratio of 24.87, a P/E/G ratio of 3.05 and a beta of 1.04. The company has a 50 day moving average of $466.04 and a 200 day moving average of $490.68.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 EPS for the quarter, topping analysts’ consensus estimates of $4.62 by $0.13. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The business had revenue of $10.36 billion during the quarter, compared to analysts’ expectations of $10.33 billion. During the same period in the previous year, the firm earned $6.29 earnings per share. The firm’s quarterly revenue was down 9.0% compared to the same quarter last year. On average, equities research analysts anticipate that Deere & Company will post 19.32 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Mid American Wealth Advisory Group Inc. acquired a new position in shares of Deere & Company during the 2nd quarter worth about $25,000. Howard Hughes Medical Institute acquired a new position in Deere & Company during the second quarter worth approximately $27,000. Activest Wealth Management raised its stake in Deere & Company by 2,750.0% in the first quarter. Activest Wealth Management now owns 57 shares of the industrial products company’s stock valued at $27,000 after buying an additional 55 shares during the period. Wealth Watch Advisors INC acquired a new stake in shares of Deere & Company in the third quarter valued at approximately $32,000. Finally, Marshall & Sullivan Inc. WA acquired a new stake in shares of Deere & Company in the second quarter valued at approximately $38,000. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Company Profile

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.