Daiwa Capital Markets Lowers Deere & Company (NYSE:DE) Price Target to $520.00

Deere & Company (NYSE:DE) had its target price reduced by investment analysts at Daiwa Capital Markets from $530.00 to $520.00 in a research report issued on Tuesday,MarketScreener reports. The brokerage currently has an “outperform” rating on the industrial products company’s stock. Daiwa Capital Markets’ price target indicates a potential upside of 10.47% from the stock’s current price.

Several other brokerages have also issued reports on DE. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Deere & Company in a report on Monday, November 24th. Zacks Research cut Deere & Company from a “hold” rating to a “strong sell” rating in a research report on Monday, October 20th. JPMorgan Chase & Co. dropped their price target on Deere & Company from $495.00 to $480.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 14th. Wells Fargo & Company started coverage on Deere & Company in a research note on Thursday, November 13th. They issued an “overweight” rating and a $543.00 price objective for the company. Finally, UBS Group restated a “buy” rating on shares of Deere & Company in a research report on Tuesday, November 25th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $518.95.

Deere & Company Stock Performance

Shares of Deere & Company stock opened at $470.71 on Tuesday. The company has a quick ratio of 1.98, a current ratio of 2.19 and a debt-to-equity ratio of 1.76. Deere & Company has a 52 week low of $403.01 and a 52 week high of $533.78. The firm’s 50 day moving average is $467.07 and its two-hundred day moving average is $490.14. The firm has a market capitalization of $127.25 billion, a P/E ratio of 24.61, a P/E/G ratio of 3.05 and a beta of 1.04.

Deere & Company (NYSE:DE) last issued its earnings results on Wednesday, November 26th. The industrial products company reported $3.93 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.96 by ($0.03). The company had revenue of $12.39 billion during the quarter, compared to analyst estimates of $9.77 billion. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The company’s quarterly revenue was up 14.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.55 EPS. Research analysts forecast that Deere & Company will post 19.32 EPS for the current fiscal year.

Insider Transactions at Deere & Company

In other news, CEO John C. May II sold 11,106 shares of the firm’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $500.08, for a total value of $5,553,888.48. Following the completion of the sale, the chief executive officer owned 112,453 shares in the company, valued at approximately $56,235,496.24. This trade represents a 8.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.29% of the company’s stock.

Institutional Trading of Deere & Company

Several hedge funds and other institutional investors have recently made changes to their positions in DE. Mid American Wealth Advisory Group Inc. acquired a new stake in Deere & Company in the second quarter valued at about $25,000. Strategic Advocates LLC purchased a new position in shares of Deere & Company during the 3rd quarter worth approximately $25,000. Activest Wealth Management raised its stake in shares of Deere & Company by 2,750.0% during the 1st quarter. Activest Wealth Management now owns 57 shares of the industrial products company’s stock worth $27,000 after buying an additional 55 shares in the last quarter. Howard Hughes Medical Institute purchased a new stake in shares of Deere & Company in the second quarter valued at approximately $27,000. Finally, Wealth Watch Advisors INC purchased a new stake in shares of Deere & Company in the third quarter valued at approximately $32,000. Hedge funds and other institutional investors 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.