Deere & Company (NYSE:DE) Price Target Raised to $752.00

Deere & Company (NYSE:DE) had its price objective upped by analysts at Royal Bank Of Canada from $736.00 to $752.00 in a research report issued on Tuesday,MarketScreener reports. The brokerage presently has an “outperform” rating on the industrial products company’s stock. Royal Bank Of Canada’s price objective would suggest a potential upside of 41.32% from the company’s previous close.

A number of other research firms also recently issued reports on DE. Bank of America reduced their price target on shares of Deere & Company from $672.00 to $607.50 and set a “neutral” rating for the company in a research report on Friday. Wolfe Research boosted their target price on Deere & Company from $550.00 to $660.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 31st. Raymond James Financial lowered their target price on Deere & Company from $765.00 to $700.00 and set an “outperform” rating on the stock in a report on Friday. JPMorgan Chase & Co. raised their price target on Deere & Company from $550.00 to $560.00 and gave the company a “neutral” rating in a research report on Friday. Finally, Citigroup cut their price target on Deere & Company from $625.00 to $595.00 and set a “neutral” rating for the company in a research note on Friday. Fifteen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $639.83.

Deere & Company Trading Up 0.6%

NYSE:DE opened at $532.13 on Tuesday. The stock has a fifty day moving average price of $575.37 and a two-hundred day moving average price of $540.79. The stock has a market capitalization of $143.73 billion, a price-to-earnings ratio of 30.15, a PEG ratio of 1.85 and a beta of 0.96. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.96 and a current ratio of 2.18. Deere & Company has a 1 year low of $433.00 and a 1 year high of $674.19.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, May 21st. The industrial products company reported $6.55 EPS for the quarter, topping the consensus estimate of $5.70 by $0.85. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The company had revenue of $11.78 billion for the quarter, compared to analyst estimates of $11.55 billion. During the same period in the previous year, the firm earned $6.64 EPS. The business’s revenue was up 5.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Deere & Company will post 18.05 earnings per share for the current fiscal year.

Institutional Trading of Deere & Company

A number of hedge funds have recently added to or reduced their stakes in the business. Spectrum Financial Alliance Ltd LLC lifted its holdings in shares of Deere & Company by 55.8% during the 4th quarter. Spectrum Financial Alliance Ltd LLC now owns 85,351 shares of the industrial products company’s stock valued at $39,737,000 after acquiring an additional 30,553 shares in the last quarter. Compagnie Lombard Odier SCmA increased its holdings in Deere & Company by 66.1% in the 3rd quarter. Compagnie Lombard Odier SCmA now owns 27,568 shares of the industrial products company’s stock valued at $12,606,000 after purchasing an additional 10,974 shares in the last quarter. Public Sector Pension Investment Board raised its position in Deere & Company by 14.6% in the third quarter. Public Sector Pension Investment Board now owns 21,174 shares of the industrial products company’s stock valued at $9,682,000 after purchasing an additional 2,702 shares during the period. Ashton Thomas Private Wealth LLC raised its position in Deere & Company by 263.8% in the third quarter. Ashton Thomas Private Wealth LLC now owns 17,308 shares of the industrial products company’s stock valued at $7,942,000 after purchasing an additional 12,551 shares during the period. Finally, Eubel Brady & Suttman Asset Management Inc. acquired a new position in shares of Deere & Company during the third quarter worth about $434,000. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Company Profile

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.