Deere & Company (NYSE:DE) Given New $460.00 Price Target at JPMorgan Chase & Co.

Deere & Company (NYSE:DE) had its target price decreased by analysts at JPMorgan Chase & Co. from $480.00 to $460.00 in a note issued to investors on Friday,MarketScreener reports. The brokerage presently has a “neutral” rating on the industrial products company’s stock. JPMorgan Chase & Co.‘s price objective points to a potential downside of 3.03% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on the company. Keefe, Bruyette & Woods restated an “outperform” rating on shares of Deere & Company in a report on Monday, December 1st. UBS Group reissued a “buy” rating on shares of Deere & Company in a research report on Tuesday, November 25th. Wells Fargo & Company assumed coverage on Deere & Company in a research note on Thursday, November 13th. They set an “overweight” rating and a $543.00 price objective for the company. Jefferies Financial Group raised their price target on shares of Deere & Company from $440.00 to $475.00 and gave the company a “hold” rating in a research report on Tuesday, December 9th. Finally, Citigroup reduced their price target on shares of Deere & Company from $525.00 to $515.00 and set a “neutral” rating for the company in a research note on Tuesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, Deere & Company has an average rating of “Moderate Buy” and an average price target of $522.70.

Deere & Company Stock Down 0.1%

Shares of NYSE DE opened at $474.35 on Friday. The company has a quick ratio of 2.01, a current ratio of 2.22 and a debt-to-equity ratio of 1.68. The company’s fifty day simple moving average is $470.90 and its 200 day simple moving average is $487.03. The firm has a market cap of $128.23 billion, a PE ratio of 25.69, a P/E/G ratio of 1.81 and a beta of 1.00. Deere & Company has a 12-month low of $403.01 and a 12-month high of $533.78.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Wednesday, November 26th. The industrial products company reported $3.93 earnings per share for the quarter, missing analysts’ consensus estimates of $3.96 by ($0.03). Deere & Company had a return on equity of 20.54% and a net margin of 11.00%.The company had revenue of $12.39 billion during the quarter, compared to analysts’ expectations of $9.77 billion. During the same period last year, the firm posted $4.55 earnings per share. Deere & Company’s quarterly revenue was up 14.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Insider Transactions at Deere & Company

In related news, CEO John C. May II sold 11,106 shares of the company’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $500.08, for a total transaction of $5,553,888.48. Following the sale, the chief executive officer owned 112,453 shares of the company’s stock, valued at $56,235,496.24. This represents a 8.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.29% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Deere & Company

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in Deere & Company by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 22,372,671 shares of the industrial products company’s stock worth $11,376,279,000 after purchasing an additional 309,081 shares during the period. State Street Corp grew its position in Deere & Company by 0.6% during the 2nd quarter. State Street Corp now owns 10,386,268 shares of the industrial products company’s stock worth $5,297,913,000 after purchasing an additional 64,262 shares during the last quarter. Capital World Investors raised its stake in shares of Deere & Company by 5.5% in the third quarter. Capital World Investors now owns 6,233,740 shares of the industrial products company’s stock worth $2,850,687,000 after purchasing an additional 322,582 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Deere & Company by 2.1% in the second quarter. Geode Capital Management LLC now owns 5,541,778 shares of the industrial products company’s stock worth $2,810,807,000 after buying an additional 111,627 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Deere & Company in the 2nd quarter valued at about $1,578,243,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

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.