Deere & Company (NYSE:DE) Given New $759.00 Price Target at Truist Financial

Deere & Company (NYSE:DE) had its price target cut by investment analysts at Truist Financial from $793.00 to $759.00 in a note issued to investors on Tuesday,MarketScreener reports. The firm currently has a “buy” rating on the industrial products company’s stock. Truist Financial’s target price indicates a potential upside of 42.63% from the company’s current price.

DE has been the topic of a number of other reports. Weiss Ratings raised Deere & Company from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday. UBS Group increased their target price on shares of Deere & Company from $535.00 to $775.00 and gave the company a “buy” rating in a research report on Friday, February 20th. BMO Capital Markets raised their target price on shares of Deere & Company from $460.00 to $500.00 and gave the company a “market perform” rating in a research note on Friday, February 20th. Citigroup dropped their price target on shares of Deere & Company from $625.00 to $595.00 and set a “neutral” rating on the stock in a research report on Friday. Finally, Sanford C. Bernstein upped their price target on shares of Deere & Company from $521.00 to $615.00 and gave the stock a “market perform” rating in a research note on Friday, February 20th. Fifteen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $639.83.

Deere & Company Stock Performance

Shares of DE stock opened at $532.13 on Tuesday. Deere & Company has a 12-month low of $433.00 and a 12-month high of $674.19. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.18 and a quick ratio of 1.96. The firm has a market capitalization of $143.73 billion, a price-to-earnings ratio of 30.15, a price-to-earnings-growth ratio of 1.85 and a beta of 0.96. The business has a 50 day simple moving average of $575.37 and a 200 day simple moving average of $540.79.

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

Hedge Funds Weigh In On Deere & Company

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DE. Anchyra Partners LLC raised its stake in Deere & Company by 0.5% during the 1st quarter. Anchyra Partners LLC now owns 3,191 shares of the industrial products company’s stock valued at $1,797,000 after purchasing an additional 17 shares during the period. William B. Walkup & Associates Inc. boosted its position in shares of Deere & Company by 0.6% in the first quarter. William B. Walkup & Associates Inc. now owns 2,908 shares of the industrial products company’s stock worth $1,638,000 after buying an additional 17 shares during the period. Advisortrust Partners LLC grew its holdings in shares of Deere & Company by 2.0% during the first quarter. Advisortrust Partners LLC now owns 914 shares of the industrial products company’s stock valued at $515,000 after buying an additional 18 shares in the last quarter. Cerro Pacific Wealth Advisors LLC raised its position in Deere & Company by 0.6% during the fourth quarter. Cerro Pacific Wealth Advisors LLC now owns 3,179 shares of the industrial products company’s stock valued at $1,480,000 after buying an additional 19 shares during the period. Finally, Hazlett Burt & Watson Inc. lifted its stake in Deere & Company by 2.4% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 816 shares of the industrial products company’s stock worth $379,000 after acquiring an additional 19 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

About Deere & Company

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.