Deere & Company (NYSE:DE) Price Target Raised to $455.00 at Evercore ISI

Deere & Company (NYSE:DE) had its price objective lifted by analysts at Evercore ISI from $437.00 to $455.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has an “in-line” rating on the industrial products company’s stock. Evercore ISI’s price target suggests a potential downside of 10.20% from the stock’s previous close.

Other analysts have also recently issued reports about the company. Truist Financial reiterated a “buy” rating and set a $546.00 price target (down from $550.00) on shares of Deere & Company in a research report on Friday, February 14th. JPMorgan Chase & Co. boosted their price target on shares of Deere & Company from $470.00 to $500.00 and gave the company a “neutral” rating in a report on Monday, February 10th. Oppenheimer increased their price objective on shares of Deere & Company from $477.00 to $507.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. Morgan Stanley boosted their target price on shares of Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a research note on Monday, November 25th. Finally, UBS Group boosted their price objective on Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Eleven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Deere & Company currently has a consensus rating of “Hold” and an average price target of $454.65.

Deere & Company Trading Up 1.0 %

DE traded up $5.10 on Wednesday, reaching $506.66. 389,673 shares of the company’s stock were exchanged, compared to its average volume of 1,420,438. Deere & Company has a twelve month low of $340.20 and a twelve month high of $505.08. The company’s 50 day moving average is $448.71 and its 200-day moving average is $418.73. The company has a market cap of $137.99 billion, a price-to-earnings ratio of 22.46, a PEG ratio of 2.96 and a beta of 0.98. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.98 and a current ratio of 2.22.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, February 13th. The industrial products company reported $3.19 EPS for the quarter, beating the consensus estimate of $3.14 by $0.05. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. Equities analysts predict that Deere & Company will post 19.35 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in DE. Wellington Management Group LLP raised its stake in shares of Deere & Company by 32.0% in the 3rd quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company’s stock valued at $3,068,404,000 after purchasing an additional 1,782,984 shares during the period. Price T Rowe Associates Inc. MD raised its position in Deere & Company by 19.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,589,760 shares of the industrial products company’s stock valued at $2,792,082,000 after buying an additional 1,095,736 shares during the last quarter. Capital World Investors grew its stake in shares of Deere & Company by 2.7% during the 4th quarter. Capital World Investors now owns 6,058,259 shares of the industrial products company’s stock worth $2,566,884,000 after acquiring an additional 157,224 shares in the last quarter. FMR LLC boosted its holdings in Deere & Company by 22.9% during the fourth quarter. FMR LLC now owns 5,581,408 shares of the industrial products company’s stock worth $2,364,843,000 after purchasing an additional 1,039,395 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in Deere & Company by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 5,305,571 shares of the industrial products company’s stock worth $2,247,216,000 after buying an additional 97,203 shares during the last quarter. Institutional investors and hedge funds 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.