Oppenheimer Issues Positive Forecast for Deere & Company (NYSE:DE) Stock Price

Deere & Company (NYSE:DE) had its price target hoisted by analysts at Oppenheimer from $510.00 to $513.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the industrial products company’s stock. Oppenheimer’s price objective indicates a potential upside of 13.51% from the company’s previous close.

DE has been the topic of several other reports. JPMorgan Chase & Co. upped 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. Morgan Stanley upped their target price on Deere & Company from $450.00 to $500.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 16th. Robert W. Baird reiterated a “neutral” rating and set a $501.00 price target on shares of Deere & Company in a research report on Monday, March 3rd. StockNews.com lowered Deere & Company from a “hold” rating to a “sell” rating in a research report on Sunday, April 6th. Finally, Baird R W lowered shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Deere & Company currently has a consensus rating of “Hold” and a consensus target price of $460.21.

Deere & Company Stock Up 2.3 %

Deere & Company stock traded up $10.37 during midday trading on Tuesday, hitting $451.93. 108,831 shares of the company’s stock were exchanged, compared to its average volume of 1,420,342. The firm has a 50-day moving average of $469.08 and a two-hundred day moving average of $445.21. Deere & Company has a 12 month low of $340.20 and a 12 month high of $515.05. The company has a market cap of $122.66 billion, a PE ratio of 20.03, a P/E/G ratio of 2.14 and a beta of 1.00. 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 results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.14 by $0.05. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. As a group, analysts expect that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Insider Buying and Selling at Deere & Company

In other news, insider Rajesh Kalathur sold 24,580 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $500.61, for a total value of $12,304,993.80. Following the completion of the sale, the insider now directly owns 74,878 shares in the company, valued at $37,484,675.58. This represents a 24.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.29% of the stock is owned by insiders.

Institutional Trading of Deere & Company

Large investors have recently added to or reduced their stakes in the stock. Everence Capital Management Inc. grew its holdings in shares of Deere & Company by 148.3% in the fourth quarter. Everence Capital Management Inc. now owns 12,223 shares of the industrial products company’s stock valued at $5,179,000 after purchasing an additional 7,300 shares during the period. Compass Financial Services Inc purchased a new stake in shares of Deere & Company in the 4th quarter valued at approximately $254,000. Czech National Bank grew its stake in shares of Deere & Company by 5.7% in the 4th quarter. Czech National Bank now owns 55,170 shares of the industrial products company’s stock valued at $23,376,000 after buying an additional 2,964 shares during the period. Banque Pictet & Cie SA increased its holdings in shares of Deere & Company by 2.0% during the 4th quarter. Banque Pictet & Cie SA now owns 78,274 shares of the industrial products company’s stock worth $33,165,000 after buying an additional 1,500 shares during the last quarter. Finally, Spectrum Financial Alliance Ltd LLC raised its position in shares of Deere & Company by 2.9% during the 4th quarter. Spectrum Financial Alliance Ltd LLC now owns 49,613 shares of the industrial products company’s stock valued at $21,021,000 after buying an additional 1,407 shares during the period. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

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.