Deere & Company (NYSE:DE) had its price objective lifted by investment analysts at Citigroup from $165.00 to $200.00 in a research report issued to clients and investors on Tuesday. The brokerage presently has a “buy” rating on the industrial products company’s stock. Citigroup’s price objective points to a potential upside of 18.13% from the company’s current price.
Several other equities research analysts have also recently weighed in on the company. Robert W. Baird reaffirmed a “buy” rating and issued a $185.00 price target on shares of Deere & Company in a research note on Friday. Barclays raised Deere & Company from a “sector perform” rating to an “outperform” rating and set a $171.00 price target on the stock in a research note on Wednesday, January 10th. Wells Fargo & Co reaffirmed an “outperform” rating and issued a $200.00 price target (up from $170.00) on shares of Deere & Company in a research note on Wednesday, January 10th. Royal Bank of Canada raised Deere & Company from a “sector perform” rating to an “outperform” rating and reduced their price target for the stock from $190.00 to $155.00 in a research note on Wednesday, January 10th. Finally, ValuEngine raised Deere & Company from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and fourteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $148.63.
Deere & Company (DE) traded up $1.84 on Tuesday, hitting $169.30. The stock had a trading volume of 2,317,000 shares, compared to its average volume of 2,601,867. The company has a quick ratio of 1.95, a current ratio of 2.12 and a debt-to-equity ratio of 2.71. Deere & Company has a 52-week low of $104.10 and a 52-week high of $170.73. The stock has a market capitalization of $54,310.00, a PE ratio of 25.46, a PEG ratio of 2.56 and a beta of 0.77.
Deere & Company (NYSE:DE) last posted its earnings results on Wednesday, November 22nd. The industrial products company reported $1.57 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.47 by $0.10. Deere & Company had a return on equity of 26.31% and a net margin of 7.22%. The firm had revenue of $7.09 billion for the quarter, compared to analysts’ expectations of $6.91 billion. During the same period in the previous year, the firm earned $0.90 earnings per share. The business’s revenue was up 25.6% compared to the same quarter last year. analysts forecast that Deere & Company will post 8.06 earnings per share for the current fiscal year.
In other news, insider John C. May II sold 18,626 shares of the company’s stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $130.76, for a total transaction of $2,435,535.76. Following the transaction, the insider now directly owns 37,462 shares of the company’s stock, valued at $4,898,531.12. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Mary K.W. Jones sold 10,220 shares of the company’s stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $165.06, for a total value of $1,686,913.20. The disclosure for this sale can be found here. Insiders sold 212,767 shares of company stock worth $30,215,798 over the last three months. Corporate insiders own 0.75% of the company’s stock.
Large investors have recently made changes to their positions in the company. QCI Asset Management Inc. NY lifted its holdings in shares of Deere & Company by 18.8% during the second quarter. QCI Asset Management Inc. NY now owns 950 shares of the industrial products company’s stock valued at $117,000 after purchasing an additional 150 shares in the last quarter. Wealthcare Advisory Partners LLC bought a new position in shares of Deere & Company during the third quarter valued at $144,000. Harfst & Associates Inc. lifted its holdings in shares of Deere & Company by 44.2% during the second quarter. Harfst & Associates Inc. now owns 1,175 shares of the industrial products company’s stock valued at $145,000 after purchasing an additional 360 shares in the last quarter. YorkBridge Wealth Partners LLC lifted its holdings in shares of Deere & Company by 1.1% during the second quarter. YorkBridge Wealth Partners LLC now owns 1,236 shares of the industrial products company’s stock valued at $154,000 after purchasing an additional 13 shares in the last quarter. Finally, San Francisco Sentry Investment Group CA bought a new position in shares of Deere & Company during the second quarter valued at $155,000. 67.37% of the stock is currently owned by hedge funds and other institutional investors.
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Deere & Company Company Profile
Deere & Company is engaged in equipment operations. The Company is engaged in providing financial services. The Company operates through three business segments: agriculture and turf, construction and forestry, and financial services. The agriculture and turf segment manufactures and distributes a line of agriculture and turf equipment and related service parts.