Deere & Company (NYSE:DE) Price Target Raised to $380.00


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Deere & Company (NYSE:DE) had its price objective upped by equities research analysts at Argus from $280.00 to $380.00 in a research report issued to clients and investors on Tuesday, The Fly reports. The firm currently has a “buy” rating on the industrial products company’s stock. Argus’ price objective would indicate a potential upside of 12.59% from the stock’s previous close.

DE has been the subject of several other reports. Royal Bank of Canada upped their target price on Deere & Company from $252.00 to $280.00 and gave the company an “outperform” rating in a report on Friday, November 27th. Vertical Research assumed coverage on Deere & Company in a report on Wednesday, January 20th. They issued a “buy” rating and a $345.00 target price for the company. UBS Group upped their target price on Deere & Company from $255.00 to $267.00 and gave the company a “neutral” rating in a report on Monday, November 30th. BMO Capital Markets upped their target price on Deere & Company from $300.00 to $400.00 and gave the company an “outperform” rating in a report on Monday, January 25th. Finally, Oppenheimer upped their target price on Deere & Company from $331.00 to $380.00 and gave the company an “outperform” rating in a report on Monday. Five analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $309.80.

Shares of DE opened at $337.51 on Tuesday. The company has a debt-to-equity ratio of 2.53, a quick ratio of 2.03 and a current ratio of 2.24. The stock has a 50 day moving average price of $302.15 and a two-hundred day moving average price of $251.20. The firm has a market capitalization of $106.12 billion, a P/E ratio of 38.79, a P/E/G ratio of 1.43 and a beta of 0.96. Deere & Company has a 52 week low of $106.14 and a 52 week high of $338.55.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, February 18th. The industrial products company reported $3.87 EPS for the quarter, topping analysts’ consensus estimates of $2.17 by $1.70. The firm had revenue of $8.05 billion during the quarter, compared to analyst estimates of $7.12 billion. Deere & Company had a return on equity of 22.17% and a net margin of 7.74%. The company’s revenue for the quarter was up 23.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.63 EPS. On average, equities analysts forecast that Deere & Company will post 13.09 earnings per share for the current year.

In other Deere & Company news, CAO Marc A. Howze sold 20,467 shares of the stock in a transaction on Thursday, December 3rd. The stock was sold at an average price of $258.49, for a total transaction of $5,290,514.83. Following the sale, the chief accounting officer now owns 22,787 shares in the company, valued at $5,890,211.63. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Marc A. Howze sold 14,619 shares of the stock in a transaction on Wednesday, January 6th. The stock was sold at an average price of $289.00, for a total value of $4,224,891.00. Following the sale, the chief accounting officer now owns 35,920 shares in the company, valued at approximately $10,380,880. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 121,468 shares of company stock worth $31,836,175. Company insiders own 0.70% of the company’s stock.

Several large investors have recently bought and sold shares of DE. Klaas Financial Asset Advisors LLC purchased a new stake in shares of Deere & Company in the fourth quarter worth $26,000. Syverson Strege & Co purchased a new stake in shares of Deere & Company in the fourth quarter worth $28,000. Leelyn Smith LLC raised its position in shares of Deere & Company by 2,500.0% in the fourth quarter. Leelyn Smith LLC now owns 104 shares of the industrial products company’s stock worth $28,000 after buying an additional 100 shares in the last quarter. Clearview Wealth Advisors LLC purchased a new stake in shares of Deere & Company in the fourth quarter worth $32,000. Finally, McCarthy Asset Management Inc. purchased a new stake in shares of Deere & Company in the fourth quarter worth $34,000. Hedge funds and other institutional investors own 66.77% of the company’s stock.

Deere & Company Company Profile

Deere & Company, together with its subsidiaries, manufactures and distributes various equipment worldwide. The company operates through three segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment provides various agriculture and turf equipment, and related service parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; tillage, seeding, and application equipment comprising sprayers, nutrient management, and soil preparation machinery; self-propelled forage harvesters and attachments, balers, and mowers; riding lawn equipment, golf course equipment, utility vehicles, and commercial mowing equipment along with associated implements; integrated agricultural solutions and precision technologies; and other outdoor power products.

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