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

Deere & Company (NYSE:DE) had its target price boosted by analysts at Morgan Stanley from $450.00 to $500.00 in a report released on Wednesday, Marketbeat reports. The brokerage presently has an “overweight” rating on the industrial products company’s stock. Morgan Stanley’s price objective suggests a potential upside of 10.61% from the stock’s previous close.

Several other research firms have also commented on DE. Citigroup dropped their price target on shares of Deere & Company from $480.00 to $450.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 8th. JPMorgan Chase & Co. upped their price objective on shares of Deere & Company from $470.00 to $500.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. UBS Group dropped their target price on shares of Deere & Company from $462.00 to $440.00 and set a “neutral” rating on the stock in a research report on Monday, April 7th. Baird R W lowered shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 3rd. Finally, Robert W. Baird reiterated a “neutral” rating and set a $501.00 price objective on shares of Deere & Company in a research note on Monday, March 3rd. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $459.89.

Deere & Company Trading Down 0.1 %

Deere & Company stock opened at $452.06 on Wednesday. Deere & Company has a 52 week low of $340.20 and a 52 week high of $515.05. The stock has a 50-day moving average price of $470.23 and a 200 day moving average price of $444.28. The company has a quick ratio of 1.98, a current ratio of 2.22 and a debt-to-equity ratio of 1.94. The company has a market capitalization of $122.70 billion, a price-to-earnings ratio of 20.04, a price-to-earnings-growth ratio of 2.14 and a beta of 1.00.

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 net margin of 12.94% and a return on equity of 27.31%. Sell-side analysts anticipate that Deere & Company will post 19.32 EPS for the current year.

Insider Buying and Selling at Deere & Company

In other Deere & Company news, insider Rajesh Kalathur sold 24,580 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $500.61, for a total value of $12,304,993.80. Following the sale, the insider now owns 74,878 shares of the company’s stock, valued at $37,484,675.58. This represents a 24.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.29% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Deere & Company

A number of institutional investors have recently made changes to their positions in DE. Pineridge Advisors LLC raised its stake in Deere & Company by 60.5% in the 4th quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 26 shares during the last quarter. Modus Advisors LLC acquired a new stake in shares of Deere & Company in the fourth quarter worth approximately $32,000. YANKCOM Partnership acquired a new position in Deere & Company during the fourth quarter worth approximately $34,000. Orion Capital Management LLC acquired a new position in Deere & Company during the fourth quarter worth approximately $34,000. Finally, Synergy Asset Management LLC purchased a new position in Deere & Company during the fourth quarter worth approximately $35,000. 68.58% of the stock is owned by institutional investors and hedge funds.

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.