Deere & Company (NYSE:DE) Stock Price Expected to Rise, Oppenheimer Analyst Says

Deere & Company (NYSE:DE) had its target price boosted by stock analysts at Oppenheimer from $512.00 to $531.00 in a report issued on Friday, MarketBeat reports. The firm currently has an “outperform” rating on the industrial products company’s stock. Oppenheimer’s price target suggests a potential upside of 13.96% from the stock’s current price.

Other research analysts have also issued reports about the stock. Zacks Research lowered shares of Deere & Company from a “hold” rating to a “strong sell” rating in a research report on Monday, October 20th. DA Davidson decreased their price objective on shares of Deere & Company from $595.00 to $580.00 and set a “buy” rating for the company in a research note on Monday, August 18th. Evercore ISI dropped their target price on shares of Deere & Company from $491.00 to $487.00 in a research report on Monday, November 17th. Weiss Ratings restated a “hold (c+)” rating on shares of Deere & Company in a research note on Monday, November 24th. Finally, Sanford C. Bernstein upped their target price on Deere & Company from $487.00 to $521.00 and gave the company a “market perform” rating in a report on Thursday, November 13th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $519.45.

Deere & Company Stock Down 0.8%

DE stock opened at $465.95 on Friday. Deere & Company has a twelve month low of $403.01 and a twelve month high of $533.78. The company has a quick ratio of 1.98, a current ratio of 2.19 and a debt-to-equity ratio of 1.76. The stock’s 50 day moving average is $467.10 and its 200-day moving average is $490.53. The firm has a market capitalization of $125.96 billion, a PE ratio of 24.36, a P/E/G ratio of 3.05 and a beta of 1.04.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Wednesday, November 26th. The industrial products company reported $3.93 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.96 by ($0.03). Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The company had revenue of $12.39 billion for the quarter, compared to the consensus estimate of $9.77 billion. During the same quarter last year, the company posted $4.55 EPS. The company’s quarterly revenue was up 14.1% compared to the same quarter last year. Sell-side analysts expect that Deere & Company will post 19.32 EPS for the current fiscal year.

Insider Buying and Selling

In other Deere & Company news, CEO John C. May II sold 11,106 shares of the stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $500.08, for a total transaction of $5,553,888.48. Following the completion of the transaction, the chief executive officer directly owned 112,453 shares of the company’s stock, valued at approximately $56,235,496.24. This represents a 8.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.29% of the company’s stock.

Institutional Investors Weigh In On Deere & Company

Several institutional investors have recently made changes to their positions in DE. Brighton Jones LLC grew its holdings in Deere & Company by 39.1% during the 4th quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company’s stock valued at $1,927,000 after buying an additional 1,278 shares in the last quarter. Vestcor Inc boosted its position in shares of Deere & Company by 5.8% in the first quarter. Vestcor Inc now owns 5,012 shares of the industrial products company’s stock valued at $2,352,000 after acquiring an additional 273 shares during the period. Harbour Investments Inc. boosted its position in shares of Deere & Company by 7.0% in the first quarter. Harbour Investments Inc. now owns 6,018 shares of the industrial products company’s stock valued at $2,824,000 after acquiring an additional 396 shares during the period. Bank of Jackson Hole Trust grew its stake in Deere & Company by 1.8% during the first quarter. Bank of Jackson Hole Trust now owns 1,322 shares of the industrial products company’s stock valued at $636,000 after acquiring an additional 24 shares in the last quarter. Finally, Baker Avenue Asset Management LP increased its holdings in Deere & Company by 1.6% during the 1st quarter. Baker Avenue Asset Management LP now owns 10,609 shares of the industrial products company’s stock worth $4,979,000 after acquiring an additional 165 shares during the period. Hedge funds and other institutional investors 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.