Evercore ISI Issues Pessimistic Forecast for Deere & Company (NYSE:DE) Stock Price

Deere & Company (NYSE:DE) had its price target dropped by equities research analysts at Evercore ISI from $487.00 to $458.00 in a report issued on Friday, Marketbeat Ratings reports. The brokerage currently has an “in-line” rating on the industrial products company’s stock. Evercore ISI’s price objective would suggest a potential downside of 1.71% from the stock’s current price.

A number of other analysts have also recently commented on the company. Wolfe Research dropped their price objective on Deere & Company from $550.00 to $520.00 and set an “outperform” rating for the company in a research report on Friday, October 3rd. UBS Group reaffirmed a “buy” rating on shares of Deere & Company in a research note on Tuesday. Truist Financial boosted their price objective on shares of Deere & Company from $609.00 to $612.00 and gave the company a “buy” rating in a research report on Friday. Citigroup reduced their price objective on shares of Deere & Company from $525.00 to $515.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 7th. Finally, Oppenheimer lifted their target price on shares of Deere & Company from $512.00 to $531.00 and gave the stock an “outperform” rating in a research note on Friday. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $519.45.

Deere & Company Stock Down 0.8%

DE stock opened at $465.95 on Friday. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.19 and a quick ratio of 1.98. The company’s 50 day simple moving average is $467.10 and its 200-day simple moving average is $490.53. Deere & Company has a 12 month low of $403.01 and a 12 month high of $533.78. 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 posted its earnings results on Wednesday, November 26th. The industrial products company reported $3.93 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.96 by ($0.03). The company had revenue of $12.39 billion during the quarter, compared to analysts’ expectations of $9.77 billion. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. Deere & Company’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same period in the previous year, the company posted $4.55 EPS. Equities analysts expect that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Deere & Company by 1.4% during the second quarter. Vanguard Group Inc. now owns 22,372,671 shares of the industrial products company’s stock valued at $11,376,279,000 after purchasing an additional 309,081 shares during the period. State Street Corp grew its holdings in Deere & Company by 0.6% during the 2nd quarter. State Street Corp now owns 10,386,268 shares of the industrial products company’s stock valued at $5,297,913,000 after purchasing an additional 64,262 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Deere & Company by 4.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,876,013 shares of the industrial products company’s stock worth $3,227,258,000 after buying an additional 286,253 shares during the period. Capital World Investors lifted its holdings in Deere & Company by 5.5% in the 3rd quarter. Capital World Investors now owns 6,233,740 shares of the industrial products company’s stock worth $2,850,687,000 after buying an additional 322,582 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in Deere & Company by 2.1% in the 2nd quarter. Geode Capital Management LLC now owns 5,541,778 shares of the industrial products company’s stock valued at $2,810,807,000 after buying an additional 111,627 shares during the last quarter. 68.58% of the stock is 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.