Daiwa Capital Markets Has Lowered Expectations for Deere & Company (NYSE:DE) Stock Price

Deere & Company (NYSE:DE) had its target price lowered by research analysts at Daiwa Capital Markets from $530.00 to $520.00 in a report issued on Tuesday,MarketScreener reports. The brokerage currently has an “outperform” rating on the industrial products company’s stock. Daiwa Capital Markets’ price objective would suggest a potential upside of 7.91% from the stock’s current price.

Several other research analysts have also recently issued reports on the stock. Oppenheimer raised their target price on shares of Deere & Company from $512.00 to $531.00 and gave the stock an “outperform” rating in a report on Friday, November 28th. UBS Group reissued a “buy” rating on shares of Deere & Company in a research report on Tuesday, November 25th. JPMorgan Chase & Co. decreased their price objective on shares of Deere & Company from $495.00 to $480.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 14th. Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of Deere & Company in a report on Monday. Finally, Jefferies Financial Group reduced their price target on Deere & Company from $510.00 to $440.00 and set a “hold” rating on the stock in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $518.95.

Deere & Company Stock Up 2.7%

Shares of NYSE:DE opened at $481.90 on Tuesday. The stock has a market capitalization of $130.27 billion, a P/E ratio of 26.03, a price-to-earnings-growth ratio of 1.71 and a beta of 1.00. The stock’s 50-day moving average price is $467.28 and its 200-day moving average price is $489.64. The company has a current ratio of 2.22, a quick ratio of 2.01 and a debt-to-equity ratio of 1.68. Deere & Company has a 12-month low of $403.01 and a 12-month high of $533.78.

Deere & Company (NYSE:DE) last issued its earnings results on Wednesday, November 26th. The industrial products company reported $3.93 earnings per share for the quarter, missing the consensus estimate of $3.96 by ($0.03). The company had revenue of $12.39 billion for the quarter, compared to analysts’ expectations of $9.77 billion. Deere & Company had a net margin of 11.00% and a return on equity of 20.54%. The company’s revenue was up 14.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.55 earnings per share. On average, equities analysts anticipate that Deere & Company will post 19.32 earnings per share for the current year.

Insider Transactions at Deere & Company

In other Deere & Company news, CEO John C. May II sold 11,106 shares of the firm’s 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 owned 112,453 shares of the company’s stock, valued at approximately $56,235,496.24. This trade represents a 8.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.29% of the company’s stock.

Institutional Trading of Deere & Company

Hedge funds and other institutional investors have recently modified their holdings of the business. Southland Equity Partners LLC lifted its stake in shares of Deere & Company by 3.9% in the second quarter. Southland Equity Partners LLC now owns 534 shares of the industrial products company’s stock valued at $271,000 after buying an additional 20 shares in the last quarter. Vivid Wealth Management LLC increased its position in shares of Deere & Company by 1.9% during the 2nd quarter. Vivid Wealth Management LLC now owns 1,088 shares of the industrial products company’s stock valued at $553,000 after purchasing an additional 20 shares during the last quarter. Werba Rubin Papier Wealth Management boosted its stake in Deere & Company by 3.0% in the second quarter. Werba Rubin Papier Wealth Management now owns 676 shares of the industrial products company’s stock valued at $344,000 after acquiring an additional 20 shares during the last quarter. Prairie Wealth Advisors Inc. increased its position in Deere & Company by 2.1% in the second quarter. Prairie Wealth Advisors Inc. now owns 964 shares of the industrial products company’s stock worth $492,000 after buying an additional 20 shares during the last quarter. Finally, Chicago Partners Investment Group LLC lifted its holdings in Deere & Company by 1.2% during the first quarter. Chicago Partners Investment Group LLC now owns 1,803 shares of the industrial products company’s stock valued at $852,000 after purchasing an additional 21 shares during the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

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.