Deere & Company (NYSE:DE) had its price objective lifted by research analysts at Credit Suisse Group from $198.00 to $231.00 in a research report issued to clients and investors on Tuesday. The brokerage currently has an “outperform” rating on the industrial products company’s stock. Credit Suisse Group’s price target points to a potential upside of 37.84% from the stock’s current price.
A number of other research firms have also recently commented on DE. Jefferies Group restated a “hold” rating and set a $175.00 target price on shares of Deere & Company in a research note on Friday. Zacks Investment Research cut shares of Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday. UBS Group raised their target price on shares of Deere & Company from $150.00 to $175.00 and gave the stock a “neutral” rating in a research note on Tuesday. Citigroup raised their target price on shares of Deere & Company from $165.00 to $200.00 and gave the stock a “buy” rating in a research note on Tuesday, January 16th. Finally, Barclays set a $176.00 target price on shares of Deere & Company and gave the stock an “overweight” rating in a research note on Wednesday, January 24th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and thirteen have given a buy rating to the stock. Deere & Company currently has an average rating of “Hold” and a consensus price target of $168.65.
Shares of Deere & Company (DE) traded down $1.86 during trading hours on Tuesday, hitting $167.58. 804,572 shares of the stock traded hands, compared to its average volume of 2,403,119. Deere & Company has a 52-week low of $106.72 and a 52-week high of $175.26. The company has a quick ratio of 1.69, a current ratio of 1.98 and a debt-to-equity ratio of 2.85. The company has a market cap of $54,770.00, a PE ratio of 25.09, a PEG ratio of 2.50 and a beta of 0.75.
Deere & Company (NYSE:DE) last issued its quarterly earnings data on Friday, February 16th. The industrial products company reported $1.31 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.16 by $0.15. Deere & Company had a net margin of 4.57% and a return on equity of 27.18%. The firm had revenue of $5.97 billion for the quarter, compared to analysts’ expectations of $6.41 billion. During the same quarter in the prior year, the business earned $0.61 EPS. The business’s quarterly revenue was up 27.2% on a year-over-year basis. equities analysts forecast that Deere & Company will post 8.27 earnings per share for the current year.
In related news, insider Cory J. Reed sold 6,416 shares of the firm’s stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $151.54, for a total value of $972,280.64. Following the completion of the transaction, the insider now directly owns 11,383 shares of the company’s stock, valued at $1,724,979.82. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider James M. Field sold 48,427 shares of the firm’s stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $147.98, for a total transaction of $7,166,227.46. The disclosure for this sale can be found here. In the last quarter, insiders have sold 187,603 shares of company stock worth $28,058,143. Company insiders own 0.74% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. LeJeune Puetz Investment Counsel LLC purchased a new position in shares of Deere & Company in the fourth quarter valued at $101,000. Icon Wealth Partners LLC purchased a new position in shares of Deere & Company in the fourth quarter valued at $110,000. Cerebellum GP LLC purchased a new position in shares of Deere & Company in the fourth quarter valued at $132,000. TCI Wealth Advisors Inc. grew its holdings in shares of Deere & Company by 107.3% in the fourth quarter. TCI Wealth Advisors Inc. now owns 885 shares of the industrial products company’s stock valued at $139,000 after purchasing an additional 458 shares in the last quarter. Finally, Wealthcare Advisory Partners LLC purchased a new position in shares of Deere & Company in the third quarter valued at $144,000. 66.24% of the stock is owned by hedge funds and other institutional investors.
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Deere & Company Company Profile
Deere & Company is engaged in equipment operations. The Company is engaged in providing financial services. The Company operates through three business segments: agriculture and turf, construction and forestry, and financial services. The agriculture and turf segment manufactures and distributes a line of agriculture and turf equipment and related service parts.
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