Citigroup Increases Deere & Company (NYSE:DE) Price Target to $420.00

Deere & Company (NYSE:DE) had its price objective lifted by research analysts at Citigroup from $395.00 to $420.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the industrial products company’s stock. Citigroup’s price objective suggests a potential upside of 3.49% from the stock’s current price.

A number of other research firms also recently commented on DE. Bank of America lifted their price target on Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a research note on Friday, August 16th. BMO Capital Markets assumed coverage on shares of Deere & Company in a report on Friday, August 9th. They issued a “market perform” rating and a $400.00 target price on the stock. JPMorgan Chase & Co. cut their target price on shares of Deere & Company from $375.00 to $360.00 and set a “neutral” rating on the stock in a report on Tuesday, August 13th. HSBC cut shares of Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, August 19th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a report on Thursday, August 8th. Twelve research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Deere & Company presently has a consensus rating of “Hold” and an average target price of $416.94.

Deere & Company Stock Up 0.1 %

Shares of NYSE DE opened at $405.85 on Wednesday. Deere & Company has a 12-month low of $340.20 and a 12-month high of $420.47. The company has a market cap of $111.84 billion, a P/E ratio of 12.21, a P/E/G ratio of 1.36 and a beta of 0.92. The company has a current ratio of 2.07, a quick ratio of 1.87 and a debt-to-equity ratio of 1.85. The stock has a fifty day moving average price of $384.91 and a 200 day moving average price of $385.30.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.63 by $0.66. The firm had revenue of $11.39 billion during the quarter, compared to the consensus estimate of $10.94 billion. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The firm’s quarterly revenue was down 20.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $10.20 EPS. Research analysts anticipate that Deere & Company will post 25.03 EPS for the current fiscal year.

Hedge Funds Weigh In On Deere & Company

Institutional investors and hedge funds have recently modified their holdings of the stock. True Wealth Design LLC boosted its holdings in Deere & Company by 1,180.0% in the fourth quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 59 shares in the last quarter. Vivaldi Capital Management LP boosted its holdings in Deere & Company by 11.8% in the fourth quarter. Vivaldi Capital Management LP now owns 652 shares of the industrial products company’s stock worth $247,000 after purchasing an additional 69 shares in the last quarter. LM Advisors LLC bought a new stake in Deere & Company in the fourth quarter worth $347,000. Kestra Advisory Services LLC boosted its holdings in Deere & Company by 0.5% in the fourth quarter. Kestra Advisory Services LLC now owns 75,723 shares of the industrial products company’s stock worth $30,279,000 after purchasing an additional 412 shares in the last quarter. Finally, Appian Way Asset Management LP boosted its holdings in Deere & Company by 148.0% in the fourth quarter. Appian Way Asset Management LP now owns 4,800 shares of the industrial products company’s stock worth $1,919,000 after purchasing an additional 14,800 shares in the last quarter. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Company Profile

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.