Truist Financial Increases Deere & Company (NYSE:DE) Price Target to $496.00

Deere & Company (NYSE:DE) had its price target boosted by analysts at Truist Financial from $443.00 to $496.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the industrial products company’s stock. Truist Financial’s price objective indicates a potential upside of 22.21% from the stock’s current price.

Several other research firms also recently issued reports on DE. Morgan Stanley cut their price target on Deere & Company from $450.00 to $425.00 and set an “overweight” rating for the company in a research note on Monday, August 26th. 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. Hsbc Global Res downgraded shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 19th. Oppenheimer cut their target price on shares of Deere & Company from $465.00 to $448.00 and set an “outperform” rating for the company in a research note on Monday, July 22nd. Finally, Citigroup cut their target price on shares of Deere & Company from $395.00 to $370.00 and set a “neutral” rating for the company in a research note on Tuesday, August 13th. Twelve analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $416.94.

Deere & Company Stock Performance

NYSE:DE opened at $405.85 on Wednesday. Deere & Company has a 1-year low of $340.20 and a 1-year high of $420.47. The company has a debt-to-equity ratio of 1.85, a current ratio of 2.07 and a quick ratio of 1.87. The firm’s fifty day moving average price is $384.91 and its 200 day moving average price is $385.30. The firm has a market cap of $111.84 billion, a price-to-earnings ratio of 12.22, a price-to-earnings-growth ratio of 1.36 and a beta of 0.92.

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

Institutional Trading of Deere & Company

Institutional investors have recently modified their holdings of the company. True Wealth Design LLC grew its holdings in shares of Deere & Company by 1,180.0% during the 4th 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 during the period. Pineridge Advisors LLC lifted its position in Deere & Company by 725.0% during the 1st quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 58 shares in the last quarter. Fairscale Capital LLC acquired a new position in Deere & Company during the 2nd quarter worth approximately $26,000. Livelsberger Financial Advisory acquired a new position in Deere & Company during the 4th quarter worth approximately $30,000. Finally, Spartan Planning & Wealth Management acquired a new position in Deere & Company during the 4th quarter worth approximately $33,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

About Deere & Company

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.