Truist Financial Issues Pessimistic Forecast for Deere & Company (NYSE:DE) Stock Price

Deere & Company (NYSE:DE) had its price target cut by stock analysts at Truist Financial from $619.00 to $602.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the industrial products company’s stock. Truist Financial’s target price suggests a potential upside of 23.19% from the stock’s previous close.

Other equities research analysts have also issued research reports about the company. Evercore ISI increased their price target on Deere & Company from $455.00 to $493.00 and gave the stock an “in-line” rating in a research note on Monday, May 19th. Citigroup dropped their price objective on shares of Deere & Company from $550.00 to $525.00 and set a “neutral” rating for the company in a report on Friday, May 30th. Melius Research raised shares of Deere & Company from a “hold” rating to a “strong-buy” rating in a report on Friday, June 6th. The Goldman Sachs Group reissued a “buy” rating on shares of Deere & Company in a report on Thursday, May 15th. Finally, BMO Capital Markets reissued a “market perform” rating and set a $460.00 price objective (up previously from $425.00) on shares of Deere & Company in a report on Wednesday, May 21st. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Deere & Company has an average rating of “Hold” and a consensus target price of $521.47.

Deere & Company Trading Up 2.1%

Shares of DE stock opened at $488.68 on Friday. Deere & Company has a 52-week low of $371.16 and a 52-week high of $533.78. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.89 and a current ratio of 2.19. The firm has a market capitalization of $132.35 billion, a PE ratio of 25.55, a PEG ratio of 3.10 and a beta of 1.06. The stock has a fifty day simple moving average of $511.18 and a two-hundred day simple moving average of $489.97.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.62 by $0.13. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%. The business had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.33 billion. During the same quarter in the prior year, the business posted $6.29 EPS. Deere & Company’s revenue for the quarter was down 9.0% compared to the same quarter last year. On average, analysts predict that Deere & Company will post 19.32 EPS for the current fiscal year.

Institutional Trading of Deere & Company

Institutional investors have recently added to or reduced their stakes in the company. Brighton Jones LLC increased its position in shares of Deere & Company by 39.1% during the fourth quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company’s stock worth $1,927,000 after acquiring an additional 1,278 shares during the period. Jump Financial LLC purchased a new position in shares of Deere & Company during the fourth quarter worth approximately $2,053,000. NewEdge Advisors LLC increased its position in shares of Deere & Company by 6.7% during the fourth quarter. NewEdge Advisors LLC now owns 19,139 shares of the industrial products company’s stock worth $8,109,000 after acquiring an additional 1,197 shares during the period. Farringdon Capital Ltd. purchased a new position in shares of Deere & Company during the fourth quarter worth approximately $355,000. Finally, Canada Pension Plan Investment Board increased its position in shares of Deere & Company by 11.3% during the fourth quarter. Canada Pension Plan Investment Board now owns 18,942 shares of the industrial products company’s stock worth $8,026,000 after acquiring an additional 1,923 shares during the period. Institutional investors own 68.58% of the company’s stock.

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.