Deere & Company (NYSE:DE) Receives Buy Rating from DA Davidson

Deere & Company (NYSE:DE)‘s stock had its “buy” rating reissued by equities research analysts at DA Davidson in a report released on Friday,Benzinga reports. They currently have a $542.00 price objective on the industrial products company’s stock. DA Davidson’s target price points to a potential upside of 1.92% from the company’s previous close.

Other equities analysts have also issued research reports about the company. Oppenheimer raised their target price on Deere & Company from $510.00 to $513.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 22nd. Robert W. Baird increased their price objective on Deere & Company from $501.00 to $514.00 and gave the company a “neutral” rating in a report on Friday. Citigroup reduced their price objective on Deere & Company from $480.00 to $450.00 and set a “neutral” rating for the company in a research note on Tuesday, April 8th. Truist Financial reaffirmed a “buy” rating and set a $546.00 target price (down previously from $550.00) on shares of Deere & Company in a report on Friday, February 14th. Finally, Baird R W lowered Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 3rd. Thirteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Deere & Company currently has a consensus rating of “Hold” and a consensus target price of $504.38.

Deere & Company Stock Performance

DE opened at $531.79 on Friday. The company has a market cap of $144.34 billion, a P/E ratio of 23.57, a price-to-earnings-growth ratio of 2.14 and a beta of 1.08. The company has a quick ratio of 1.98, a current ratio of 2.22 and a debt-to-equity ratio of 1.94. The firm’s 50-day moving average price is $468.29 and its 200-day moving average price is $454.67. Deere & Company has a 52-week low of $340.20 and a 52-week high of $533.78.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.72 by $0.92. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. The business had revenue of $11.17 billion for the quarter, compared to analyst estimates of $10.80 billion. As a group, equities analysts anticipate that Deere & Company will post 19.32 EPS for the current fiscal year.

Insider Activity at Deere & Company

In related news, insider Rajesh Kalathur sold 24,580 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $500.61, for a total value of $12,304,993.80. Following the transaction, the insider now directly owns 74,878 shares of the company’s stock, valued at approximately $37,484,675.58. This trade represents a 24.71% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.29% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Deere & Company

Hedge funds have recently made changes to their positions in the company. Park Avenue Securities LLC grew its holdings in shares of Deere & Company by 39.1% during the fourth quarter. Park Avenue Securities LLC now owns 4,724 shares of the industrial products company’s stock worth $2,001,000 after buying an additional 1,328 shares in the last quarter. Ritholtz Wealth Management boosted its position in Deere & Company by 17.5% during the fourth quarter. Ritholtz Wealth Management now owns 3,419 shares of the industrial products company’s stock worth $1,449,000 after acquiring an additional 510 shares during the last quarter. JGP Wealth Management LLC grew its stake in Deere & Company by 4.8% during the 4th quarter. JGP Wealth Management LLC now owns 3,158 shares of the industrial products company’s stock valued at $1,338,000 after acquiring an additional 146 shares in the last quarter. First Pacific Financial raised its holdings in Deere & Company by 648.2% in the 4th quarter. First Pacific Financial now owns 1,055 shares of the industrial products company’s stock valued at $447,000 after acquiring an additional 914 shares during the last quarter. Finally, Border to Coast Pensions Partnership Ltd raised its holdings in Deere & Company by 5.2% in the 4th quarter. Border to Coast Pensions Partnership Ltd now owns 103,510 shares of the industrial products company’s stock valued at $43,828,000 after acquiring an additional 5,110 shares during the last quarter. Institutional investors and hedge funds 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.