Deere & Company (NYSE:DE) Price Target Raised to $475.00 at Barclays

Deere & Company (NYSE:DE) had its target price hoisted by equities researchers at Barclays from $400.00 to $475.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the industrial products company’s stock. Barclays‘s price target points to a potential upside of 6.35% from the stock’s previous close.

A number of other research firms also recently issued reports on DE. Deutsche Bank Aktiengesellschaft decreased their price objective on Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a report on Thursday, August 8th. Hsbc Global Res downgraded shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, August 19th. Morgan Stanley reduced their target price on shares of Deere & Company from $450.00 to $425.00 and set an “overweight” rating for the company in a report on Monday, August 26th. Truist Financial lifted their price target on shares of Deere & Company from $443.00 to $496.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Finally, HSBC downgraded shares of Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, August 19th. Thirteen investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Deere & Company currently has an average rating of “Hold” and an average price target of $431.61.

Deere & Company Stock Performance

Shares of DE opened at $446.65 on Friday. The firm has a market cap of $122.20 billion, a P/E ratio of 17.45, a PEG ratio of 1.70 and a beta of 0.93. Deere & Company has a twelve month low of $340.20 and a twelve month high of $447.50. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.87 and a current ratio of 2.09. The firm’s 50 day moving average price is $406.99 and its two-hundred day moving average price is $386.36.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, beating the consensus estimate of $3.90 by $0.65. The business had revenue of $9.28 billion for the quarter, compared to analysts’ expectations of $9.20 billion. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The firm’s revenue was down 32.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $8.26 EPS. On average, analysts forecast that Deere & Company will post 21.41 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Pineridge Advisors LLC grew its position in shares of Deere & Company by 725.0% in the first quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 58 shares during the last quarter. Fairscale Capital LLC acquired a new position in Deere & Company in the 2nd quarter valued at $26,000. Livelsberger Financial Advisory bought a new position in Deere & Company during the 3rd quarter worth $32,000. Olistico Wealth LLC acquired a new stake in shares of Deere & Company during the second quarter worth $37,000. Finally, Centennial Bank AR boosted its position in shares of Deere & Company by 420.0% in the second quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 84 shares during the period. 68.58% of the stock is owned by institutional investors.

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.