Deere & Company (NYSE:DE) Price Target Raised to $462.00 at UBS Group

Deere & Company (NYSE:DE) had its target price upped by UBS Group from $404.00 to $462.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a “neutral” rating on the industrial products company’s stock. UBS Group’s price target indicates a potential upside of 3.44% from the company’s current price.

A number of other research analysts have also weighed in on DE. Hsbc Global Res lowered shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 19th. Citigroup lifted their target price on shares of Deere & Company from $395.00 to $420.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Barclays upped their target price on Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a report on Friday. 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 report on Friday, August 16th. Finally, JPMorgan Chase & Co. upped their price objective on Deere & Company from $420.00 to $450.00 and gave the company a “neutral” rating in a research note on Friday. Thirteen equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Deere & Company currently has a consensus rating of “Hold” and a consensus target price of $431.61.

Deere & Company Stock Performance

Shares of DE opened at $446.65 on Friday. The firm has a market capitalization of $122.20 billion, a P/E ratio of 17.45, a P/E/G ratio of 1.70 and a beta of 0.93. Deere & Company has a 52 week low of $340.20 and a 52 week high of $447.50. The stock has a 50 day moving average price of $406.99 and a two-hundred day moving average price of $386.36. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.87 and a current ratio of 2.09.

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

Institutional Trading of Deere & Company

Institutional investors have recently added to or reduced their stakes in the stock. SkyView Investment Advisors LLC grew its stake in Deere & Company by 6.6% during the third quarter. SkyView Investment Advisors LLC now owns 1,098 shares of the industrial products company’s stock valued at $458,000 after acquiring an additional 68 shares in the last quarter. M&T Bank Corp grew its position in shares of Deere & Company by 4.0% during the 3rd quarter. M&T Bank Corp now owns 170,325 shares of the industrial products company’s stock valued at $71,081,000 after purchasing an additional 6,520 shares in the last quarter. TCW Group Inc. raised its position in shares of Deere & Company by 0.6% in the third quarter. TCW Group Inc. now owns 50,274 shares of the industrial products company’s stock worth $20,981,000 after buying an additional 296 shares in the last quarter. TD Private Client Wealth LLC boosted its stake in Deere & Company by 3.9% during the third quarter. TD Private Client Wealth LLC now owns 1,979 shares of the industrial products company’s stock valued at $826,000 after buying an additional 74 shares during the period. Finally, Sunbelt Securities Inc. grew its position in Deere & Company by 29.3% during the third quarter. Sunbelt Securities Inc. now owns 847 shares of the industrial products company’s stock worth $354,000 after buying an additional 192 shares in the last quarter. 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.