JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Deere & Company (NYSE:DE) Stock

Deere & Company (NYSE:DE) had its target price increased by JPMorgan Chase & Co. from $490.00 to $540.00 in a report released on Friday,Benzinga reports. The firm currently has a “neutral” rating on the industrial products company’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 1.54% from the company’s current price.

Other research analysts have also recently issued reports about the company. StockNews.com upgraded Deere & Company from a “sell” rating to a “hold” rating in a research note on Tuesday, May 13th. Oppenheimer increased their price target on Deere & Company from $510.00 to $513.00 and gave the company an “outperform” rating in a research note on Tuesday, April 22nd. Morgan Stanley increased their price target on Deere & Company from $450.00 to $500.00 and gave the company an “overweight” rating in a research note on Wednesday, April 16th. Truist Financial reiterated a “buy” rating and issued a $546.00 price target (down from $550.00) on shares of Deere & Company in a research note on Friday, February 14th. Finally, UBS Group lowered their target price on Deere & Company from $462.00 to $440.00 and set a “neutral” rating for the company in a research report on Monday, April 7th. Thirteen analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $504.38.

Deere & Company Trading Up 3.0%

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

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

Insider Buying and Selling at Deere & Company

In other Deere & Company news, insider Rajesh Kalathur sold 24,580 shares of Deere & Company stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $500.61, for a total transaction of $12,304,993.80. Following the transaction, the insider now owns 74,878 shares of the company’s stock, valued at $37,484,675.58. This trade represents a 24.71% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.29% of the company’s stock.

Hedge Funds Weigh In On Deere & Company

Several hedge funds have recently modified their holdings of the company. Chicago Partners Investment Group LLC lifted its position in shares of Deere & Company by 1.2% during the 1st quarter. Chicago Partners Investment Group LLC now owns 1,803 shares of the industrial products company’s stock worth $852,000 after buying an additional 21 shares in the last quarter. Tyler Stone Wealth Management raised its holdings in shares of Deere & Company by 1.7% in the 1st quarter. Tyler Stone Wealth Management now owns 1,230 shares of the industrial products company’s stock worth $577,000 after purchasing an additional 21 shares during the period. Robertson Stephens Wealth Management LLC lifted its stake in Deere & Company by 2.2% in the fourth quarter. Robertson Stephens Wealth Management LLC now owns 1,002 shares of the industrial products company’s stock valued at $426,000 after purchasing an additional 22 shares during the last quarter. Sunbelt Securities Inc. increased its position in Deere & Company by 2.4% in the first quarter. Sunbelt Securities Inc. now owns 925 shares of the industrial products company’s stock worth $434,000 after buying an additional 22 shares during the last quarter. Finally, Hayek Kallen Investment Management increased its position in Deere & Company by 1.7% in the first quarter. Hayek Kallen Investment Management now owns 1,299 shares of the industrial products company’s stock worth $610,000 after buying an additional 22 shares during the last quarter. 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.