Deere & Company (NYSE:DE) Stock Price Expected to Rise, Citigroup Analyst Says

Deere & Company (NYSE:DE) had its price objective hoisted by analysts at Citigroup from $450.00 to $550.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the industrial products company’s stock. Citigroup’s target price indicates a potential upside of 3.62% from the stock’s previous close.

A number of other research analysts also recently issued reports on DE. Oppenheimer increased their price objective on Deere & Company from $513.00 to $555.00 and gave the stock an “outperform” rating in a report on Friday. Baird R W cut Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 3rd. Barclays boosted their price objective on Deere & Company from $475.00 to $530.00 and gave the stock an “overweight” rating in a research report on Friday. DA Davidson reissued a “buy” rating and issued a $542.00 price objective on shares of Deere & Company in a research note on Friday. Finally, Truist Financial raised their target price on Deere & Company from $546.00 to $619.00 and gave the company a “buy” rating in a research note on Friday. Thirteen investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $513.00.

Deere & Company Stock Performance

Shares of DE traded down $0.67 on Monday, reaching $530.81. 515,444 shares of the stock traded hands, compared to its average volume of 1,413,229. Deere & Company has a 12 month low of $340.20 and a 12 month high of $533.78. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.22 and a quick ratio of 1.98. The stock’s 50-day moving average price is $468.29 and its 200-day moving average price is $455.02. The firm has a market cap of $144.07 billion, a price-to-earnings ratio of 23.53, a P/E/G ratio of 2.14 and a beta of 1.08.

Deere & Company (NYSE:DE) last announced its quarterly earnings data 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. The firm had revenue of $11.17 billion for the quarter, compared to analyst estimates of $10.80 billion. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. The business’s quarterly revenue was down 17.9% compared to the same quarter last year. During the same period last year, the company earned $8.53 EPS. Equities analysts forecast 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 stock was sold at an average price of $500.61, for a total value of $12,304,993.80. Following the sale, the insider now directly owns 74,878 shares of the company’s stock, valued at $37,484,675.58. This trade represents a 24.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.29% of the stock is owned by insiders.

Institutional Trading of Deere & Company

Several institutional investors and hedge funds have recently bought and sold shares of DE. Activest Wealth Management increased its position in shares of Deere & Company by 2,750.0% during the first quarter. Activest Wealth Management now owns 57 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 55 shares in the last quarter. Pineridge Advisors LLC lifted its stake in Deere & Company by 60.5% in the 4th quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 26 shares in the last quarter. Hughes Financial Services LLC purchased a new stake in Deere & Company in the 1st quarter worth about $29,000. Cornerstone Planning Group LLC grew its stake in Deere & Company by 116.1% in the 1st quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 36 shares in the last quarter. Finally, YANKCOM Partnership purchased a new stake in Deere & Company during the fourth quarter valued at approximately $34,000. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

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.