Morgan Stanley Boosts Deere & Company (NYSE:DE) Price Target to $500.00

Deere & Company (NYSE:DE) had its price target raised by equities research analysts at Morgan Stanley from $450.00 to $500.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the industrial products company’s stock. Morgan Stanley’s price target indicates a potential upside of 9.00% from the stock’s previous close.

A number of other brokerages have also recently weighed in on DE. Evercore ISI raised their price objective on Deere & Company from $437.00 to $455.00 and gave the company an “in-line” rating in a report on Wednesday, February 19th. Truist Financial restated a “buy” rating and issued a $546.00 price objective (down from $550.00) on shares of Deere & Company in a report on Friday, February 14th. Robert W. Baird reaffirmed a “neutral” rating and set a $501.00 target price on shares of Deere & Company in a report on Monday, March 3rd. JPMorgan Chase & Co. boosted their target price on Deere & Company from $470.00 to $500.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. Finally, Oppenheimer boosted their price objective on Deere & Company from $477.00 to $507.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $459.89.

Deere & Company Price Performance

Shares of NYSE DE traded down $2.55 during midday trading on Wednesday, hitting $458.71. 244,118 shares of the company’s stock were exchanged, compared to its average volume of 1,427,085. The company has a current ratio of 2.22, a quick ratio of 1.98 and a debt-to-equity ratio of 1.94. The business’s fifty day moving average price is $470.85 and its two-hundred day moving average price is $443.98. The company has a market cap of $124.50 billion, a price-to-earnings ratio of 20.33, a PEG ratio of 2.14 and a beta of 1.00. Deere & Company has a 12-month low of $340.20 and a 12-month high of $515.05.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, February 13th. The industrial products company reported $3.19 earnings per share for the quarter, beating the consensus estimate of $3.14 by $0.05. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. As a group, research analysts forecast that Deere & Company will post 19.32 EPS for the current fiscal year.

Insider Transactions at Deere & Company

In other Deere & Company news, insider Rajesh Kalathur sold 24,580 shares of Deere & Company stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $500.61, for a total transaction of $12,304,993.80. Following the completion of the transaction, the insider now owns 74,878 shares in the company, valued at approximately $37,484,675.58. The trade was a 24.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.29% of the company’s stock.

Hedge Funds Weigh In On Deere & Company

Several large investors have recently modified their holdings of the stock. Everence Capital Management Inc. increased its holdings in shares of Deere & Company by 148.3% in the 4th quarter. Everence Capital Management Inc. now owns 12,223 shares of the industrial products company’s stock worth $5,179,000 after purchasing an additional 7,300 shares in the last quarter. Compass Financial Services Inc bought a new position in Deere & Company during the fourth quarter valued at approximately $254,000. Czech National Bank grew its position in Deere & Company by 5.7% in the 4th quarter. Czech National Bank now owns 55,170 shares of the industrial products company’s stock worth $23,376,000 after purchasing an additional 2,964 shares during the period. Banque Pictet & Cie SA raised its stake in Deere & Company by 2.0% during the 4th quarter. Banque Pictet & Cie SA now owns 78,274 shares of the industrial products company’s stock valued at $33,165,000 after buying an additional 1,500 shares during the last quarter. Finally, Spectrum Financial Alliance Ltd LLC lifted its holdings in shares of Deere & Company by 2.9% during the 4th quarter. Spectrum Financial Alliance Ltd LLC now owns 49,613 shares of the industrial products company’s stock valued at $21,021,000 after buying an additional 1,407 shares during the period. Hedge funds and other 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.