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

Deere & Company (NYSE:DE) had its target price lifted by analysts at Oppenheimer from $513.00 to $555.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an “outperform” rating on the industrial products company’s stock. Oppenheimer’s price objective points to a potential upside of 4.36% from the company’s previous close.

DE has been the subject of several other reports. Barclays raised their target price on Deere & Company from $475.00 to $530.00 and gave the company an “overweight” rating in a research note on Friday. 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 note on Monday, April 7th. Citigroup lowered their target price on Deere & Company from $480.00 to $450.00 and set a “neutral” rating for the company in a research note on Tuesday, April 8th. DA Davidson reiterated a “buy” rating and issued a $542.00 price target on shares of Deere & Company in a research note on Friday. Finally, Raymond James lifted their price target on Deere & Company from $530.00 to $560.00 and gave the stock an “outperform” rating in a research note on Friday. Thirteen research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Deere & Company has a consensus rating of “Hold” and an average target price of $504.38.

Deere & Company Stock Up 3.0%

Shares of Deere & Company stock opened at $531.79 on Friday. The business has a 50-day moving average of $468.29 and a 200-day moving average of $454.67. 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 company has a market capitalization 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 1-year low of $340.20 and a 1-year high of $533.78.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share for the quarter, beating the consensus estimate of $5.72 by $0.92. The company had revenue of $11.17 billion during the quarter, compared to the consensus estimate of $10.80 billion. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. As a group, equities analysts forecast 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 stock was sold at an average price of $500.61, for a total value of $12,304,993.80. Following the completion of the transaction, the insider now directly owns 74,878 shares in the company, valued at $37,484,675.58. The trade was a 24.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.29% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Deere & Company

A number of hedge funds and other institutional investors have recently bought and sold shares of DE. Chicago Partners Investment Group LLC raised its holdings in shares of Deere & Company by 1.2% during the first quarter. Chicago Partners Investment Group LLC now owns 1,803 shares of the industrial products company’s stock valued at $852,000 after buying an additional 21 shares during the last quarter. Tyler Stone Wealth Management raised its holdings in shares of Deere & Company by 1.7% during the first quarter. Tyler Stone Wealth Management now owns 1,230 shares of the industrial products company’s stock valued at $577,000 after buying an additional 21 shares during the last quarter. Robertson Stephens Wealth Management LLC raised its holdings in shares of Deere & Company by 2.2% during 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 buying an additional 22 shares during the last quarter. Sunbelt Securities Inc. raised its holdings in shares of Deere & Company by 2.4% during the first quarter. Sunbelt Securities Inc. now owns 925 shares of the industrial products company’s stock valued at $434,000 after buying an additional 22 shares during the last quarter. Finally, Hayek Kallen Investment Management raised its holdings in shares of Deere & Company by 1.7% during the first quarter. Hayek Kallen Investment Management now owns 1,299 shares of the industrial products company’s stock valued at $610,000 after buying an additional 22 shares during the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

About Deere & Company

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.