Truist Financial Issues Positive Forecast for Deere & Company (NYSE:DE) Stock Price

Deere & Company (NYSE:DE) had its price target raised by investment analysts at Truist Financial from $496.00 to $538.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the industrial products company’s stock. Truist Financial’s target price points to a potential upside of 20.93% from the stock’s current price.

A number of other analysts have also recently commented on the company. Barclays upped their price objective on Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a research report on Friday. HSBC lowered shares of Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, August 19th. Evercore ISI upped their price target on Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a research report on Monday, August 19th. JPMorgan Chase & Co. lifted their target price on shares of Deere & Company from $420.00 to $450.00 and gave the company a “neutral” rating in a research note on Friday. Finally, Deutsche Bank Aktiengesellschaft cut their price target on Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a research note on Thursday, August 8th. Twelve equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $429.82.

Deere & Company Trading Up 1.7 %

Shares of NYSE:DE traded up $7.33 during midday trading on Friday, hitting $444.87. 988,179 shares of the stock traded hands, compared to its average volume of 1,440,217. The stock has a market capitalization of $121.72 billion, a PE ratio of 15.12, a P/E/G ratio of 1.54 and a beta of 0.93. Deere & Company has a one year low of $340.20 and a one year high of $445.55. The business’s 50 day moving average is $405.95 and its two-hundred day moving average is $386.18. The company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 1.85.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, beating analysts’ consensus estimates of $3.90 by $0.65. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The firm had revenue of $9.28 billion for the quarter, compared to analysts’ expectations of $9.20 billion. During the same quarter in the previous year, the business posted $8.26 EPS. The company’s quarterly revenue was down 32.8% on a year-over-year basis. As a group, research analysts forecast that Deere & Company will post 25 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Pineridge Advisors LLC increased its stake in Deere & Company by 725.0% during the first quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 58 shares during the last quarter. Fairscale Capital LLC bought a new position in shares of Deere & Company during the second quarter worth about $26,000. Livelsberger Financial Advisory acquired a new stake in Deere & Company in the third quarter worth about $32,000. Olistico Wealth LLC acquired a new stake in Deere & Company in the second quarter worth about $37,000. Finally, Centennial Bank AR lifted its holdings in Deere & Company by 420.0% in the second quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 84 shares during the period. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Company Profile

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.