Citigroup Increases Deere & Company (NYSE:DE) Price Target to $550.00

Deere & Company (NYSE:DE) had its price objective upped by Citigroup from $450.00 to $550.00 in a report issued on Monday,Benzinga reports. The firm currently has a “neutral” rating on the industrial products company’s stock. Citigroup’s target price points to a potential upside of 3.62% from the company’s previous close.

Several other analysts also recently weighed in on DE. StockNews.com upgraded shares of Deere & Company from a “sell” rating to a “hold” rating in a research report on Tuesday, May 13th. Robert W. Baird upped their price target on shares of Deere & Company from $501.00 to $514.00 and gave the company a “neutral” rating in a research report on Friday. JPMorgan Chase & Co. upped their price objective on shares of Deere & Company from $490.00 to $540.00 and gave the stock a “neutral” rating in a research report on Friday. Evercore ISI upped their price objective on shares of Deere & Company from $455.00 to $493.00 and gave the stock an “in-line” rating in a research report on Monday. Finally, Bank of America upped their price objective on shares of Deere & Company from $495.00 to $556.00 and gave the stock a “neutral” rating in a research report on Friday. Thirteen analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Deere & Company has an average rating of “Hold” and a consensus price target of $513.00.

Deere & Company Stock Down 0.1%

Shares of DE traded down $0.67 during mid-day trading on Monday, hitting $530.81. The company’s stock had a trading volume of 515,444 shares, compared to its average volume of 1,413,229. Deere & Company has a 52-week low of $340.20 and a 52-week high of $533.78. The company’s 50-day moving average is $468.29 and its 200-day moving average is $455.02. 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 firm has a market capitalization of $144.07 billion, a price-to-earnings ratio of 23.53, a PEG ratio of 2.14 and a beta of 1.08.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.72 by $0.92. The firm had revenue of $11.17 billion for the quarter, compared to the consensus estimate of $10.80 billion. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. The firm’s quarterly revenue was down 17.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $8.53 earnings per share. On average, equities research analysts forecast that Deere & Company will post 19.32 EPS for the current fiscal year.

Insider Buying and Selling

In other Deere & Company news, insider Rajesh Kalathur sold 24,580 shares of the stock in a transaction dated 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 completion of the sale, the insider now directly owns 74,878 shares of the company’s stock, valued at approximately $37,484,675.58. This represents a 24.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.29% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Deere & Company

Several institutional investors and hedge funds have recently added to or reduced their stakes in DE. Norges Bank purchased a new stake in Deere & Company during the fourth quarter worth approximately $1,244,094,000. GAMMA Investing LLC raised its holdings in shares of Deere & Company by 61,215.9% in the 1st quarter. GAMMA Investing LLC now owns 1,753,022 shares of the industrial products company’s stock worth $822,781,000 after purchasing an additional 1,750,163 shares during the period. Castlekeep Investment Advisors LLC acquired a new stake in Deere & Company during the 4th quarter valued at approximately $541,437,000. Nuveen LLC bought a new stake in shares of Deere & Company in the 1st quarter worth approximately $571,073,000. Finally, Price T Rowe Associates Inc. MD raised its stake in Deere & Company by 19.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,589,760 shares of the industrial products company’s stock valued at $2,792,082,000 after acquiring an additional 1,095,736 shares in the last quarter. Institutional investors and hedge funds 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.