Deere & Company (NYSE:DE) Given New $477.00 Price Target at Oppenheimer

Deere & Company (NYSE:DE) had its price target increased by equities research analysts at Oppenheimer from $448.00 to $477.00 in a research note issued to investors on Friday,Briefing.com Automated Import reports. The brokerage currently has an “outperform” rating on the industrial products company’s stock. Oppenheimer’s price objective indicates a potential upside of 9.33% from the company’s current price.

Several other research firms have also issued reports on DE. Deutsche Bank Aktiengesellschaft decreased their target price on Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a research note on Thursday, August 8th. Evercore ISI increased their target price on Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a research note on Monday, August 19th. Hsbc Global Res lowered Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 19th. HSBC lowered Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, August 19th. Finally, Truist Financial increased their price target on Deere & Company from $443.00 to $496.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Twelve analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $422.50.

Deere & Company Stock Performance

Shares of Deere & Company stock opened at $436.28 on Friday. Deere & Company has a 52 week low of $340.20 and a 52 week high of $442.05. The business’s fifty day simple moving average is $405.95 and its 200-day simple moving average is $386.18. The firm has a market cap of $119.37 billion, a PE ratio of 14.89, a price-to-earnings-growth ratio of 1.54 and a beta of 0.93. 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 quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, beating the consensus estimate of $3.90 by $0.65. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The business had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.20 billion. During the same quarter in the prior year, the company posted $8.26 EPS. The company’s quarterly revenue was down 32.8% on a year-over-year basis. Equities analysts forecast that Deere & Company will post 25 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in DE. Fairscale Capital LLC purchased a new position in shares of Deere & Company in the 2nd quarter valued at approximately $26,000. Pineridge Advisors LLC grew its stake in shares of Deere & Company by 725.0% in the 1st 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. Livelsberger Financial Advisory purchased a new position in shares of Deere & Company in the 3rd quarter valued at approximately $32,000. Olistico Wealth LLC purchased a new position in shares of Deere & Company in the 2nd quarter valued at approximately $37,000. Finally, Centennial Bank AR grew its stake in shares of Deere & Company by 420.0% in the 2nd quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 84 shares during the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

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.