Deere & Company (NYSE:DE) Given New $455.00 Price Target at Evercore ISI

Deere & Company (NYSE:DE) had its target price lifted by investment analysts at Evercore ISI from $437.00 to $455.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “in-line” rating on the industrial products company’s stock. Evercore ISI’s price objective would indicate a potential downside of 10.20% from the stock’s previous close.

Other equities analysts have also recently issued reports about the company. Morgan Stanley lifted their price objective on Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a report on Monday, November 25th. Citigroup raised their price target on shares of Deere & Company from $430.00 to $480.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. Oppenheimer upped their price target on Deere & Company from $477.00 to $507.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. JPMorgan Chase & Co. raised their price objective on Deere & Company from $470.00 to $500.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. Finally, Truist Financial reiterated a “buy” rating and issued a $546.00 target price (down from $550.00) on shares of Deere & Company in a report on Friday, February 14th. Eleven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $454.65.

Deere & Company Stock Performance

Shares of DE traded up $5.10 during midday trading on Wednesday, reaching $506.66. 389,673 shares of the stock were exchanged, compared to its average volume of 1,420,438. Deere & Company has a twelve month low of $340.20 and a twelve month high of $505.08. The company has a market cap of $137.99 billion, a P/E ratio of 22.46, a PEG ratio of 2.96 and a beta of 0.98. The stock’s 50 day simple moving average is $448.71 and its 200 day simple moving average is $418.73. The company has a quick ratio of 1.98, a current ratio of 2.22 and a debt-to-equity ratio of 1.94.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, February 13th. The industrial products company reported $3.19 EPS for the quarter, topping 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%. On average, sell-side analysts expect that Deere & Company will post 19.35 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Ledyard National Bank grew its stake in Deere & Company by 3.3% during the third quarter. Ledyard National Bank now owns 1,231 shares of the industrial products company’s stock valued at $514,000 after acquiring an additional 39 shares in the last quarter. Calton & Associates Inc. purchased a new position in shares of Deere & Company during the 3rd quarter valued at $270,000. Fortis Group Advisors LLC increased its holdings in shares of Deere & Company by 357.8% in the third quarter. Fortis Group Advisors LLC now owns 618 shares of the industrial products company’s stock worth $258,000 after purchasing an additional 483 shares during the period. Sequoia Financial Advisors LLC grew its position in Deere & Company by 153.4% during the third quarter. Sequoia Financial Advisors LLC now owns 15,077 shares of the industrial products company’s stock worth $6,292,000 after buying an additional 9,128 shares in the last quarter. Finally, Eastern Bank lifted its position in Deere & Company by 293.7% during the third quarter. Eastern Bank now owns 4,059 shares of the industrial products company’s stock valued at $1,694,000 after purchasing an additional 3,028 shares during the last quarter. Institutional investors own 68.58% of the company’s stock.

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.