Deere & Company’s (DE) “Buy” Rating Reaffirmed at Truist Financial

Deere & Company (NYSE:DE)‘s stock had its “buy” rating reiterated by investment analysts at Truist Financial in a note issued to investors on Friday,Benzinga reports. They currently have a $546.00 target price on the industrial products company’s stock, down from their previous target price of $550.00. Truist Financial’s price objective indicates a potential upside of 14.29% from the company’s current price.

DE has been the topic of a number of other reports. Citigroup reduced their target price on shares of Deere & Company from $470.00 to $430.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th. Barclays upped their target price on shares of Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. JPMorgan Chase & Co. boosted their price target on shares of Deere & Company from $470.00 to $500.00 and gave the stock a “neutral” rating in a research note on Monday. Oppenheimer boosted their price target on shares of Deere & Company from $477.00 to $507.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Finally, Jefferies Financial Group downgraded shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price target for the company. in a research note on Friday, December 6th. Eleven analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Deere & Company has a consensus rating of “Hold” and an average price target of $445.94.

Deere & Company Price Performance

NYSE:DE traded up $11.53 on Friday, reaching $477.75. The stock had a trading volume of 615,281 shares, compared to its average volume of 1,376,592. Deere & Company has a 1-year low of $340.20 and a 1-year high of $485.84. The stock has a fifty day moving average price of $446.23 and a 200-day moving average price of $415.49. The company has a market capitalization of $130.11 billion, a P/E ratio of 18.69, a price-to-earnings-growth ratio of 2.87 and a beta of 0.98. The company has a quick ratio of 1.90, a current ratio of 2.09 and a debt-to-equity ratio of 1.89.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.14 by $0.05. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. Research analysts forecast that Deere & Company will post 19.38 EPS for the current year.

Institutional Investors Weigh In On Deere & Company

Several large investors have recently made changes to their positions in DE. Norges Bank acquired a new position in Deere & Company during the fourth quarter worth $1,244,094,000. Wellington Management Group LLP boosted its holdings in Deere & Company by 32.0% during the third quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company’s stock worth $3,068,404,000 after purchasing an additional 1,782,984 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Deere & Company by 19.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,589,760 shares of the industrial products company’s stock worth $2,792,082,000 after purchasing an additional 1,095,736 shares during the last quarter. FMR LLC boosted its holdings in Deere & Company by 22.9% during the fourth quarter. FMR LLC now owns 5,581,408 shares of the industrial products company’s stock worth $2,364,843,000 after purchasing an additional 1,039,395 shares during the last quarter. Finally, Pathway Financial Advisers LLC boosted its holdings in Deere & Company by 53,338.6% during the third quarter. Pathway Financial Advisers LLC now owns 854,484 shares of the industrial products company’s stock worth $356,602,000 after purchasing an additional 852,885 shares during the last quarter. Institutional investors 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.