Deere & Company (NYSE:DE) Stock Price Expected to Rise, Citigroup Analyst Says

Deere & Company (NYSE:DE) had its price target lifted by research analysts at Citigroup from $430.00 to $480.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the industrial products company’s stock. Citigroup’s target price suggests a potential downside of 0.10% from the stock’s current price.

Several other analysts also recently weighed in on the company. Barclays increased their target price on Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. UBS Group raised their price target on Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Jefferies Financial Group lowered Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 target price on the stock. in a report on Friday, December 6th. Morgan Stanley lifted their target price on Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a research report on Monday, November 25th. Finally, JPMorgan Chase & Co. upped their target price on Deere & Company from $470.00 to $500.00 and gave the company a “neutral” rating in a research report on Monday. Eleven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Deere & Company currently has an average rating of “Hold” and an average target price of $448.72.

Deere & Company Stock Performance

Shares of NYSE:DE traded up $14.25 on Friday, hitting $480.47. The company’s stock had a trading volume of 752,052 shares, compared to its average volume of 1,381,427. Deere & Company has a 12 month low of $340.20 and a 12 month high of $485.84. The company has a market capitalization of $130.86 billion, a price-to-earnings ratio of 18.78, a price-to-earnings-growth ratio of 2.87 and a beta of 0.98. The stock’s 50-day moving average is $446.23 and its two-hundred day moving average is $415.49. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.90 and a current ratio of 2.09.

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

Hedge Funds Weigh In On Deere & Company

A number of institutional investors have recently bought and sold shares of the stock. Robertson Stephens Wealth Management LLC raised its stake in Deere & Company by 2.2% in the fourth quarter. Robertson Stephens Wealth Management LLC now owns 1,002 shares of the industrial products company’s stock worth $426,000 after buying an additional 22 shares in the last quarter. DLK Investment Management LLC increased its stake in shares of Deere & Company by 0.3% during the fourth quarter. DLK Investment Management LLC now owns 8,212 shares of the industrial products company’s stock valued at $3,479,000 after purchasing an additional 24 shares in the last quarter. Quent Capital LLC increased its stake in shares of Deere & Company by 2.8% during the fourth quarter. Quent Capital LLC now owns 889 shares of the industrial products company’s stock valued at $377,000 after purchasing an additional 24 shares in the last quarter. Valeo Financial Advisors LLC increased its stake in shares of Deere & Company by 0.3% during the fourth quarter. Valeo Financial Advisors LLC now owns 8,019 shares of the industrial products company’s stock valued at $3,398,000 after purchasing an additional 24 shares in the last quarter. Finally, Mattern Wealth Management LLC increased its stake in shares of Deere & Company by 1.3% during the third quarter. Mattern Wealth Management LLC now owns 1,884 shares of the industrial products company’s stock valued at $786,000 after purchasing an additional 25 shares in the last quarter. 68.58% of the stock is owned by institutional investors.

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.