Deere & Company (NYSE:DE) Given New $475.00 Price Target at Barclays

Deere & Company (NYSE:DE) had its target price lifted by stock analysts at Barclays from $400.00 to $475.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the industrial products company’s stock. Barclays‘s price target indicates a potential upside of 8.87% from the company’s previous close.

Several other brokerages have also recently issued reports on DE. Morgan Stanley cut their price target on Deere & Company from $450.00 to $425.00 and set an “overweight” rating for the company in a research note on Monday, August 26th. HSBC downgraded Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, August 19th. JPMorgan Chase & Co. upped their price objective on shares of Deere & Company from $360.00 to $420.00 and gave the stock a “neutral” rating in a research report on Friday, October 11th. Evercore ISI raised their target price on shares of Deere & Company from $371.00 to $378.00 and gave the company an “in-line” rating in a report on Monday, August 19th. Finally, Citigroup increased their price target on shares of Deere & Company from $395.00 to $420.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Twelve investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $425.59.

Deere & Company Stock Performance

Shares of NYSE DE opened at $436.28 on Friday. The company has a debt-to-equity ratio of 1.85, a current ratio of 2.07 and a quick ratio of 1.87. The firm has a market cap of $119.37 billion, a price-to-earnings ratio of 14.89, a P/E/G ratio of 1.54 and a beta of 0.93. The stock’s fifty day moving average price is $405.95 and its two-hundred day moving average price is $386.18. Deere & Company has a one year low of $340.20 and a one year high of $442.05.

Deere & Company (NYSE:DE) last released 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. The business had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.20 billion. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. Deere & Company’s revenue was down 32.8% compared to the same quarter last year. During the same period in the prior year, the company posted $8.26 earnings per share. On average, equities analysts forecast that Deere & Company will post 25 EPS for the current year.

Hedge Funds Weigh In On Deere & Company

A number of hedge funds have recently modified their holdings of the business. Oppenheimer Asset Management Inc. increased its position in Deere & Company by 20.5% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 15,808 shares of the industrial products company’s stock valued at $5,906,000 after purchasing an additional 2,692 shares during the period. Chase Investment Counsel Corp increased its position in shares of Deere & Company by 53.8% during the third quarter. Chase Investment Counsel Corp now owns 4,000 shares of the industrial products company’s stock worth $1,669,000 after buying an additional 1,400 shares during the period. Balentine LLC bought a new position in Deere & Company during the third quarter worth $710,000. Royal Fund Management LLC lifted its holdings in Deere & Company by 99.8% in the third quarter. Royal Fund Management LLC now owns 6,454 shares of the industrial products company’s stock valued at $2,694,000 after buying an additional 3,223 shares during the period. Finally, New Century Financial Group LLC acquired a new stake in Deere & Company during the 3rd quarter worth about $1,052,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

About Deere & Company

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.