Morgan Stanley Boosts Deere & Company (NYSE:DE) Price Target to $450.00

Deere & Company (NYSE:DE) had its price objective lifted by investment analysts at Morgan Stanley from $401.00 to $450.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the industrial products company’s stock. Morgan Stanley’s price objective points to a potential downside of 1.17% from the stock’s previous close.

Other analysts have also recently issued research reports about the stock. Truist Financial boosted their price objective on shares of Deere & Company from $496.00 to $538.00 and gave the stock a “buy” rating in a research report on Friday. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a research note on Thursday, August 8th. Citigroup lifted their target price on Deere & Company from $395.00 to $420.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. BMO Capital Markets initiated coverage on Deere & Company in a research report on Friday, August 9th. They issued a “market perform” rating and a $400.00 target price for the company. Finally, HSBC lowered Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, August 19th. Thirteen equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $433.00.

Deere & Company Trading Up 1.9 %

Shares of DE stock opened at $455.33 on Monday. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $458.00. The company has a 50 day moving average price of $406.99 and a 200 day moving average price of $386.22. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.90 and a current ratio of 2.09. The stock has a market capitalization of $124.58 billion, a P/E ratio of 17.51, a price-to-earnings-growth ratio of 1.75 and a beta of 0.93.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, topping analysts’ consensus estimates of $3.90 by $0.65. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The firm had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.20 billion. During the same period in the prior year, the firm earned $8.26 earnings per share. The business’s quarterly revenue was down 32.8% compared to the same quarter last year. Equities research analysts predict that Deere & Company will post 21.31 EPS for the current fiscal year.

Institutional Trading of Deere & Company

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Mattern Wealth Management LLC grew its stake in shares of Deere & Company by 1.3% in the third quarter. Mattern Wealth Management LLC now owns 1,884 shares of the industrial products company’s stock worth $786,000 after purchasing an additional 25 shares in the last quarter. Carret Asset Management LLC lifted its holdings in Deere & Company by 0.3% in the 3rd quarter. Carret Asset Management LLC now owns 8,148 shares of the industrial products company’s stock valued at $3,401,000 after acquiring an additional 25 shares during the last quarter. Round Rock Advisors LLC boosted its holdings in Deere & Company by 2.0% during the third quarter. Round Rock Advisors LLC now owns 1,252 shares of the industrial products company’s stock worth $522,000 after buying an additional 25 shares in the last quarter. Centaurus Financial Inc. boosted its stake in shares of Deere & Company by 2.3% during the 2nd quarter. Centaurus Financial Inc. now owns 1,160 shares of the industrial products company’s stock worth $433,000 after acquiring an additional 26 shares in the last quarter. Finally, Cornell Pochily Investment Advisors Inc. increased its stake in Deere & Company by 0.7% in the 3rd quarter. Cornell Pochily Investment Advisors Inc. now owns 3,495 shares of the industrial products company’s stock worth $1,459,000 after purchasing an additional 26 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

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.