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

Deere & Company (NYSE:DE) had its price objective hoisted by stock analysts at Truist Financial from $538.00 to $550.00 in a report released on Thursday,Benzinga reports. The firm currently has a “buy” rating on the industrial products company’s stock. Truist Financial’s price target points to a potential upside of 27.17% from the company’s current price.

A number of other equities research analysts also recently weighed in on DE. UBS Group boosted 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. Barclays boosted their target price on shares of Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Oppenheimer raised their price target on shares of Deere & Company from $448.00 to $477.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. JPMorgan Chase & Co. boosted their price objective on shares of Deere & Company from $420.00 to $450.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Finally, Morgan Stanley raised their target price on shares of Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. Thirteen analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $443.94.

Deere & Company Price Performance

Shares of DE stock opened at $432.49 on Thursday. The firm has a fifty day moving average of $423.38 and a two-hundred day moving average of $394.74. The firm has a market cap of $117.45 billion, a P/E ratio of 16.89, a P/E/G ratio of 1.91 and a beta of 0.96. Deere & Company has a 1-year low of $340.20 and a 1-year high of $469.39. The company has a debt-to-equity ratio of 1.89, a current ratio of 2.09 and a quick ratio of 1.90.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, topping the consensus estimate of $3.89 by $0.66. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The business had revenue of $9.28 billion for the quarter, compared to analysts’ expectations of $9.20 billion. During the same quarter last year, the company posted $8.26 earnings per share. The company’s quarterly revenue was down 32.8% compared to the same quarter last year. As a group, research analysts anticipate that Deere & Company will post 19.52 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Deere & Company

Several hedge funds have recently modified their holdings of DE. Fairscale Capital LLC acquired a new stake in shares of Deere & Company in the second quarter valued at $26,000. Livelsberger Financial Advisory acquired a new stake in Deere & Company in the 3rd quarter valued at about $32,000. Centennial Bank AR lifted its holdings in Deere & Company by 420.0% in the 2nd quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 84 shares during the last quarter. Continuum Advisory LLC boosted its position in shares of Deere & Company by 155.8% during the 3rd quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock valued at $43,000 after purchasing an additional 67 shares in the last quarter. Finally, Darwin Wealth Management LLC acquired a new position in shares of Deere & Company in the 3rd quarter worth approximately $47,000. 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.