JPMorgan Chase & Co. Raises Deere & Company (NYSE:DE) Price Target to $470.00

Deere & Company (NYSE:DE) had its price objective hoisted by equities researchers at JPMorgan Chase & Co. from $450.00 to $470.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the industrial products company’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 8.75% from the company’s current price.

A number of other analysts also recently issued reports on DE. Oppenheimer increased their target price 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. Morgan Stanley raised their target price on shares of Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a research note on Monday, November 25th. Barclays upped their price target 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. Jefferies Financial Group lowered Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price objective on the stock. in a research report on Friday, December 6th. Finally, Citigroup decreased their target price on Deere & Company from $470.00 to $430.00 and set a “neutral” rating for the company in a research report on Tuesday. Eleven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $442.83.

Deere & Company Stock Up 0.5 %

Shares of DE opened at $432.17 on Wednesday. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $469.39. The company’s fifty day moving average is $429.20 and its two-hundred day moving average is $400.87. The firm has a market cap of $117.70 billion, a PE ratio of 16.88, a price-to-earnings-growth ratio of 1.88 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 issued its earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, beating analysts’ consensus estimates of $3.89 by $0.66. The firm had revenue of $9.28 billion for the quarter, compared to analysts’ expectations of $9.20 billion. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The firm’s revenue for the quarter was down 32.8% compared to the same quarter last year. During the same quarter last year, the firm earned $8.26 earnings per share. Analysts forecast that Deere & Company will post 19.41 earnings per share for the current year.

Institutional Investors Weigh In On Deere & Company

Hedge funds and other institutional investors have recently modified their holdings of the stock. Fairscale Capital LLC acquired a new position in Deere & Company in the second quarter worth about $26,000. Modus Advisors LLC acquired a new position in shares of Deere & Company in the 4th quarter worth approximately $32,000. Livelsberger Financial Advisory bought a new stake in shares of Deere & Company in the 3rd quarter valued at approximately $32,000. Centennial Bank AR raised its position in shares of Deere & Company by 420.0% during 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 in the last quarter. Finally, Continuum Advisory LLC lifted its stake in Deere & Company by 155.8% during the third quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock worth $43,000 after purchasing an additional 67 shares during the last quarter. Institutional investors own 68.58% of the company’s stock.

About Deere & Company

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.