Deere & Company (NYSE:DE) Price Target Raised to $475.00 at Barclays

Deere & Company (NYSE:DE) had its price target hoisted by research analysts at Barclays from $400.00 to $475.00 in a report released on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the industrial products company’s stock. Barclays‘s price objective points to a potential upside of 8.87% from the company’s current price.

A number of other research firms have also commented on DE. Citigroup lifted their target price on shares of Deere & Company from $395.00 to $420.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Oppenheimer raised their price target on Deere & Company from $448.00 to $477.00 and gave the stock an “outperform” rating in a research report on Friday. BMO Capital Markets started coverage on Deere & Company in a report on Friday, August 9th. They issued a “market perform” rating and a $400.00 price objective for the company. HSBC cut Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, August 19th. Finally, Truist Financial increased their price target on shares of Deere & Company from $443.00 to $496.00 and gave the company a “buy” 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 stock. According to data from MarketBeat.com, Deere & Company presently has a consensus rating of “Hold” and a consensus price target of $425.59.

Deere & Company Trading Up 7.7 %

Shares of DE opened at $436.28 on Friday. The stock’s fifty day simple moving average is $405.95 and its 200-day simple moving average is $386.18. The firm has a market capitalization of $119.37 billion, a PE ratio of 14.89, a price-to-earnings-growth ratio of 1.54 and a beta of 0.93. Deere & Company has a 12-month low of $340.20 and a 12-month high of $442.05. The company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 1.85.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, topping the consensus estimate of $3.90 by $0.65. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The firm had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9.20 billion. During the same period in the previous year, the business posted $8.26 EPS. The company’s quarterly revenue was down 32.8% compared to the same quarter last year. As a group, research analysts predict that Deere & Company will post 25 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Fairscale Capital LLC bought a new position in shares of Deere & Company during the 2nd quarter worth approximately $26,000. Pineridge Advisors LLC boosted its position in Deere & Company by 725.0% during the first quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 58 shares during the period. Livelsberger Financial Advisory bought a new position in Deere & Company during the third quarter worth $32,000. Olistico Wealth LLC acquired a new position in shares of Deere & Company in the second quarter valued at $37,000. Finally, Centennial Bank AR raised its position in shares of Deere & Company by 420.0% in the second quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 84 shares during the period. Institutional investors 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.