DA Davidson Raises Deere & Company (NYSE:DE) Price Target to $760.00

Deere & Company (NYSE:DE) had its target price raised by equities researchers at DA Davidson from $685.00 to $760.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the industrial products company’s stock. DA Davidson’s price objective would suggest a potential upside of 16.18% from the stock’s previous close.

A number of other brokerages have also recently issued reports on DE. Oppenheimer upped their target price on shares of Deere & Company from $680.00 to $685.00 and gave the company an “outperform” rating in a report on Thursday. Royal Bank Of Canada reiterated an “outperform” rating and set a $752.00 price target on shares of Deere & Company in a report on Monday. Bank of America lowered their price target on Deere & Company from $672.00 to $607.50 and set a “neutral” rating on the stock in a research report on Friday, May 22nd. Weiss Ratings restated a “hold (c+)” rating on shares of Deere & Company in a research note on Tuesday, August 18th. Finally, Citigroup upped their price objective on shares of Deere & Company from $610.00 to $650.00 and gave the company a “neutral” rating in a report on Friday. Fourteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, Deere & Company currently has a consensus rating of “Moderate Buy” and a consensus target price of $653.48.

Deere & Company Stock Up 1.0%

DE traded up $6.71 during trading on Monday, reaching $654.18. 416,956 shares of the stock were exchanged, compared to its average volume of 1,378,122. The stock has a market cap of $176.59 billion, a P/E ratio of 36.38, a price-to-earnings-growth ratio of 2.74 and a beta of 0.90. Deere & Company has a twelve month low of $433.00 and a twelve month high of $674.19. The stock’s 50 day moving average price is $606.90 and its two-hundred day moving average price is $591.15. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.89 and a current ratio of 2.10.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, August 20th. The industrial products company reported $5.10 EPS for the quarter, beating analysts’ consensus estimates of $4.69 by $0.41. Deere & Company had a net margin of 10.16% and a return on equity of 18.10%. The firm had revenue of $12.61 billion during the quarter, compared to analysts’ expectations of $10.81 billion. During the same quarter last year, the company posted $4.75 earnings per share. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. Equities analysts expect that Deere & Company will post 18.23 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Mowery & Schoenfeld Wealth Management LLC bought a new position in shares of Deere & Company in the 2nd quarter valued at $27,000. Kilter Group LLC acquired a new position in Deere & Company in the 2nd quarter valued at approximately $29,000. Timmons Wealth Management LLC bought a new position in Deere & Company during the 4th quarter worth $29,000. McIlrath & Eck LLC acquired a new position in shares of Deere & Company in the fourth quarter worth approximately $30,000. Finally, Solstein Capital LLC acquired a new position in shares of Deere & Company in the 2nd quarter worth approximately $30,000. 68.58% of the stock is owned by institutional investors.

About Deere & Company

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.