Deere & Company (NYSE:DE) Given New $812.00 Price Target at Truist Financial

Deere & Company (NYSE:DE) had its price objective boosted by analysts at Truist Financial from $759.00 to $812.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the industrial products company’s stock. Truist Financial’s price objective indicates a potential upside of 29.13% from the company’s previous close.

A number of other research analysts have also weighed in on DE. Robert W. Baird decreased their price objective on Deere & Company from $580.00 to $525.00 and set a “neutral” rating on the stock in a report on Friday, May 22nd. Raymond James Financial cut their price objective on shares of Deere & Company from $765.00 to $700.00 and set an “outperform” rating for the company in a report on Friday, May 22nd. Royal Bank Of Canada restated an “outperform” rating and set a $752.00 target price on shares of Deere & Company in a report on Monday, June 1st. Wolfe Research upped their price target on Deere & Company from $550.00 to $660.00 and gave the company an “outperform” rating in a research report on Tuesday, March 31st. Finally, DA Davidson cut their price target on Deere & Company from $775.00 to $685.00 and set a “buy” rating for the company in a report on Friday, May 22nd. Fourteen investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, Deere & Company has a consensus rating of “Moderate Buy” and a consensus target price of $642.23.

Deere & Company Trading Down 0.9%

DE stock opened at $628.84 on Thursday. The company has a current ratio of 2.18, a quick ratio of 1.95 and a debt-to-equity ratio of 1.54. Deere & Company has a 12-month low of $433.00 and a 12-month high of $674.19. The stock has a market cap of $169.75 billion, a price-to-earnings ratio of 35.63, a PEG ratio of 2.35 and a beta of 0.89. The business’s 50-day moving average is $576.92 and its 200 day moving average is $561.32.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, May 21st. The industrial products company reported $6.55 EPS for the quarter, beating analysts’ consensus estimates of $5.70 by $0.85. The business had revenue of $13.37 billion during the quarter, compared to analysts’ expectations of $11.55 billion. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The business’s revenue was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $6.64 earnings per share. On average, sell-side analysts anticipate that Deere & Company will post 18.13 EPS for the current fiscal year.

Hedge Funds Weigh In On Deere & Company

Several large investors have recently made changes to their positions in the stock. Brighton Jones LLC raised its position in Deere & Company by 39.1% in the fourth quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company’s stock valued at $1,927,000 after purchasing an additional 1,278 shares during the period. Schnieders Capital Management LLC. lifted its stake in Deere & Company by 7.8% during the 2nd quarter. Schnieders Capital Management LLC. now owns 2,076 shares of the industrial products company’s stock worth $1,056,000 after acquiring an additional 150 shares in the last quarter. Jump Financial LLC purchased a new position in Deere & Company during the 2nd quarter valued at about $2,153,000. NewEdge Advisors LLC grew its position in Deere & Company by 6.0% in the 2nd quarter. NewEdge Advisors LLC now owns 18,758 shares of the industrial products company’s stock valued at $9,538,000 after acquiring an additional 1,067 shares in the last quarter. Finally, Main Street Financial Solutions LLC increased its stake in Deere & Company by 6.7% during the second quarter. Main Street Financial Solutions LLC now owns 1,551 shares of the industrial products company’s stock worth $789,000 after purchasing an additional 97 shares during the period. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Company Profile

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.