Deere & Company (NYSE:DE) Earns “Outperform” Rating from Royal Bank Of Canada

Deere & Company (NYSE:DE)‘s stock had its “outperform” rating restated by research analysts at Royal Bank Of Canada in a research note issued on Monday,Benzinga reports. They presently have a $752.00 target price on the industrial products company’s stock. Royal Bank Of Canada’s price target would indicate a potential upside of 16.05% from the stock’s previous close.

A number of other brokerages also recently issued reports on DE. Weiss Ratings reissued a “hold (c+)” rating on shares of Deere & Company in a research note on Tuesday, August 18th. Seaport Research Partners set a $570.00 target price on shares of Deere & Company in a report on Friday, August 14th. Barclays reiterated an “overweight” rating and set a $675.00 price target on shares of Deere & Company in a research report on Monday. Citigroup upped their price target on Deere & Company from $610.00 to $650.00 and gave the stock a “neutral” rating in a report on Friday. Finally, UBS Group cut their price objective on Deere & Company from $732.00 to $728.00 and set a “buy” rating for the company in a research report on Friday. Fourteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, Deere & Company currently has an average rating of “Moderate Buy” and an average target price of $645.12.

Deere & Company Trading Up 0.1%

Shares of Deere & Company stock opened at $648.00 on Monday. The company’s fifty day moving average is $606.90 and its two-hundred day moving average is $591.15. Deere & Company has a 1 year low of $433.00 and a 1 year high of $674.19. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.89 and a current ratio of 2.10. The company has a market capitalization of $174.92 billion, a P/E ratio of 36.00, a PEG ratio of 2.74 and a beta of 0.90.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, August 20th. The industrial products company reported $5.10 EPS for the quarter, topping 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 company had revenue of $12.61 billion during the quarter, compared to the consensus estimate of $10.81 billion. During the same quarter in the prior year, the firm earned $4.75 EPS. Deere & Company’s quarterly revenue was up 6.2% on a year-over-year basis. Analysts forecast that Deere & Company will post 18.23 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of DE. California State Teachers Retirement System lifted its holdings in Deere & Company by 60,460.4% in the second quarter. California State Teachers Retirement System now owns 234,586,018 shares of the industrial products company’s stock worth $148,804,949,000 after acquiring an additional 234,198,659 shares during the last quarter. BlackRock Inc. bought a new position in shares of Deere & Company during the second quarter valued at approximately $11,763,504,000. Norges Bank acquired a new stake in shares of Deere & Company during the 4th quarter worth approximately $1,715,633,000. Capital World Investors increased its position in Deere & Company by 53.9% in the fourth quarter. Capital World Investors now owns 9,592,004 shares of the industrial products company’s stock worth $4,465,906,000 after buying an additional 3,358,264 shares during the period. Finally, Bank of America Corp DE bought a new stake in Deere & Company in the 2nd quarter valued at about $1,685,093,000. 68.58% of the stock is 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.