Deere & Company (NYSE:DE) Price Target Raised to $590.00 at JPMorgan Chase & Co.

Deere & Company (NYSE:DE) had its price objective increased by equities researchers at JPMorgan Chase & Co. from $560.00 to $590.00 in a research report issued on Thursday,MarketScreener reports. The brokerage currently has a “neutral” rating on the industrial products company’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential downside of 0.73% from the stock’s previous close.

Other equities analysts have also issued research reports about the company. Sanford C. Bernstein upped their price target on Deere & Company from $521.00 to $615.00 and gave the stock a “market perform” rating in a research note on Friday, February 20th. Argus increased their target price on shares of Deere & Company from $540.00 to $700.00 and gave the company a “buy” rating in a report on Tuesday, March 3rd. Citigroup reduced their price target on shares of Deere & Company from $625.00 to $595.00 and set a “neutral” rating for the company in a research report on Friday, May 22nd. Morgan Stanley boosted their price target on Deere & Company from $560.00 to $730.00 and gave the stock an “overweight” rating in a research note on Monday, February 23rd. Finally, Robert W. Baird lowered their price target on Deere & Company from $580.00 to $525.00 and set a “neutral” rating on the stock in a report on Friday, May 22nd. Fifteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $639.58.

Deere & Company Stock Up 1.0%

NYSE DE opened at $594.34 on Thursday. The business’s fifty day simple moving average is $572.57 and its 200-day simple moving average is $544.51. The firm has a market cap of $160.44 billion, a PE ratio of 33.67, a P/E/G ratio of 2.15 and a beta of 0.92. Deere & Company has a 52 week low of $433.00 and a 52 week high of $674.19. The company has a quick ratio of 1.95, a current ratio of 2.18 and a debt-to-equity ratio of 1.54.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.70 by $0.85. The company had revenue of $13.37 billion for the quarter, compared to analyst estimates of $11.55 billion. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $6.64 earnings per share. As a group, equities analysts anticipate that Deere & Company will post 18.08 earnings per share for the current year.

Institutional Trading of Deere & Company

A number of hedge funds and other institutional investors have recently modified their holdings of DE. Strategic Advocates LLC acquired a new position in Deere & Company during the 3rd quarter valued at approximately $25,000. Key Capital Management INC acquired a new stake in Deere & Company during the fourth quarter valued at approximately $27,000. Timmons Wealth Management LLC acquired a new stake in shares of Deere & Company during the 4th quarter valued at $29,000. McIlrath & Eck LLC purchased a new stake in shares of Deere & Company during the fourth quarter valued at $30,000. Finally, Portus Wealth Advisors LLC acquired a new position in shares of Deere & Company in the 1st quarter valued at $32,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

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.