Deere & Company (NYSE:DE) Given New $477.00 Price Target at Oppenheimer

Deere & Company (NYSE:DE) had its price objective hoisted by stock analysts at Oppenheimer from $448.00 to $477.00 in a note issued to investors on Friday,Briefing.com Automated Import reports. The firm currently has an “outperform” rating on the industrial products company’s stock. Oppenheimer’s price target points to a potential upside of 9.33% from the company’s current price.

Several other equities analysts have also recently issued reports on DE. Hsbc Global Res cut Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, August 19th. Evercore ISI lifted their price objective on Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a report on Monday, August 19th. Bank of America lifted their price objective on Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a report on Friday, August 16th. BMO Capital Markets assumed coverage on Deere & Company in a report on Friday, August 9th. They set a “market perform” rating and a $400.00 price objective for the company. Finally, JPMorgan Chase & Co. lifted their price objective on Deere & Company from $360.00 to $420.00 and gave the stock a “neutral” rating in a report on Friday, October 11th. Twelve equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Deere & Company has a consensus rating of “Hold” and an average target price of $422.50.

Deere & Company Stock Up 7.7 %

DE opened at $436.28 on Friday. The company has a debt-to-equity ratio of 1.85, a current ratio of 2.07 and a quick ratio of 1.87. The business has a 50 day simple moving average of $405.95 and a 200-day simple moving average of $386.18. The stock has a market capitalization of $119.37 billion, a P/E ratio of 14.89, a P/E/G 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.

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

Institutional Investors Weigh In On Deere & Company

A number of hedge funds and other institutional investors have recently made changes to their positions in DE. Wellington Management Group LLP grew its position in Deere & Company by 32.0% during the third quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company’s stock valued at $3,068,404,000 after acquiring an additional 1,782,984 shares during the period. Geode Capital Management LLC grew its position in Deere & Company by 0.6% during the third quarter. Geode Capital Management LLC now owns 5,208,368 shares of the industrial products company’s stock valued at $2,168,737,000 after acquiring an additional 31,459 shares during the period. FMR LLC grew its position in Deere & Company by 27.8% during the third quarter. FMR LLC now owns 4,542,013 shares of the industrial products company’s stock valued at $1,895,518,000 after acquiring an additional 988,380 shares during the period. Janus Henderson Group PLC grew its position in Deere & Company by 0.5% during the first quarter. Janus Henderson Group PLC now owns 3,859,021 shares of the industrial products company’s stock valued at $1,585,028,000 after acquiring an additional 19,200 shares during the period. Finally, Legal & General Group Plc grew its position in Deere & Company by 2.7% during the second quarter. Legal & General Group Plc now owns 2,254,266 shares of the industrial products company’s stock valued at $842,259,000 after acquiring an additional 60,255 shares during the period. Hedge funds and other 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.