Deere & Company (NYSE:DE) Upgraded at Melius

by · The Markets Daily

Deere & Company (NYSE:DE – Get Free Report) was upgraded by research analysts at Melius from a “hold” rating to a “buy” rating in a research report issued on Friday,Briefing.com Automated Import reports.

DE has been the topic of a number of other research reports. Morgan Stanley lifted their target price on Deere & Company from $450.00 to $500.00 and gave the company an “overweight” rating in a research report on Wednesday, April 16th. Robert W. Baird raised their price target on Deere & Company from $501.00 to $514.00 and gave the company a “neutral” rating in a research note on Friday, May 16th. UBS Group dropped their price objective on Deere & Company from $462.00 to $440.00 and set a “neutral” rating on the stock in a research note on Monday, April 7th. Citigroup cut their price objective on Deere & Company from $550.00 to $525.00 and set a “neutral” rating for the company in a report on Friday, May 30th. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of Deere & Company in a research note on Thursday, May 15th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $515.19.

Check Out Our Latest Research Report on Deere & Company

Deere & Company Stock Performance

Shares of DE stock opened at $510.57 on Friday. Deere & Company has a 12 month low of $340.20 and a 12 month high of $533.78. The company’s fifty day simple moving average is $478.37 and its 200-day simple moving average is $465.12. The firm has a market cap of $138.28 billion, a PE ratio of 22.63, a P/E/G ratio of 2.14 and a beta of 1.09. The company has a quick ratio of 1.98, a current ratio of 2.22 and a debt-to-equity ratio of 1.94.

Deere & Company (NYSE:DE – Get Free Report) last issued its quarterly earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.72 by $0.92. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. The firm had revenue of $11.17 billion for the quarter, compared to analyst estimates of $10.80 billion. During the same period in the previous year, the business earned $8.53 EPS. The company’s revenue was down 17.9% compared to the same quarter last year. Equities research analysts expect that Deere & Company will post 19.32 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of DE. Vanguard Group Inc. grew its holdings in Deere & Company by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 22,063,590 shares of the industrial products company’s stock valued at $10,355,546,000 after buying an additional 185,671 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Deere & Company by 4.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,876,013 shares of the industrial products company’s stock valued at $3,227,258,000 after acquiring an additional 286,253 shares during the period. Capital World Investors grew its stake in shares of Deere & Company by 2.7% in the fourth quarter. Capital World Investors now owns 6,058,259 shares of the industrial products company’s stock valued at $2,566,884,000 after acquiring an additional 157,224 shares in the last quarter. FMR LLC increased its position in Deere & Company by 22.9% during the fourth quarter. FMR LLC now owns 5,581,408 shares of the industrial products company’s stock worth $2,364,843,000 after acquiring an additional 1,039,395 shares during the period. Finally, Geode Capital Management LLC raised its stake in Deere & Company by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 5,305,571 shares of the industrial products company’s stock worth $2,247,216,000 after purchasing an additional 97,203 shares in the last quarter. 68.58% of the stock is owned by institutional investors.

Deere & Company Company Profile

(Get Free Report)

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.

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