Deere & Company (NYSE:DE) Receives “Buy” Rating from Truist Financial

Deere & Company (NYSE:DE)‘s stock had its “buy” rating reissued by equities research analysts at Truist Financial in a note issued to investors on Friday,Benzinga reports. They currently have a $546.00 price objective on the industrial products company’s stock, down from their prior price objective of $550.00. Truist Financial’s target price indicates a potential upside of 13.71% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the company. JPMorgan Chase & Co. lifted their target price on Deere & Company from $470.00 to $500.00 and gave the company a “neutral” rating in a research report on Monday, February 10th. Oppenheimer lifted their price objective on Deere & Company from $477.00 to $507.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. Morgan Stanley lifted their price objective on Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a research note on Monday, November 25th. UBS Group lifted their price objective on Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Finally, Jefferies Financial Group cut Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price objective for the company. in a research note on Friday, December 6th. Eleven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Deere & Company has a consensus rating of “Hold” and a consensus price target of $448.72.

Deere & Company Price Performance

NYSE:DE opened at $480.17 on Friday. Deere & Company has a 52 week low of $340.20 and a 52 week high of $485.84. The company has a quick ratio of 1.90, a current ratio of 2.09 and a debt-to-equity ratio of 1.89. The company has a market capitalization of $130.77 billion, a P/E ratio of 18.76, a P/E/G ratio of 2.87 and a beta of 0.98. The stock’s fifty day moving average is $446.95 and its two-hundred day moving average is $416.21.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, February 13th. The industrial products company reported $3.19 EPS for the quarter, beating analysts’ consensus estimates of $3.14 by $0.05. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. Equities analysts expect that Deere & Company will post 19.38 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. South Plains Financial Inc. acquired a new position in shares of Deere & Company during the 4th quarter worth about $844,000. Blue Rock Wealth Management LLC acquired a new position in shares of Deere & Company during the 4th quarter worth about $257,000. Eagle Strategies LLC lifted its holdings in shares of Deere & Company by 5.8% in the 4th quarter. Eagle Strategies LLC now owns 1,505 shares of the industrial products company’s stock valued at $638,000 after purchasing an additional 82 shares during the last quarter. Rehmann Capital Advisory Group lifted its holdings in shares of Deere & Company by 87.8% in the 4th quarter. Rehmann Capital Advisory Group now owns 3,211 shares of the industrial products company’s stock valued at $1,361,000 after purchasing an additional 1,501 shares during the last quarter. Finally, Talon Private Wealth LLC purchased a new stake in shares of Deere & Company in the 4th quarter valued at about $247,000. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Company Profile

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.