Citigroup Issues Positive Forecast for Deere & Company (NYSE:DE) Stock Price

Deere & Company (NYSE:DE) had its target price hoisted by research analysts at Citigroup from $430.00 to $480.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a “neutral” rating on the industrial products company’s stock. Citigroup’s price objective would indicate a potential downside of 0.03% from the company’s current price.

Other equities analysts have also recently issued research reports about the stock. Jefferies Financial Group cut shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price target on the stock. in a research report on Friday, December 6th. Morgan Stanley increased their price target on shares of Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a research report on Monday, November 25th. Truist Financial reaffirmed a “buy” rating and set a $546.00 price target (down previously from $550.00) on shares of Deere & Company in a research report on Friday. Barclays raised their target price on shares of Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Finally, Oppenheimer raised their target price on shares of Deere & Company from $477.00 to $507.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. Eleven analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $448.72.

Deere & Company Stock Performance

NYSE:DE opened at $480.17 on Friday. The company has a debt-to-equity ratio of 1.89, a current ratio of 2.09 and a quick ratio of 1.90. The firm has a 50-day moving average of $446.95 and a two-hundred day moving average of $416.21. The stock has a market cap of $130.77 billion, a P/E ratio of 18.76, a PEG ratio of 2.87 and a beta of 0.98. Deere & Company has a 1-year low of $340.20 and a 1-year high of $485.84.

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Pineridge Advisors LLC increased its stake in shares of Deere & Company by 60.5% during the fourth quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 26 shares during the period. Livelsberger Financial Advisory acquired a new position in shares of Deere & Company during the third quarter valued at approximately $32,000. Modus Advisors LLC acquired a new position in shares of Deere & Company during the fourth quarter valued at approximately $32,000. YANKCOM Partnership acquired a new position in shares of Deere & Company during the fourth quarter valued at approximately $34,000. Finally, Synergy Asset Management LLC acquired a new position in shares of Deere & Company during the fourth quarter valued at approximately $35,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

About Deere & Company

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.