Deere & Company (NYSE:DE) Price Target Cut to $440.00 by Analysts at UBS Group

Deere & Company (NYSE:DE) had its price target dropped by equities researchers at UBS Group from $462.00 to $440.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “neutral” rating on the industrial products company’s stock. UBS Group’s price objective would indicate a potential upside of 4.12% from the stock’s previous close.

DE has been the subject of several other research reports. Truist Financial reissued 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, February 14th. StockNews.com lowered Deere & Company from a “hold” rating to a “sell” rating in a research report on Sunday. Evercore ISI lifted their price target on shares of Deere & Company from $437.00 to $455.00 and gave the company an “in-line” rating in a research report on Wednesday, February 19th. Citigroup upped their price target on shares of Deere & Company from $430.00 to $480.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Deere & Company from $470.00 to $500.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $458.84.

Deere & Company Stock Performance

Shares of DE traded down $7.28 during mid-day trading on Monday, reaching $422.58. 1,806,308 shares of the company’s stock were exchanged, compared to its average volume of 1,419,733. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.22 and a quick ratio of 1.98. The stock has a market capitalization of $114.69 billion, a PE ratio of 18.73, a price-to-earnings-growth ratio of 2.14 and a beta of 1.00. Deere & Company has a 52-week low of $340.20 and a 52-week high of $515.05. The business’s fifty day simple moving average is $476.55 and its 200-day simple moving average is $442.38.

Deere & Company (NYSE:DE) last announced its quarterly earnings data 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 net margin of 12.94% and a return on equity of 27.31%. On average, equities research analysts expect that Deere & Company will post 19.32 earnings per share for the current year.

Insider Activity

In other news, insider Rajesh Kalathur sold 24,580 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $500.61, for a total transaction of $12,304,993.80. Following the completion of the sale, the insider now owns 74,878 shares in the company, valued at $37,484,675.58. The trade was a 24.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.29% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Deere & Company

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DE. Norges Bank acquired a new position in shares of Deere & Company during the 4th quarter worth $1,244,094,000. Castlekeep Investment Advisors LLC acquired a new stake in Deere & Company during the 4th quarter worth approximately $541,437,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Deere & Company by 19.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,589,760 shares of the industrial products company’s stock worth $2,792,082,000 after purchasing an additional 1,095,736 shares during the period. FMR LLC raised its position in Deere & Company by 22.9% during the 4th quarter. FMR LLC now owns 5,581,408 shares of the industrial products company’s stock worth $2,364,843,000 after purchasing an additional 1,039,395 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Deere & Company in the fourth quarter valued at approximately $296,232,000. 68.58% of the stock is owned by institutional investors and hedge funds.

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.