Deere & Company (NYSE:DE) Price Target Cut to $450.00 by Analysts at Citigroup

Deere & Company (NYSE:DE) had its price target decreased by Citigroup from $480.00 to $450.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the industrial products company’s stock. Citigroup’s price target indicates a potential upside of 9.28% from the company’s previous close.

Several other research firms have also recently issued reports on DE. Baird R W cut Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, March 3rd. Oppenheimer lifted their price target on shares of Deere & Company from $477.00 to $507.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. JPMorgan Chase & Co. increased their price objective on shares of Deere & Company from $470.00 to $500.00 and gave the company a “neutral” rating in a report on Monday, February 10th. Evercore ISI upped their target price 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. Finally, Robert W. Baird reissued a “neutral” rating and issued a $501.00 price target on shares of Deere & Company in a research note on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Deere & Company presently has an average rating of “Hold” and an average price target of $457.26.

Deere & Company Price Performance

Shares of NYSE:DE traded down $11.55 during midday trading on Tuesday, reaching $411.80. The company’s stock had a trading volume of 1,815,977 shares, compared to its average volume of 1,425,829. The business’s fifty day simple moving average is $475.31 and its 200-day simple moving average is $442.47. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.22 and a quick ratio of 1.98. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $515.05. The company has a market capitalization of $111.77 billion, a P/E ratio of 18.25, a P/E/G ratio of 2.14 and a beta of 1.00.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share (EPS) for the quarter, topping 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%. As a group, equities research analysts expect that Deere & Company will post 19.32 EPS for the current fiscal year.

Insider Transactions at Deere & Company

In related news, insider Rajesh Kalathur sold 24,580 shares of the company’s stock in a transaction dated 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 sale, the insider now owns 74,878 shares in the company, valued at approximately $37,484,675.58. This represents a 24.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.29% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Deere & Company

A number of institutional investors and hedge funds have recently made changes to their positions in DE. BTC Capital Management Inc. raised its stake in Deere & Company by 0.8% in the first quarter. BTC Capital Management Inc. now owns 21,273 shares of the industrial products company’s stock valued at $9,986,000 after buying an additional 175 shares during the period. Welch Group LLC raised its position in Deere & Company by 1.6% during the first quarter. Welch Group LLC now owns 25,125 shares of the industrial products company’s stock valued at $11,691,000 after purchasing an additional 397 shares in the last quarter. Parallel Advisors LLC increased its stake in shares of Deere & Company by 9.9% in the first quarter. Parallel Advisors LLC now owns 3,270 shares of the industrial products company’s stock valued at $1,535,000 after buying an additional 295 shares during the period. GAMMA Investing LLC boosted its position in Deere & Company by 61,215.9% during the 1st quarter. GAMMA Investing LLC now owns 1,753,022 shares of the industrial products company’s stock worth $822,781,000 after buying an additional 1,750,163 shares during the period. Finally, AdvisorNet Financial Inc lifted its holdings in shares of Deere & Company by 11.3% during the first quarter. AdvisorNet Financial Inc now owns 1,535 shares of the industrial products company’s stock worth $721,000 after purchasing an additional 156 shares during the period. Institutional investors own 68.58% of the company’s stock.

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.