JPMorgan Chase & Co. Cuts Deere & Company (NYSE:DE) Price Target to $460.00

Deere & Company (NYSE:DE) had its target price reduced by equities research analysts at JPMorgan Chase & Co. from $480.00 to $460.00 in a note issued to investors on Friday,MarketScreener reports. The firm currently has a “neutral” rating on the industrial products company’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential downside of 3.03% from the stock’s current price.

Several other research firms have also commented on DE. Wolfe Research cut their target price on shares of Deere & Company from $550.00 to $520.00 and set an “outperform” rating for the company in a research note on Friday, October 3rd. Royal Bank Of Canada decreased their target price on shares of Deere & Company from $542.00 to $541.00 and set an “outperform” rating for the company in a research note on Friday, November 28th. DA Davidson restated a “buy” rating and issued a $580.00 target price on shares of Deere & Company in a research note on Monday, December 1st. Wall Street Zen cut Deere & Company from a “hold” rating to a “sell” rating in a research note on Friday, November 28th. Finally, Wells Fargo & Company initiated coverage on shares of Deere & Company in a research report on Thursday, November 13th. They set an “overweight” rating and a $543.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $522.70.

Deere & Company Trading Down 0.1%

Shares of DE opened at $474.35 on Friday. The stock has a market cap of $128.23 billion, a price-to-earnings ratio of 25.69, a price-to-earnings-growth ratio of 1.81 and a beta of 1.00. The company has a debt-to-equity ratio of 1.68, a current ratio of 2.22 and a quick ratio of 2.01. The firm has a 50 day simple moving average of $470.90 and a 200-day simple moving average of $487.03. Deere & Company has a 1-year low of $403.01 and a 1-year high of $533.78.

Deere & Company (NYSE:DE) last posted its earnings results on Wednesday, November 26th. The industrial products company reported $3.93 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.96 by ($0.03). Deere & Company had a return on equity of 20.54% and a net margin of 11.00%.The business had revenue of $12.39 billion for the quarter, compared to analyst estimates of $9.77 billion. During the same period last year, the company posted $4.55 EPS. The firm’s revenue for the quarter was up 14.1% compared to the same quarter last year. Equities analysts forecast that Deere & Company will post 19.32 EPS for the current fiscal year.

Insiders Place Their Bets

In other Deere & Company news, CEO John C. May II sold 11,106 shares of the firm’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $500.08, for a total transaction of $5,553,888.48. Following the completion of the sale, the chief executive officer owned 112,453 shares of the company’s stock, valued at $56,235,496.24. This trade represents a 8.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.29% of the company’s stock.

Hedge Funds Weigh In On Deere & Company

Several institutional investors and hedge funds have recently added to or reduced their stakes in DE. Mid American Wealth Advisory Group Inc. acquired a new stake in shares of Deere & Company in the second quarter valued at about $25,000. Strategic Advocates LLC bought a new position in Deere & Company in the third quarter worth approximately $25,000. Activest Wealth Management increased its stake in Deere & Company by 2,750.0% during the 1st quarter. Activest Wealth Management now owns 57 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 55 shares in the last quarter. Howard Hughes Medical Institute bought a new position in shares of Deere & Company in the second quarter valued at approximately $27,000. Finally, Wealth Watch Advisors INC bought a new position in shares of Deere & Company during the third quarter valued at about $32,000. 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.