Deere & Company (NYSE:DE) Given New $715.00 Price Target at Bank of America

Deere & Company (NYSE:DE) had its price objective lifted by analysts at Bank of America from $667.00 to $715.00 in a research note issued to investors on Thursday. Bank of America‘s target price indicates a potential upside of 0.79% from the company’s current price.

A number of other research analysts have also recently commented on DE. Raymond James Financial boosted their price objective on Deere & Company from $700.00 to $730.00 and gave the stock an “outperform” rating in a research note on Monday, August 31st. UBS Group decreased their price target on Deere & Company from $732.00 to $728.00 and set a “buy” rating for the company in a report on Friday, August 21st. CICC Research started coverage on shares of Deere & Company in a research note on Sunday, September 13th. They issued an “outperform” rating for the company. DA Davidson boosted their price objective on shares of Deere & Company from $685.00 to $760.00 and gave the stock a “buy” rating in a report on Monday, August 24th. Finally, Evercore upgraded Deere & Company from an “in-line” rating to an “outperform” rating and set a $813.00 target price for the company in a research note on Wednesday, September 2nd. Seventeen research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $686.10.

Deere & Company Trading Up 0.9%

NYSE DE opened at $709.40 on Thursday. The firm has a market capitalization of $191.27 billion, a price-to-earnings ratio of 39.41, a PEG ratio of 2.90 and a beta of 0.90. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.89 and a current ratio of 2.10. Deere & Company has a one year low of $433.00 and a one year high of $721.22. The company’s 50 day moving average price is $639.19 and its 200 day moving average price is $601.78.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, August 20th. The industrial products company reported $5.10 EPS for the quarter, beating analysts’ consensus estimates of $4.69 by $0.41. The business had revenue of $12.61 billion for the quarter, compared to the consensus estimate of $10.81 billion. Deere & Company had a net margin of 10.16% and a return on equity of 18.10%. The business’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter last year, the firm posted $4.75 EPS. On average, sell-side analysts predict that Deere & Company will post 18.12 EPS for the current year.

Institutional Trading of Deere & Company

Hedge funds and other institutional investors have recently bought and sold shares of the company. QRG Capital Management Inc. grew its position in shares of Deere & Company by 3.7% in the 2nd quarter. QRG Capital Management Inc. now owns 15,258 shares of the industrial products company’s stock worth $9,679,000 after acquiring an additional 538 shares in the last quarter. Security National Bank of SO Dak acquired a new stake in shares of Deere & Company during the 2nd quarter valued at approximately $42,000. Bouchey Financial Group Ltd. lifted its stake in Deere & Company by 9.3% during the second quarter. Bouchey Financial Group Ltd. now owns 812 shares of the industrial products company’s stock worth $516,000 after purchasing an additional 69 shares during the last quarter. Sequoia Financial Advisors LLC lifted its stake in Deere & Company by 14.1% during the second quarter. Sequoia Financial Advisors LLC now owns 18,385 shares of the industrial products company’s stock worth $11,662,000 after purchasing an additional 2,266 shares during the last quarter. Finally, MCF Advisors LLC boosted its holdings in Deere & Company by 0.9% in the second quarter. MCF Advisors LLC now owns 1,999 shares of the industrial products company’s stock worth $1,271,000 after purchasing an additional 17 shares during the period. 68.58% of the stock is owned by institutional investors.

Deere & Company Company Profile

Deere & Company, operating under the John Deere brand, is a global manufacturer of agricultural, construction, forestry and turf-care equipment. Its products include tractors, combines, harvesters, planters, sprayers, loaders, excavators, skid steers, forestry machines, commercial mowing equipment and compact utility tractors. The company also develops precision agriculture and construction technologies, including machine guidance, automation, data-management and connected-equipment solutions.

Founded by blacksmith John Deere in 1837, the company has grown from its original steel plow business into a diversified equipment and technology provider.