JPMorgan Chase & Co. Issues Positive Forecast for Deere & Company (NYSE:DE) Stock Price

Deere & Company (NYSE:DE) had its price objective increased by JPMorgan Chase & Co. from $470.00 to $500.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a “neutral” rating on the industrial products company’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 7.38% from the stock’s previous close.

A number of other research firms also recently issued reports on DE. Jefferies Financial Group downgraded shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 target price on the stock. in a research report on Friday, December 6th. Oppenheimer increased their price objective on shares of Deere & Company from $477.00 to $507.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. Citigroup lowered their target price on shares of Deere & Company from $470.00 to $430.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. Barclays increased their price target on Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Finally, Truist Financial lifted their price objective on Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Eleven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, Deere & Company has an average rating of “Hold” and an average price target of $446.17.

Deere & Company Stock Performance

DE stock opened at $465.63 on Monday. The company has a 50 day moving average price of $445.00 and a 200 day moving average price of $413.15. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $485.84. 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 stock has a market capitalization of $126.82 billion, a PE ratio of 18.19, a price-to-earnings-growth ratio of 2.87 and a beta of 0.98.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, topping analysts’ consensus estimates of $3.89 by $0.66. The company had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.20 billion. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The firm’s quarterly revenue was down 32.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $8.26 earnings per share. Analysts forecast that Deere & Company will post 19.38 EPS for the current year.

Institutional Investors Weigh In On Deere & Company

Institutional investors have recently added to or reduced their stakes in the stock. Pineridge Advisors LLC raised its stake in shares of Deere & Company by 60.5% in the 4th quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 26 shares during the period. Livelsberger Financial Advisory bought a new position in shares of Deere & Company during the third quarter worth about $32,000. Modus Advisors LLC acquired a new stake in Deere & Company in the 4th quarter valued at approximately $32,000. YANKCOM Partnership acquired a new stake in Deere & Company in the 4th quarter valued at approximately $34,000. Finally, Synergy Asset Management LLC bought a new stake in Deere & Company in the 4th quarter valued at approximately $35,000. 68.58% of the stock is owned by institutional investors.

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.