Deere & Company (NYSE:DE) Price Target Cut to $445.00 by Analysts at Robert W. Baird

Posted by admin on May 26th, 2023

Deere & Company (NYSE:DE – Get Rating) had its price objective lowered by Robert W. Baird from $512.00 to $445.00 in a research note published on Monday morning, The Fly reports.

A number of other research firms also recently weighed in on DE. Daiwa Capital Markets started coverage on Deere & Company in a research report on Wednesday, March 29th. They issued an outperform rating and a $440.00 target price for the company. Deutsche Bank Aktiengesellschaft cut their target price on Deere & Company from $449.00 to $440.00 in a research report on Friday, May 12th. Evercore ISI cut their target price on Deere & Company from $455.00 to $418.00 in a research report on Tuesday, May 9th. Wells Fargo & Company cut their target price on Deere & Company from $510.00 to $490.00 in a research report on Monday. Finally, Sanford C. Bernstein cut their target price on Deere & Company from $398.00 to $367.00 in a research report on Monday, May 15th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, Deere & Company has an average rating of Moderate Buy and an average price target of $443.86.

Deere & Company Stock Performance

Shares of DE stock opened at $354.88 on Monday. Deere & Company has a 12-month low of $283.81 and a 12-month high of $448.40. The firm has a market capitalization of $105.16 billion, a price-to-earnings ratio of 11.91, a price-to-earnings-growth ratio of 0.89 and a beta of 1.03. The business has a 50 day simple moving average of $382.18 and a 200 day simple moving average of $408.66. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.96 and a quick ratio of 1.70.

Deere & Company (NYSE:DE – Get Rating) last issued its quarterly earnings data on Friday, May 19th. The industrial products company reported $9.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.57 by $1.08. Deere & Company had a return on equity of 43.11% and a net margin of 15.00%. The business had revenue of $16.08 billion during the quarter, compared to analyst estimates of $14.87 billion. During the same period in the prior year, the company posted $6.81 EPS. The business’s revenue for the quarter was up 33.6% compared to the same quarter last year. On average, equities research analysts anticipate that Deere & Company will post 31.58 EPS for the current year.

Hedge Funds Weigh In On Deere & Company

A number of hedge funds have recently modified their holdings of DE. RB Capital Management LLC increased its stake in shares of Deere & Company by 5.2% in the first quarter. RB Capital Management LLC now owns 1,637 shares of the industrial products company’s stock worth $680,000 after acquiring an additional 81 shares during the last quarter. Bornite Capital Management LP acquired a new position in shares of Deere & Company in the first quarter worth $14,541,000. Retirement Income Solutions Inc acquired a new position in shares of Deere & Company in the first quarter worth $229,000. Sequoia Financial Advisors LLC increased its stake in shares of Deere & Company by 27.1% in the first quarter. Sequoia Financial Advisors LLC now owns 2,442 shares of the industrial products company’s stock worth $1,014,000 after acquiring an additional 521 shares during the last quarter. Finally, Baird Financial Group Inc. increased its position in Deere & Company by 32.4% during the first quarter. Baird Financial Group Inc. now owns 114,322 shares of the industrial products company’s stock worth $47,496,000 after buying an additional 27,985 shares during the last quarter. 75.72% of the stock is owned by institutional investors and hedge funds.

About Deere & Company

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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.