Deere & Company (NYSE:DE) PT Lowered to $490.00 at Wells Fargo & Company

Deere & Company (NYSE:DE – Get Rating) had its price objective reduced by Wells Fargo & Company from $510.00 to $490.00 in a report published on Monday morning, The Fly reports.

Several other research firms have also recently issued reports on DE. Evercore ISI reduced their target price on Deere & Company from $455.00 to $418.00 in a research note on Tuesday, May 9th. Sanford C. Bernstein reduced their target price on Deere & Company from $398.00 to $367.00 in a research note on Monday, May 15th. Bank of America reduced their target price on Deere & Company from $484.00 to $416.00 in a research note on Sunday, May 21st. StockNews.com assumed coverage on Deere & Company in a research note on Thursday, May 18th. They set a buy rating on the stock. Finally, Argus lifted their price target on Deere & Company from $475.00 to $485.00 and gave the company a buy rating in a research report on Tuesday, February 21st. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $443.86.

Deere & Company Price Performance

Shares of Deere & Company stock opened at $354.88 on Monday. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.96 and a quick ratio of 1.70. The business’s 50 day simple moving average is $382.18 and its two-hundred day simple moving average is $408.66. The stock has a market capitalization of $105.16 billion, a P/E ratio of 11.91, a price-to-earnings-growth ratio of 0.89 and a beta of 1.03. Deere & Company has a one year low of $283.81 and a one year high of $448.40.

Deere & Company (NYSE:DE – Get Rating) last announced its quarterly earnings results on Friday, May 19th. The industrial products company reported $9.65 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 for the quarter, compared to analysts’ expectations of $14.87 billion. During the same period in the previous year, the firm earned $6.81 EPS. The business’s quarterly revenue was up 33.6% on a year-over-year basis. Analysts forecast that Deere & Company will post 31.58 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Paragon Wealth Strategies LLC purchased a new position in shares of Deere & Company in the fourth quarter worth $26,000. University of Texas Texas AM Investment Managment Co. raised its stake in shares of Deere & Company by 1,475.0% in the first quarter. University of Texas Texas AM Investment Managment Co. now owns 63 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 59 shares during the last quarter. Lansing Street Advisors increased its position in Deere & Company by 1,725.0% during the first quarter. Lansing Street Advisors now owns 73 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 69 shares during the last quarter. Marshall & Sullivan Inc. WA purchased a new stake in Deere & Company during the fourth quarter valued at $32,000. Finally, Barrett & Company Inc. purchased a new stake in Deere & Company during the first quarter valued at $31,000. Hedge funds and other institutional investors own 75.72% of the company’s stock.

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.