Evercore ISI Forecasts Strong Price Appreciation for Deere & Company (NYSE:DE) Stock

Deere & Company (NYSE:DE) had its price objective increased by research analysts at Evercore ISI from $437.00 to $455.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has an “in-line” rating on the industrial products company’s stock. Evercore ISI’s price objective would indicate a potential downside of 8.32% from the stock’s previous close.

DE has been the topic of several other reports. Barclays lifted their price target on Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. UBS Group lifted their price target on Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Morgan Stanley lifted their price objective on Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. Jefferies Financial Group lowered Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price objective on the stock. in a report on Friday, December 6th. Finally, JPMorgan Chase & Co. lifted their price objective on Deere & Company from $470.00 to $500.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $454.65.

Deere & Company Stock Performance

Shares of NYSE DE opened at $496.28 on Wednesday. The company has a quick ratio of 1.98, a current ratio of 2.22 and a debt-to-equity ratio of 1.94. The business’s 50 day moving average is $451.08 and its two-hundred day moving average is $419.90. The company has a market cap of $135.16 billion, a P/E ratio of 22.00, a P/E/G ratio of 2.17 and a beta of 0.98. Deere & Company has a 12 month low of $340.20 and a 12 month high of $515.05.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, February 13th. The industrial products company reported $3.19 EPS for the quarter, topping the consensus estimate of $3.14 by $0.05. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. On average, equities analysts expect that Deere & Company will post 19.3 EPS for the current year.

Insider Activity at Deere & Company

In other Deere & Company news, insider Rajesh Kalathur sold 24,580 shares of Deere & Company stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $500.61, for a total value of $12,304,993.80. Following the completion of the transaction, the insider now owns 74,878 shares in the company, valued at approximately $37,484,675.58. The trade was a 24.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.29% of the stock is owned by insiders.

Hedge Funds Weigh In On Deere & Company

Several institutional investors have recently bought and sold shares of DE. Ledyard National Bank raised its position in Deere & Company by 3.3% in the 3rd quarter. Ledyard National Bank now owns 1,231 shares of the industrial products company’s stock valued at $514,000 after purchasing an additional 39 shares during the last quarter. Calton & Associates Inc. bought a new position in Deere & Company in the 3rd quarter valued at $270,000. Fortis Group Advisors LLC raised its position in Deere & Company by 357.8% in the 3rd quarter. Fortis Group Advisors LLC now owns 618 shares of the industrial products company’s stock valued at $258,000 after purchasing an additional 483 shares during the last quarter. Sequoia Financial Advisors LLC raised its position in Deere & Company by 153.4% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 15,077 shares of the industrial products company’s stock valued at $6,292,000 after purchasing an additional 9,128 shares during the last quarter. Finally, Eastern Bank raised its position in Deere & Company by 293.7% in the 3rd quarter. Eastern Bank now owns 4,059 shares of the industrial products company’s stock valued at $1,694,000 after purchasing an additional 3,028 shares during the last quarter. 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.