Deere & Company (NYSE:DE) Price Target Cut to $430.00 by Analysts at Citigroup

Deere & Company (NYSE:DE - Get Free Report) had its target price reduced by analysts at Citigroup from $470.00 to $430.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a "neutral" rating on the industrial products company's stock. Citigroup's price target would indicate a potential downside of 0.50% from the company's previous close.

Several other research analysts also recently commented on the company. Jefferies Financial Group downgraded 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. Truist Financial lifted their price objective on Deere & Company from $538.00 to $550.00 and gave the company a "buy" rating in a report on Thursday, December 19th. JPMorgan Chase & Co. upped their price objective on shares of Deere & Company from $420.00 to $450.00 and gave the stock a "neutral" rating in a research note on Friday, November 22nd. Morgan Stanley raised their target price on shares of Deere & Company from $401.00 to $450.00 and gave the company an "overweight" rating in a research report on Monday, November 25th. Finally, Oppenheimer upped their price target on shares of Deere & Company from $448.00 to $477.00 and gave the stock an "outperform" rating in a research report on Friday, November 22nd. Eleven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $441.72.

Deere & Company Price Performance

DE stock traded up $2.26 during mid-day trading on Tuesday, hitting $432.17. The company had a trading volume of 1,223,784 shares, compared to its average volume of 1,246,434. The company has a 50-day moving average price of $429.20 and a 200 day moving average price of $400.87. Deere & Company has a 12-month low of $340.20 and a 12-month high of $469.39. The company has a market capitalization of $118.24 billion, a price-to-earnings ratio of 16.88, a P/E/G ratio of 1.88 and a beta of 0.96. The company has a quick ratio of 1.90, a current ratio of 2.09 and a debt-to-equity ratio of 1.89.

Deere & Company (NYSE:DE - Get Free Report) last posted its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.89 by $0.66. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The business had revenue of $9.28 billion during the quarter, compared to analyst estimates of $9.20 billion. During the same period last year, the company earned $8.26 EPS. The company's revenue for the quarter was down 32.8% on a year-over-year basis. On average, research analysts anticipate that Deere & Company will post 19.41 earnings per share for the current year.

Hedge Funds Weigh In On Deere & Company

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Fairscale Capital LLC purchased a new position in shares of Deere & Company during the 2nd quarter worth $26,000. Livelsberger Financial Advisory purchased a new position in Deere & Company during the third quarter worth about $32,000. Modus Advisors LLC purchased a new position in Deere & Company during the fourth quarter worth about $32,000. Centennial Bank AR boosted its holdings in Deere & Company by 420.0% in the 2nd quarter. Centennial Bank AR now owns 104 shares of the industrial products company's stock valued at $39,000 after purchasing an additional 84 shares during the last quarter. Finally, Continuum Advisory LLC grew its stake in shares of Deere & Company by 155.8% in the 3rd quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company's stock valued at $43,000 after buying an additional 67 shares during the period. 68.58% of the stock is currently owned by institutional investors and hedge funds.

About Deere & Company

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.