Morgan Stanley Cuts Deere & Company (NYSE:DE) Price Target to $425.00

Deere & Company (NYSE:DE - Get Free Report) had its price target reduced by analysts at Morgan Stanley from $450.00 to $425.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage presently has an "overweight" rating on the industrial products company's stock. Morgan Stanley's price target points to a potential upside of 10.94% from the company's current price.

Other analysts also recently issued research reports about the stock. DA Davidson dropped their target price on shares of Deere & Company from $483.00 to $465.00 and set a "buy" rating for the company in a report on Monday, May 20th. Daiwa Capital Markets lifted their target price on shares of Deere & Company from $400.00 to $420.00 and gave the company an "overweight" rating in a report on Wednesday, May 15th. TD Cowen lifted their target price on shares of Deere & Company from $383.00 to $390.00 and gave the company a "hold" rating in a report on Friday, May 17th. Truist Financial reiterated a "buy" rating and issued a $443.00 target price (up previously from $439.00) on shares of Deere & Company in a report on Friday, August 16th. Finally, HSBC downgraded shares of Deere & Company from a "buy" rating to a "hold" rating in a report on Monday, August 19th. Fourteen analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, Deere & Company currently has an average rating of "Hold" and an average price target of $414.11.

Deere & Company Trading Up 0.5 %

Shares of NYSE DE traded up $1.91 during midday trading on Monday, reaching $383.09. 1,108,276 shares of the stock were exchanged, compared to its average volume of 1,537,415. The company has a 50 day simple moving average of $367.96 and a 200 day simple moving average of $379.87. The stock has a market capitalization of $105.57 billion, a P/E ratio of 11.53, a PEG ratio of 1.59 and a beta of 0.93. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.80 and a current ratio of 2.01. Deere & Company has a twelve month low of $340.20 and a twelve month high of $423.35.

Deere & Company (NYSE:DE - Get Free Report) last announced its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.63 by $0.66. The business had revenue of $11.39 billion during the quarter, compared to the consensus estimate of $10.94 billion. Deere & Company had a net margin of 16.15% and a return on equity of 42.26%. The business's revenue was down 20.3% compared to the same quarter last year. During the same quarter last year, the firm earned $10.20 EPS. As a group, equities analysts expect that Deere & Company will post 25.41 earnings per share for the current year.

Insider Transactions at Deere & Company

In related news, insider Cory J. Reed sold 13,370 shares of the business's stock in a transaction on Monday, June 24th. The shares were sold at an average price of $377.63, for a total value of $5,048,913.10. Following the completion of the sale, the insider now directly owns 41,642 shares of the company's stock, valued at $15,725,268.46. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.26% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Tompkins Financial Corp increased its stake in Deere & Company by 2.6% in the first quarter. Tompkins Financial Corp now owns 981 shares of the industrial products company's stock valued at $403,000 after purchasing an additional 25 shares during the period. Global Retirement Partners LLC increased its stake in shares of Deere & Company by 0.7% during the first quarter. Global Retirement Partners LLC now owns 3,768 shares of the industrial products company's stock worth $1,548,000 after acquiring an additional 26 shares during the period. Blue Chip Partners LLC increased its stake in shares of Deere & Company by 2.3% during the fourth quarter. Blue Chip Partners LLC now owns 1,223 shares of the industrial products company's stock worth $489,000 after acquiring an additional 27 shares during the period. Field & Main Bank increased its stake in shares of Deere & Company by 0.7% during the first quarter. Field & Main Bank now owns 4,050 shares of the industrial products company's stock worth $1,663,000 after acquiring an additional 27 shares during the period. Finally, Range Financial Group LLC increased its stake in shares of Deere & Company by 5.2% during the first quarter. Range Financial Group LLC now owns 548 shares of the industrial products company's stock worth $225,000 after acquiring an additional 27 shares during the period. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Company Profile

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.