Deere & Company (NYSE:DE) Stock Price Expected to Rise, UBS Group Analyst Says

Market Beat
2024.11.23 22:33

UBS Group has raised its price target for Deere & Company (NYSE:DE) from an unspecified amount to another unspecified amount, maintaining a "neutral" rating. The new target suggests a potential upside of 3.44% from the previous close. Other brokerages have also adjusted their ratings, with Morgan Stanley setting an "overweight" rating and Deutsche Bank a "hold" rating. Currently, 13 analysts rate the stock as a hold and 9 as a buy, with an average target price of an unspecified amount. The stock traded up during mid-day on Friday, with a market cap of an unspecified amount.

Deere & Company (NYSE:DE - Get Free Report) had its price objective increased by equities researchers at UBS Group from $404.00 to $462.00 in a report released on Friday,Benzinga reports. The firm currently has a "neutral" rating on the industrial products company's stock. UBS Group's target price suggests a potential upside of 3.44% from the stock's previous close.

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Several other brokerages have also issued reports on DE. Morgan Stanley decreased their price target on Deere & Company from $450.00 to $425.00 and set an "overweight" rating on the stock in a research note on Monday, August 26th. Deutsche Bank Aktiengesellschaft cut their target price on Deere & Company from $402.00 to $389.00 and set a "hold" rating on the stock in a report on Thursday, August 8th. Truist Financial boosted their price objective on Deere & Company from $496.00 to $538.00 and gave the company a "buy" rating in a research note on Friday. HSBC downgraded Deere & Company from a "buy" rating to a "hold" rating in a research note on Monday, August 19th. Finally, Bank of America boosted their price objective on Deere & Company from $400.00 to $410.00 and gave the company a "neutral" rating in a research note on Friday, August 16th. Thirteen investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Deere & Company has an average rating of "Hold" and an average target price of $431.61.

Read Our Latest Report on Deere & Company

Deere & Company Stock Performance

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Shares of DE traded up $9.11 during mid-day trading on Friday, reaching $446.65. The company's stock had a trading volume of 2,129,180 shares, compared to its average volume of 1,445,351. The stock has a market cap of $122.20 billion, a P/E ratio of 15.24, a PEG ratio of 1.54 and a beta of 0.93. The business has a 50-day simple moving average of $405.95 and a two-hundred day simple moving average of $386.18. The company has a current ratio of 2.07, a quick ratio of 1.87 and a debt-to-equity ratio of 1.85. Deere & Company has a 1-year low of $340.20 and a 1-year high of $447.50.

Deere & Company (NYSE:DE - Get Free Report) last released its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, topping the consensus estimate of $3.90 by $0.65. The business had revenue of $9.28 billion during the quarter, compared to analysts' expectations of $9.20 billion. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The firm's revenue for the quarter was down 32.8% compared to the same quarter last year. During the same period last year, the firm posted $8.26 EPS. As a group, equities research analysts anticipate that Deere & Company will post 25 earnings per share for the current fiscal year.

Institutional Trading of Deere & Company

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Institutional investors and hedge funds have recently bought and sold shares of the stock. 1832 Asset Management L.P. increased its position in shares of Deere & Company by 67.3% during the first quarter. 1832 Asset Management L.P. now owns 3,313 shares of the industrial products company's stock valued at $1,361,000 after acquiring an additional 1,333 shares in the last quarter. BOKF NA increased its position in shares of Deere & Company by 3.2% during the first quarter. BOKF NA now owns 10,316 shares of the industrial products company's stock valued at $4,169,000 after acquiring an additional 320 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Deere & Company by 8.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,470,159 shares of the industrial products company's stock valued at $603,854,000 after acquiring an additional 114,116 shares in the last quarter. Aristides Capital LLC bought a new stake in shares of Deere & Company during the first quarter valued at approximately $205,000. Finally, Mount Yale Investment Advisors LLC grew its position in Deere & Company by 43.1% in the 1st quarter. Mount Yale Investment Advisors LLC now owns 1,965 shares of the industrial products company's stock worth $807,000 after purchasing an additional 592 shares during the period. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Company Profile

(Get Free Report)

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.

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