UBS Group Lowers Deere & Company (NYSE:DE) Price Target to $440.00

Deere & Company (NYSE:DE) had its price target reduced by equities researchers at UBS Group from $462.00 to $440.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a “neutral” rating on the industrial products company’s stock. UBS Group’s price objective suggests a potential upside of 6.85% from the stock’s current price.

DE has been the topic of a number of other reports. Citigroup increased their target price on shares of Deere & Company from $430.00 to $480.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. Robert W. Baird reiterated a “neutral” rating and set a $501.00 target price on shares of Deere & Company in a research report on Monday, March 3rd. StockNews.com downgraded Deere & Company from a “hold” rating to a “sell” rating in a report on Sunday. Evercore ISI raised their price target on Deere & Company from $437.00 to $455.00 and gave the stock an “in-line” rating in a research note on Wednesday, February 19th. Finally, JPMorgan Chase & Co. boosted their price objective on Deere & Company from $470.00 to $500.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $457.26.

Deere & Company Price Performance

Deere & Company stock opened at $411.80 on Monday. The company has a current ratio of 2.22, a quick ratio of 1.98 and a debt-to-equity ratio of 1.94. The company has a fifty day simple moving average of $472.60 and a 200-day simple moving average of $442.30. The stock has a market cap of $111.77 billion, a P/E ratio of 18.25, a price-to-earnings-growth ratio of 2.14 and a beta of 1.00. Deere & Company has a 12-month low of $340.20 and a 12-month high of $515.05.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, February 13th. The industrial products company reported $3.19 earnings per share (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%. Equities analysts expect that Deere & Company will post 19.32 EPS for the current fiscal year.

Insider Activity

In related news, insider Rajesh Kalathur sold 24,580 shares of the company’s stock in a transaction that occurred 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 sale, the insider now owns 74,878 shares in the company, valued at $37,484,675.58. This represents a 24.71 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.29% of the company’s stock.

Institutional Trading of Deere & Company

Institutional investors have recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Deere & Company during the 4th quarter worth $1,244,094,000. GAMMA Investing LLC raised its position in Deere & Company by 61,215.9% during the first quarter. GAMMA Investing LLC now owns 1,753,022 shares of the industrial products company’s stock worth $822,781,000 after acquiring an additional 1,750,163 shares during the last quarter. Castlekeep Investment Advisors LLC purchased a new stake in shares of Deere & Company in the fourth quarter valued at about $541,437,000. Price T Rowe Associates Inc. MD grew its position in shares of Deere & Company by 19.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,589,760 shares of the industrial products company’s stock valued at $2,792,082,000 after purchasing an additional 1,095,736 shares during the last quarter. Finally, FMR LLC increased its stake in shares of Deere & Company by 22.9% during the 4th quarter. FMR LLC now owns 5,581,408 shares of the industrial products company’s stock worth $2,364,843,000 after purchasing an additional 1,039,395 shares in the last quarter. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

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.