Market Analysts see Deere & Company [DE] gaining to $244. Time to buy?

Deere & Company [NYSE: DE] slipped around -5.08 points on Wednesday, while shares priced at $256.43 at the close of the session, down -1.94%. The company report on November 18, 2020 that John Deere Wins FCC CBRS Auction to Deploy 5G in Manufacturing Facilities.

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Advanced connectivity enables Deere to fully embrace the IoT and revolutionize productivity in factory settings.

John Deere (NYSE: DE) has successfully obtained 5G licenses in five counties in Iowa and Illinois as part of the Federal Communications Commission (FCC) auction for the Citizens Broadband Radio Service (CBRS) 3.5 GHz spectrum. This will enable John Deere to accelerate the availability of 5G in its largest manufacturing facilities in North America.

Deere & Company stock is now 48.00% up from its year-to-date (YTD) trading value. DE Stock saw the intraday high of $265.8673 and lowest of $254.51 per share. The company’s 52-week high price is 265.87, which means current price is +141.60% above from all time high which was touched on 11/09/20.

Compared to the average trading volume of 1.58M shares, DE reached a trading volume of 3025315 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Deere & Company [DE]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for DE shares is $244.29 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on DE stock is a recommendation set at 2.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Bernstein have made an estimate for Deere & Company shares, keeping their opinion on the stock as Mkt Perform, with their previous recommendation back on September 23, 2020. The new note on the price target was released on August 24, 2020, representing the official price target for Deere & Company stock. Previously, the target price had yet another raise from $180 to $215, while Barclays kept a Overweight rating on DE stock. On August 13, 2020, analysts increased their price target for DE shares from 140 to 160.

The Average True Range (ATR) for Deere & Company is set at 6.57, with the Price to Sales ratio for DE stock in the period of the last 12 months amounting to 2.22. The Price to Book ratio for the last quarter was 6.23, with the Price to Cash per share for the same quarter was set at 26.44. Price to Free Cash Flow for DE in the course of the last twelve months was 15.43.

How has DE stock performed recently?

Deere & Company [DE] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.35. With this latest performance, DE shares gained by 12.22% in over the last four-week period, additionally plugging by 68.57% over the last 6 months – not to mention a rise of 45.16% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for DE stock in for the last two-week period is set at 61.58, with the RSI for the last a single of trading hit 58.38, and the three-weeks RSI is set at 61.95 for Deere & Company [DE]. The present Moving Average for the last 50 days of trading for this stock 236.46, while it was recorded at 258.64 for the last single week of trading, and 179.98 for the last 200 days.

Deere & Company [DE]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Deere & Company [DE] shares currently have an operating margin of +14.44 and a Gross Margin at +28.02. Deere & Company’s Net Margin is presently recorded at +8.29.

Return on Total Capital for DE is now 10.27, given the latest momentum, and Return on Invested Capital for the company is 8.12. Return on Equity for this stock inclined to 28.66, with Return on Assets sitting at 4.55. When it comes to the capital structure of this company, Deere & Company [DE] has a Total Debt to Total Equity ratio set at 397.21. Additionally, DE Total Debt to Total Capital is recorded at 79.89, with Total Debt to Total Assets ending up at 62.09. Long-Term Debt to Equity for the company is recorded at 264.86, with the Long-Term Debt to Total Capital now at 53.27.

Reflecting on the efficiency of the workforce at the company, Deere & Company [DE] managed to generate an average of $44,259 per employee. Receivables Turnover for the company is 5.81 with a Total Asset Turnover recorded at a value of 0.55.

Earnings analysis for Deere & Company [DE]

With the latest financial reports released by the company, Deere & Company posted 1.63/share EPS, while the average EPS was predicted by analysts to be reported at 1.25/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 30.40%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for DE. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Deere & Company go to 11.19%.

Insider trade positions for Deere & Company [DE]

There are presently around $55,266 million, or 81.10% of DE stock, in the hands of institutional investors. The top three institutional holders of DE stocks are: VANGUARD GROUP INC with ownership of 22,200,580, which is approximately -6.248% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 19,774,107 shares of the stock with an approximate value of $5.07 billion in DE stocks shares; and WELLINGTON MANAGEMENT GROUP LLP, currently with $3.98 billion in DE stock with ownership of nearly -3.418% of the company’s market capitalization.

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Positions in Deere & Company stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 588 institutional holders increased their position in Deere & Company [NYSE:DE] by around 13,819,480 shares. Additionally, 526 investors decreased positions by around 14,385,455 shares, while 257 investors held positions by with 187,317,248 shares. The mentioned changes placed institutional holdings at 215,522,183 shares, according to the latest SEC report filing. DE stock had 190 new institutional investments in for a total of 1,949,145 shares, while 61 institutional investors sold positions of 1,505,602 shares during the same period.

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