Fintel reports that on September 19, 2023, Evercore ISI Group downgraded their outlook for Deere (NYSE:DE) from Outperform to In-Line.

Analyst Price Forecast Suggests 13.08% Upside

As of August 31, 2023, the average one-year price target for Deere is 464.59. The forecasts range from a low of 391.88 to a high of $578.55. The average price target represents an increase of 13.08% from its latest reported closing price of 410.84.

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The projected annual revenue for Deere is 55,138MM, a decrease of 10.14%. The projected annual non-GAAP EPS is 28.90.

What is the Fund Sentiment?

There are 3164 funds or institutions reporting positions in Deere. This is a decrease of 69 owner(s) or 2.13% in the last quarter. Average portfolio weight of all funds dedicated to DE is 0.48%, a decrease of 9.99%. Total shares owned by institutions decreased in the last three months by 7.94% to 221,691K shares. The put/call ratio of DE is 1.15, indicating a bearish outlook.

What are Other Shareholders Doing?

Jpmorgan Chase holds 12,409K shares representing 4.31% ownership of the company. In it’s prior filing, the firm reported owning 13,065K shares, representing a decrease of 5.29%. The firm increased its portfolio allocation in DE by 562.13% over the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 8,319K shares representing 2.89% ownership of the company. In it’s prior filing, the firm reported owning 8,257K shares, representing an increase of 0.75%. The firm decreased its portfolio allocation in DE by 8.77% over the last quarter.

VFINX – Vanguard 500 Index Fund Investor Shares holds 6,420K shares representing 2.23% ownership of the company. In it’s prior filing, the firm reported owning 6,310K shares, representing an increase of 1.72%. The firm decreased its portfolio allocation in DE by 9.56% over the last quarter.

Wellington Management Group Llp holds 5,346K shares representing 1.86% ownership of the company. In it’s prior filing, the firm reported owning 5,232K shares, representing an increase of 2.13%. The firm decreased its portfolio allocation in DE by 4.31% over the last quarter.

Bank Of America holds 5,246K shares representing 1.82% ownership of the company. In it’s prior filing, the firm reported owning 5,055K shares, representing an increase of 3.64%. The firm increased its portfolio allocation in DE by 307.49% over the last quarter.

Deere Background Information
(This description is provided by the company.)

Deere & Company is a world leader in providing advanced products, technology and services for customers whose work is revolutionizing agriculture and construction – those who cultivate, harvest, transform, enrich and build upon the land to meet the world’s increasing need for food, fuel, shelter and infrastructure.

This article originally appeared on Fintel

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