Zacks Research Upgrades Deere & Company (NYSE:DE) to Hold

by · The Cerbat Gem

Deere & Company (NYSE:DE – Get Free Report) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Wednesday,Zacks.com reports.

Other research analysts have also issued reports about the stock. Wolfe Research cut their price objective on shares of Deere & Company from $550.00 to $520.00 and set an “outperform” rating on the stock in a report on Friday, October 3rd. Jefferies Financial Group lowered their price objective on shares of Deere & Company from $510.00 to $440.00 and set a “hold” rating for the company in a research note on Wednesday, October 8th. DA Davidson reaffirmed a “buy” rating and issued a $580.00 target price on shares of Deere & Company in a research report on Monday. Daiwa Capital Markets lowered their price target on Deere & Company from $530.00 to $520.00 and set an “outperform” rating for the company in a research report on Tuesday. Finally, JPMorgan Chase & Co. dropped their price target on Deere & Company from $495.00 to $480.00 and set a “neutral” rating for the company in a research note on Tuesday, October 14th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $518.95.

Get Our Latest Stock Analysis on Deere & Company

Deere & Company Trading Up 0.2%

Shares of DE opened at $482.60 on Wednesday. The stock has a fifty day moving average of $467.58 and a two-hundred day moving average of $489.59. The company has a debt-to-equity ratio of 1.68, a quick ratio of 2.01 and a current ratio of 2.22. The company has a market capitalization of $130.46 billion, a PE ratio of 26.07, a price-to-earnings-growth ratio of 1.77 and a beta of 1.00. Deere & Company has a fifty-two week low of $403.01 and a fifty-two week high of $533.78.

Deere & Company (NYSE:DE – Get Free Report) last posted its quarterly earnings data on Wednesday, November 26th. The industrial products company reported $3.93 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.96 by ($0.03). The business had revenue of $12.39 billion for the quarter, compared to analyst estimates of $9.77 billion. Deere & Company had a return on equity of 20.54% and a net margin of 11.00%.Deere & Company’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same quarter last year, the business earned $4.55 EPS. As a group, analysts forecast that Deere & Company will post 19.32 EPS for the current year.

Insider Buying and Selling

In other Deere & Company news, CEO John C. May II sold 11,106 shares of the company’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $500.08, for a total transaction of $5,553,888.48. Following the sale, the chief executive officer owned 112,453 shares in the company, valued at $56,235,496.24. This represents a 8.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.29% of the company’s stock.

Hedge Funds Weigh In On Deere & Company

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Mid American Wealth Advisory Group Inc. acquired a new position in Deere & Company during the 2nd quarter worth $25,000. Strategic Advocates LLC acquired a new position in shares of Deere & Company during the third quarter valued at $25,000. Activest Wealth Management raised its stake in shares of Deere & Company by 2,750.0% during the first quarter. Activest Wealth Management now owns 57 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 55 shares in the last quarter. Howard Hughes Medical Institute acquired a new stake in Deere & Company in the second quarter worth about $27,000. Finally, Wealth Watch Advisors INC bought a new position in Deere & Company in the 3rd quarter valued at about $32,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Company Profile

(Get Free Report)

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.

See Also