Deere & Company (NYSE:DE) Upgraded by StockNews.com to Hold Rating

Deere & Company (NYSE:DE) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Saturday.

A number of other brokerages also recently weighed in on DE. Jefferies Financial Group downgraded shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price target for the company. in a report on Friday, December 6th. JPMorgan Chase & Co. upped their target price on Deere & Company from $470.00 to $500.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. Citigroup lifted their price target on Deere & Company from $430.00 to $480.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. Robert W. Baird restated a “neutral” rating and set a $501.00 price objective on shares of Deere & Company in a research report on Monday, March 3rd. Finally, Truist Financial reiterated a “buy” rating and issued a $546.00 target price (down previously from $550.00) on shares of Deere & Company in a research report on Friday, February 14th. Fourteen investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $460.00.

Deere & Company Price Performance

Shares of NYSE DE opened at $465.27 on Friday. The business has a fifty day moving average price of $477.28 and a two-hundred day moving average price of $439.39. The stock has a market capitalization of $126.28 billion, a PE ratio of 20.62, a P/E/G ratio of 2.14 and a beta of 1.01. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.22 and a quick ratio of 1.98. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $515.05.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, February 13th. The industrial products company reported $3.19 EPS for the quarter, beating analysts’ consensus estimates of $3.14 by $0.05. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. As a group, equities analysts predict that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Rajesh Kalathur sold 24,580 shares of the stock in a transaction dated 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 completion of the sale, the insider now owns 74,878 shares of the company’s stock, valued at approximately $37,484,675.58. This represents a 24.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.29% of the company’s stock.

Institutional Trading of Deere & Company

Several institutional investors have recently added to or reduced their stakes in the stock. Fire Capital Management LLC acquired a new position in shares of Deere & Company in the 4th quarter worth approximately $2,368,000. Mascagni Wealth Management Inc. acquired a new position in Deere & Company in the fourth quarter valued at $39,000. Chancellor Financial Group WB LP bought a new stake in Deere & Company during the fourth quarter valued at $857,000. NorthCrest Asset Manangement LLC grew its holdings in Deere & Company by 0.6% during the 4th quarter. NorthCrest Asset Manangement LLC now owns 50,570 shares of the industrial products company’s stock worth $21,427,000 after acquiring an additional 318 shares during the period. Finally, Tableaux LLC bought a new position in shares of Deere & Company in the 4th quarter worth about $626,000. 68.58% of the stock is currently owned by 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.