Deere & Company (NYSE:DE) Stock Rating Lowered by StockNews.com

Deere & Company (NYSE:DE) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday.

Several other analysts also recently issued reports on DE. Truist Financial reissued a “buy” rating and issued a $546.00 price target (down previously from $550.00) on shares of Deere & Company in a research note on Friday, February 14th. UBS Group lifted their target price on Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. JPMorgan Chase & Co. lifted their target price on Deere & Company from $470.00 to $500.00 and gave the company a “neutral” rating in a research report on Monday, February 10th. Citigroup lifted their target price on Deere & Company from $430.00 to $480.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. Finally, Jefferies Financial Group downgraded Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 target price on the stock. in a research report on Friday, December 6th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $454.65.

Deere & Company Stock Performance

DE stock opened at $489.98 on Thursday. The business’s 50-day moving average price is $452.07 and its two-hundred day moving average price is $420.91. 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 firm has a market cap of $133.45 billion, a PE ratio of 21.72, a P/E/G ratio of 2.20 and a beta of 0.98. Deere & Company has a 1-year low of $340.20 and a 1-year high of $515.05.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share (EPS) for the quarter, beating 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%. As a group, research analysts forecast that Deere & Company will post 19.32 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Rajesh Kalathur sold 24,580 shares of the business’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 transaction of $12,304,993.80. Following the completion of the sale, the insider now owns 74,878 shares in the company, valued at $37,484,675.58. The trade was a 24.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.29% of the company’s stock.

Institutional Investors Weigh In On Deere & Company

A number of institutional investors have recently made changes to their positions in DE. Pineridge Advisors LLC boosted its holdings in shares of Deere & Company by 60.5% during the fourth quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 26 shares during the period. Modus Advisors LLC bought a new stake in shares of Deere & Company during the fourth quarter worth approximately $32,000. YANKCOM Partnership bought a new stake in shares of Deere & Company during the fourth quarter worth approximately $34,000. Orion Capital Management LLC bought a new stake in shares of Deere & Company during the fourth quarter worth approximately $34,000. Finally, Synergy Asset Management LLC bought a new stake in shares of Deere & Company during the fourth quarter worth approximately $35,000. Institutional investors own 68.58% of the company’s stock.

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.