Deere & Company (NYSE:DE) Downgraded by Baird R W to “Hold”

Deere & Company (NYSE:DE) was downgraded by equities researchers at Baird R W from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Other equities research analysts have also recently issued reports about the company. JPMorgan Chase & Co. increased their price target on Deere & Company from $470.00 to $500.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. Evercore ISI increased their price objective on shares of Deere & Company from $437.00 to $455.00 and gave the company an “in-line” rating in a research report on Wednesday, February 19th. Truist Financial reissued a “buy” rating and set a $546.00 target price (down previously from $550.00) on shares of Deere & Company in a research report on Friday, February 14th. Oppenheimer raised their price target on shares of Deere & Company from $477.00 to $507.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. Finally, Jefferies Financial Group lowered shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price objective on the stock. in a report on Friday, December 6th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $457.22.

Deere & Company Stock Down 3.2 %

Shares of Deere & Company stock opened at $465.37 on Monday. Deere & Company has a 52-week low of $340.20 and a 52-week high of $515.05. The firm’s 50 day moving average price is $457.61 and its 200-day moving average price is $427.33. The company has a quick ratio of 1.98, a current ratio of 2.22 and a debt-to-equity ratio of 1.94. The company has a market cap of $126.74 billion, a P/E ratio of 20.63, a PEG ratio of 2.14 and a beta of 0.98.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share (EPS) for the quarter, topping 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%. On average, sell-side analysts predict that Deere & Company will post 19.32 EPS for the current fiscal year.

Insider Activity

In other news, insider Rajesh Kalathur sold 24,580 shares of the firm’s stock in a transaction dated 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 sale, the insider now directly owns 74,878 shares in the company, valued at $37,484,675.58. This trade represents a 24.71 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.29% of the company’s stock.

Hedge Funds Weigh In On Deere & Company

A number of large investors have recently bought and sold shares of the business. BridgePort Financial Solutions LLC purchased a new stake in Deere & Company in the 4th quarter worth $184,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Deere & Company during the fourth quarter worth about $149,057,000. LifeWealth Investments LLC purchased a new stake in shares of Deere & Company during the fourth quarter worth about $447,000. Capital A Wealth Management LLC acquired a new position in shares of Deere & Company during the 4th quarter worth about $102,000. Finally, Heck Capital Advisors LLC purchased a new position in Deere & Company in the 4th quarter valued at about $1,159,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

About Deere & Company

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.