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

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

A number of other analysts also recently weighed in on DE. Argus set a $510.00 target price on shares of Deere & Company in a research report on Friday, March 7th. Oppenheimer upped their price objective 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. Truist Financial reaffirmed a “buy” rating and set a $546.00 target price (down previously from $550.00) on shares of Deere & Company in a research note on Friday, February 14th. Citigroup boosted their price target on Deere & Company from $430.00 to $480.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. Finally, JPMorgan Chase & Co. raised their price objective on Deere & Company from $470.00 to $500.00 and gave the company a “neutral” rating in a research report on Monday, February 10th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $458.84.

Deere & Company Stock Performance

Shares of DE opened at $422.15 on Friday. The company has a 50-day simple moving average of $475.31 and a two-hundred day simple moving average of $442.47. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.22 and a quick ratio of 1.98. The firm has a market capitalization of $114.58 billion, a PE ratio of 18.71, a price-to-earnings-growth ratio of 2.14 and a beta of 1.00. Deere & Company has a one year low of $340.20 and a one year high of $515.05.

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

Insider Buying and Selling

In related news, insider Rajesh Kalathur sold 24,580 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were 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 directly owns 74,878 shares in the company, valued at approximately $37,484,675.58. The trade was a 24.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.29% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of DE. Pineridge Advisors LLC lifted its position in Deere & Company by 60.5% during the fourth quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 26 shares in the last quarter. Modus Advisors LLC purchased a new stake in Deere & Company in the 4th quarter worth approximately $32,000. YANKCOM Partnership bought a new stake in Deere & Company during the 4th quarter worth approximately $34,000. Orion Capital Management LLC purchased a new position in Deere & Company during the fourth quarter valued at approximately $34,000. Finally, Synergy Asset Management LLC purchased a new position in Deere & Company during the fourth quarter valued at approximately $35,000. Hedge funds and other institutional investors 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.