Deere & Company (NYSE:DE) Downgraded by StockNews.com to “Sell”

StockNews.com lowered shares of Deere & Company (NYSE:DE) from a hold rating to a sell rating in a report issued on Sunday morning.

DE has been the topic of a number of other reports. Argus set a $510.00 price target on Deere & Company in a research report on Friday, March 7th. Truist Financial reissued a “buy” rating and issued a $546.00 target price (down from $550.00) on shares of Deere & Company in a research report on Friday, February 14th. Evercore ISI upped their price target 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. JPMorgan Chase & Co. increased their price target on shares of Deere & Company from $470.00 to $500.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. Finally, Robert W. Baird reissued a “neutral” rating and set a $501.00 price objective on shares of Deere & Company in a research report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $457.26.

Deere & Company Stock Performance

NYSE:DE opened at $411.80 on Friday. Deere & Company has a 1-year low of $340.20 and a 1-year high of $515.05. 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 business has a 50 day moving average of $472.60 and a 200 day moving average of $442.30. The company has a market capitalization of $111.77 billion, a price-to-earnings ratio of 18.25, a PEG ratio of 2.14 and a beta of 1.00.

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

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 8th. Shareholders of record on Monday, March 31st will be paid a dividend of $1.62 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $6.48 annualized dividend and a yield of 1.57%. Deere & Company’s payout ratio is currently 28.72%.

Insider Activity at Deere & Company

In other Deere & Company news, insider Rajesh Kalathur sold 24,580 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $500.61, for a total value of $12,304,993.80. Following the transaction, the insider now directly owns 74,878 shares in the company, valued at $37,484,675.58. This represents a 24.71 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.29% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Allied Investment Advisors LLC lifted its position in Deere & Company by 2.0% during the 1st quarter. Allied Investment Advisors LLC now owns 26,875 shares of the industrial products company’s stock worth $12,614,000 after acquiring an additional 527 shares during the period. Fifth Third Wealth Advisors LLC lifted its position in Deere & Company by 1.5% during the first quarter. Fifth Third Wealth Advisors LLC now owns 10,030 shares of the industrial products company’s stock worth $4,708,000 after buying an additional 153 shares in the last quarter. IVC Wealth Advisors LLC purchased a new stake in shares of Deere & Company in the first quarter valued at about $218,000. BTC Capital Management Inc. increased its position in Deere & Company by 0.8% during the first quarter. BTC Capital Management Inc. now owns 21,273 shares of the industrial products company’s stock worth $9,986,000 after purchasing an additional 175 shares during the last quarter. Finally, Welch Group LLC lifted its stake in shares of Deere & Company by 1.6% in the 1st quarter. Welch Group LLC now owns 25,125 shares of the industrial products company’s stock valued at $11,691,000 after purchasing an additional 397 shares during the last quarter. 68.58% of the stock is currently owned by hedge funds and other 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.