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

StockNews.com upgraded shares of Deere & Company (NYSE:DE) from a sell rating to a hold rating in a research report sent to investors on Tuesday.

DE has been the topic of a number of other research reports. Truist Financial reissued 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. UBS Group reduced their target price on shares of Deere & Company from $462.00 to $440.00 and set a “neutral” rating on the stock in a research report on Monday, April 7th. Robert W. Baird reissued a “neutral” rating and set a $501.00 price target on shares of Deere & Company in a research report on Monday, March 3rd. Citigroup cut their price objective on shares of Deere & Company from $480.00 to $450.00 and set a “neutral” rating on the stock in a report on Tuesday, April 8th. Finally, Argus set a $510.00 target price on shares of Deere & Company in a report on Friday, March 7th. Fourteen analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Deere & Company currently has a consensus rating of “Hold” and an average target price of $460.21.

Deere & Company Price Performance

Shares of DE stock opened at $499.81 on Tuesday. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.98 and a current ratio of 2.22. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $515.05. The firm has a market cap of $135.66 billion, a P/E ratio of 22.15, a P/E/G ratio of 2.14 and a beta of 1.08. The business’s 50 day moving average price is $466.67 and its 200-day moving average price is $452.43.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, February 13th. The industrial products company reported $3.19 earnings per share (EPS) 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, equities research analysts anticipate that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 8th. Investors of record on Monday, March 31st were issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date of this dividend was Monday, March 31st. Deere & Company’s payout ratio is 28.72%.

Insiders Place Their Bets

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 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 in the company, valued at $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 available through this hyperlink. Insiders own 0.29% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Hughes Financial Services LLC bought a new position in shares of Deere & Company in the first quarter worth approximately $29,000. Cornerstone Planning Group LLC lifted its stake in shares of Deere & Company by 116.1% during the 1st quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company’s stock valued at $31,000 after buying an additional 36 shares in the last quarter. Pineridge Advisors LLC lifted its stake in shares of Deere & Company by 60.5% during the 4th quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock valued at $29,000 after buying an additional 26 shares in the last quarter. YANKCOM Partnership bought a new position in Deere & Company in the 4th quarter worth $34,000. Finally, Orion Capital Management LLC purchased a new stake in Deere & Company in the 4th quarter worth $34,000. 68.58% of the stock is 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.