Bank of America downgraded shares of Deere & Company (NYSE:DE) from a buy rating to a neutral rating in a report published on Wednesday, Marketbeat Ratings reports. The firm currently has $170.00 price target on the industrial products company’s stock, down from their prior price target of $173.00.

Several other brokerages have also issued reports on DE. Zacks Investment Research lowered Deere & Company from a buy rating to a hold rating in a research report on Tuesday, February 5th. William Blair reaffirmed a hold rating on shares of Deere & Company in a research report on Friday, November 23rd. Robert W. Baird set a $165.00 target price on Deere & Company and gave the stock a buy rating in a research report on Monday, December 3rd. OTR Global raised Deere & Company to a positive rating in a research report on Friday, January 18th. Finally, UBS Group set a $177.00 target price on Deere & Company and gave the stock a buy rating in a research report on Friday, November 23rd. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The company currently has an average rating of Buy and an average price target of $178.20.

Shares of DE opened at $158.99 on Wednesday. Deere & Company has a 52 week low of $128.32 and a 52 week high of $175.26. The firm has a market capitalization of $50.86 billion, a PE ratio of 16.93, a PEG ratio of 1.59 and a beta of 0.89. The company has a debt-to-equity ratio of 2.41, a current ratio of 1.92 and a quick ratio of 1.67.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Friday, February 15th. The industrial products company reported $1.54 EPS for the quarter, missing the Zacks’ consensus estimate of $1.76 by ($0.22). Deere & Company had a net margin of 6.34% and a return on equity of 29.61%. The firm had revenue of $6.94 billion during the quarter, compared to the consensus estimate of $6.83 billion. During the same quarter in the previous year, the company posted $1.31 earnings per share. The firm’s revenue was up 16.2% on a year-over-year basis. As a group, analysts expect that Deere & Company will post 11.41 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 1st. Stockholders of record on Monday, December 31st were given a $0.76 dividend. The ex-dividend date of this dividend was Friday, December 28th. This is a positive change from Deere & Company’s previous quarterly dividend of $0.69. This represents a $3.04 annualized dividend and a dividend yield of 1.91%. Deere & Company’s dividend payout ratio (DPR) is 32.37%.

In other news, CFO Rajesh Kalathur sold 11,133 shares of Deere & Company stock in a transaction dated Thursday, November 29th. The stock was sold at an average price of $151.47, for a total value of $1,686,315.51. Following the completion of the transaction, the chief financial officer now directly owns 42,244 shares of the company’s stock, valued at approximately $6,398,698.68. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider John C. May II sold 11,661 shares of Deere & Company stock in a transaction dated Thursday, January 17th. The stock was sold at an average price of $160.21, for a total value of $1,868,208.81. Following the completion of the transaction, the insider now directly owns 55,743 shares of the company’s stock, valued at $8,930,586.03. The disclosure for this sale can be found here. Company insiders own 0.71% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. Whittier Trust Co. grew its stake in shares of Deere & Company by 0.3% in the 4th quarter. Whittier Trust Co. now owns 24,423 shares of the industrial products company’s stock valued at $3,643,000 after buying an additional 62 shares during the period. Howland Capital Management LLC grew its stake in shares of Deere & Company by 0.4% in the 4th quarter. Howland Capital Management LLC now owns 15,712 shares of the industrial products company’s stock valued at $2,344,000 after buying an additional 66 shares during the period. TRUE Private Wealth Advisors grew its stake in shares of Deere & Company by 3.1% in the 4th quarter. TRUE Private Wealth Advisors now owns 2,505 shares of the industrial products company’s stock valued at $375,000 after buying an additional 76 shares during the period. Barber Financial Group Inc. grew its stake in shares of Deere & Company by 3.9% in the 4th quarter. Barber Financial Group Inc. now owns 2,198 shares of the industrial products company’s stock valued at $328,000 after buying an additional 83 shares during the period. Finally, Bray Capital Advisors grew its stake in shares of Deere & Company by 1.9% in the 4th quarter. Bray Capital Advisors now owns 4,887 shares of the industrial products company’s stock valued at $729,000 after buying an additional 90 shares during the period. 67.39% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Company Profile

Deere & Company manufactures and distributes various equipment worldwide. The company operates through three segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment offers agriculture and turf equipment, and related parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; and tillage, seeding, and application equipment.

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Analyst Recommendations for Deere & Company (NYSE:DE)

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