Wall Street Zen Upgrades Deere & Company (NYSE:DE) to “Hold”

Deere & Company (NYSE:DE) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Saturday.

Other equities analysts have also issued reports about the company. Daiwa Capital Markets cut their target price on Deere & Company from $565.00 to $530.00 and set an “outperform” rating on the stock in a report on Thursday, September 25th. Truist Financial lowered their price objective on Deere & Company from $619.00 to $602.00 and set a “buy” rating on the stock in a report on Friday, August 15th. Weiss Ratings restated a “hold (c+)” rating on shares of Deere & Company in a report on Saturday, September 27th. Wolfe Research decreased their target price on Deere & Company from $550.00 to $520.00 and set an “outperform” rating for the company in a research report on Friday. Finally, Evercore ISI set a $491.00 price target on shares of Deere & Company in a research report on Tuesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat, Deere & Company currently has a consensus rating of “Moderate Buy” and a consensus target price of $518.18.

Deere & Company Price Performance

NYSE DE opened at $462.59 on Friday. The company has a quick ratio of 1.98, a current ratio of 2.19 and a debt-to-equity ratio of 1.76. The stock has a market capitalization of $125.05 billion, a PE ratio of 24.18, a price-to-earnings-growth ratio of 2.98 and a beta of 1.02. Deere & Company has a 12-month low of $387.03 and a 12-month high of $533.78. The company has a 50 day moving average price of $484.64 and a two-hundred day moving average price of $489.24.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share for the quarter, beating analysts’ consensus estimates of $4.62 by $0.13. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The business had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.33 billion. During the same quarter last year, the firm earned $6.29 EPS. Deere & Company’s revenue for the quarter was down 9.0% on a year-over-year basis. As a group, equities analysts predict that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Institutional Trading of Deere & Company

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Norges Bank bought a new stake in shares of Deere & Company in the second quarter valued at about $1,578,243,000. Nuveen LLC acquired a new position in Deere & Company in the 1st quarter valued at approximately $571,073,000. Marshall Wace LLP raised its holdings in Deere & Company by 573.9% in the 2nd quarter. Marshall Wace LLP now owns 842,882 shares of the industrial products company’s stock valued at $428,597,000 after acquiring an additional 717,808 shares in the last quarter. TD Asset Management Inc lifted its position in shares of Deere & Company by 132.0% in the 2nd quarter. TD Asset Management Inc now owns 721,638 shares of the industrial products company’s stock worth $366,946,000 after acquiring an additional 410,636 shares during the period. Finally, Voya Investment Management LLC grew its holdings in shares of Deere & Company by 97.1% during the 1st quarter. Voya Investment Management LLC now owns 733,871 shares of the industrial products company’s stock worth $344,442,000 after purchasing an additional 361,526 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

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.