Deere & Company (NYSE:DE – Get Free Report) was downgraded by investment analysts at Melius from a “buy” rating to a “hold” rating in a research note issued to investors on Monday, Briefing.com reports.
Several other equities research analysts have also commented on the stock. Morgan Stanley began coverage on shares of Deere & Company in a research note on Monday. They set an “overweight” rating and a $430.00 price target on the stock. StockNews.com began coverage on Deere & Company in a research report on Thursday, October 5th. They set a “hold” rating on the stock. JPMorgan Chase & Co. upped their target price on Deere & Company from $380.00 to $385.00 and gave the company a “neutral” rating in a research report on Monday, December 4th. Bank of America cut their price target on Deere & Company from $455.00 to $422.50 in a research report on Wednesday, October 11th. Finally, TD Cowen decreased their price objective on Deere & Company from $438.00 to $396.00 and set a “market perform” rating for the company in a report on Friday, November 24th. Nine research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Deere & Company currently has an average rating of “Moderate Buy” and a consensus price target of $439.69.
Deere & Company Stock Down 1.1 %
NYSE:DE traded down $4.21 during trading hours on Monday, hitting $391.75. The company’s stock had a trading volume of 203,576 shares, compared to its average volume of 1,074,850. Deere & Company has a 52-week low of $345.55 and a 52-week high of $450.00. The company has a current ratio of 1.90, a quick ratio of 1.70 and a debt-to-equity ratio of 1.77. The stock has a market capitalization of $109.79 billion, a P/E ratio of 11.29, a price-to-earnings-growth ratio of 1.15 and a beta of 1.06. The stock has a fifty day moving average of $378.60 and a 200-day moving average of $395.50.
Deere & Company (NYSE:DE – Get Free Report) last issued its earnings results on Wednesday, November 22nd. The industrial products company reported $8.26 earnings per share for the quarter, topping the consensus estimate of $7.46 by $0.80. The business had revenue of $13.80 billion for the quarter, compared to analyst estimates of $13.64 billion. Deere & Company had a return on equity of 45.91% and a net margin of 16.60%. The business’s quarterly revenue was down 3.8% on a year-over-year basis. During the same quarter last year, the company earned $7.44 EPS. On average, equities analysts forecast that Deere & Company will post 28.52 earnings per share for the current year.
Institutional Investors Weigh In On Deere & Company
Several institutional investors have recently made changes to their positions in the stock. Retirement Group LLC boosted its holdings in Deere & Company by 264.7% during the second quarter. Retirement Group LLC now owns 62 shares of the industrial products company’s stock worth $25,000 after buying an additional 45 shares in the last quarter. Fiduciary Alliance LLC purchased a new position in Deere & Company in the 2nd quarter valued at approximately $27,000. Briaud Financial Planning Inc acquired a new position in Deere & Company during the third quarter worth $25,000. Worth Asset Management LLC acquired a new stake in Deere & Company in the first quarter valued at $28,000. Finally, Milestone Investment Advisors LLC acquired a new position in shares of Deere & Company during the 3rd quarter worth $37,000. 66.27% of the stock is currently owned by hedge funds and other institutional investors.
Deere & Company Company Profile
Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.