Deere & Company (NYSE:DE) Rating Lowered to “Sell” at Wall Street Zen

Deere & Company (NYSE:DE) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Friday.

DE has been the subject of a number of other research reports. DA Davidson reiterated a “buy” rating and set a $542.00 price target on shares of Deere & Company in a report on Friday, May 16th. Oppenheimer raised their price objective on Deere & Company from $513.00 to $555.00 and gave the company an “outperform” rating in a research report on Friday, May 16th. UBS Group decreased their target price on Deere & Company from $462.00 to $440.00 and set a “neutral” rating on the stock in a report on Monday, April 7th. Barclays increased their price target on Deere & Company from $475.00 to $530.00 and gave the company an “overweight” rating in a research note on Friday, May 16th. Finally, Truist Financial lifted their price objective on shares of Deere & Company from $546.00 to $619.00 and gave the stock a “buy” rating in a research report on Friday, May 16th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Deere & Company presently has a consensus rating of “Hold” and an average price target of $516.75.

Deere & Company Price Performance

NYSE:DE opened at $503.07 on Friday. The stock has a market capitalization of $136.54 billion, a PE ratio of 22.30, a P/E/G ratio of 2.14 and a beta of 1.08. Deere & Company has a 1-year low of $340.20 and a 1-year high of $533.78. The firm has a fifty day simple moving average of $475.02 and a 200 day simple moving average of $461.23. The company has a current ratio of 2.22, a quick ratio of 1.98 and a debt-to-equity ratio of 1.94.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, May 15th. The industrial products company reported $6.64 EPS for the quarter, beating analysts’ consensus estimates of $5.72 by $0.92. The company had revenue of $11.17 billion during the quarter, compared to the consensus estimate of $10.80 billion. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. The company’s quarterly revenue was down 17.9% on a year-over-year basis. During the same quarter last year, the firm posted $8.53 EPS. On average, research analysts expect that Deere & Company will post 19.32 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in DE. Compass Financial Services Inc acquired a new position in Deere & Company in the fourth quarter valued at about $254,000. Banque Pictet & Cie SA lifted its holdings in shares of Deere & Company by 2.0% during the 4th quarter. Banque Pictet & Cie SA now owns 78,274 shares of the industrial products company’s stock worth $33,165,000 after acquiring an additional 1,500 shares during the period. Spectrum Financial Alliance Ltd LLC lifted its holdings in shares of Deere & Company by 2.9% during the 4th quarter. Spectrum Financial Alliance Ltd LLC now owns 49,613 shares of the industrial products company’s stock worth $21,021,000 after acquiring an additional 1,407 shares during the period. Generali Investments CEE investicni spolecnost a.s. acquired a new stake in shares of Deere & Company during the 4th quarter worth approximately $847,000. Finally, BankPlus Trust Department bought a new position in Deere & Company in the fourth quarter valued at approximately $1,127,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

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.