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

Wall Street Zen lowered shares of Deere & Company (NYSE:DE) from a hold rating to a sell rating in a research report sent to investors on Friday morning.

Other research analysts have also recently issued reports about the company. UBS Group reiterated a “buy” rating on shares of Deere & Company in a report on Tuesday. Wolfe Research decreased their price target on Deere & Company from $550.00 to $520.00 and set an “outperform” rating on the stock in a research note on Friday, October 3rd. Citigroup cut their price objective on Deere & Company from $525.00 to $515.00 and set a “neutral” rating for the company in a research report on Tuesday, October 7th. Sanford C. Bernstein upped their target price on shares of Deere & Company from $487.00 to $521.00 and gave the company a “market perform” rating in a research report on Thursday, November 13th. Finally, Robert W. Baird lowered their target price on shares of Deere & Company from $488.00 to $467.00 and set a “neutral” rating for the company in a research note on Monday, October 13th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $519.45.

Deere & Company Trading Down 0.8%

Shares of DE opened at $465.95 on Friday. The company has a current ratio of 2.19, a quick ratio of 1.98 and a debt-to-equity ratio of 1.76. Deere & Company has a 12-month low of $403.01 and a 12-month high of $533.78. The firm has a 50-day moving average price of $467.10 and a 200 day moving average price of $490.59. The firm has a market capitalization of $125.96 billion, a P/E ratio of 24.36, a P/E/G ratio of 3.05 and a beta of 1.04.

Deere & Company (NYSE:DE) last issued its earnings results on Wednesday, November 26th. The industrial products company reported $3.93 EPS for the quarter, missing analysts’ consensus estimates of $3.96 by ($0.03). The firm had revenue of $12.39 billion for the quarter, compared to analysts’ expectations of $9.77 billion. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.Deere & Company’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same period last year, the firm earned $4.55 earnings per share. Sell-side analysts forecast that Deere & Company will post 19.32 EPS for the current year.

Insider Buying and Selling

In other Deere & Company news, CEO John C. May II sold 11,106 shares of Deere & Company stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $500.08, for a total value of $5,553,888.48. Following the completion of the transaction, the chief executive officer directly owned 112,453 shares of the company’s stock, valued at $56,235,496.24. The trade was a 8.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.29% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Mid American Wealth Advisory Group Inc. purchased a new position in Deere & Company in the 2nd quarter valued at approximately $25,000. Strategic Advocates LLC acquired a new stake in shares of Deere & Company in the third quarter valued at $25,000. Activest Wealth Management boosted its holdings in Deere & Company by 2,750.0% in the first quarter. Activest Wealth Management now owns 57 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 55 shares during the period. Howard Hughes Medical Institute acquired a new position in Deere & Company during the 2nd quarter worth $27,000. Finally, Wealth Watch Advisors INC purchased a new stake in Deere & Company during the 3rd quarter worth about $32,000. Hedge funds and other institutional investors 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.