Deere & Company (NYSE:DE) Stock Rating Lowered by Baird R W

Deere & Company (NYSE:DE) was downgraded by stock analysts at Baird R W from a “strong-buy” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

A number of other equities analysts have also recently commented on the company. Citigroup raised their target price on Deere & Company from $430.00 to $480.00 and gave the company a “neutral” rating in a report on Friday, February 14th. StockNews.com lowered shares of Deere & Company from a “hold” rating to a “sell” rating in a research note on Saturday. Morgan Stanley lifted their price objective on shares of Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a report on Monday, November 25th. JPMorgan Chase & Co. increased their target price on shares of Deere & Company from $470.00 to $500.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. Finally, Truist Financial restated a “buy” rating and issued a $546.00 price target (down previously from $550.00) on shares of Deere & Company in a research note on Friday, February 14th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $457.22.

Deere & Company Stock Performance

Shares of DE stock opened at $458.43 on Monday. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.98 and a current ratio of 2.22. The firm has a market cap of $124.85 billion, a P/E ratio of 20.32, a P/E/G ratio of 2.14 and a beta of 0.98. The firm’s 50 day moving average price is $458.13 and its 200-day moving average price is $427.89. Deere & Company has a one year low of $340.20 and a one year high of $515.05.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.14 by $0.05. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. As a group, equities research analysts predict that Deere & Company will post 19.32 EPS for the current year.

Insider Transactions at Deere & Company

In other news, insider Rajesh Kalathur sold 24,580 shares of Deere & Company stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $500.61, for a total value of $12,304,993.80. Following the transaction, the insider now directly owns 74,878 shares of the company’s stock, valued at $37,484,675.58. The trade was a 24.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.29% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of DE. Pineridge Advisors LLC boosted its stake in shares of Deere & Company by 60.5% during the fourth quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock worth $29,000 after buying an additional 26 shares during the period. Modus Advisors LLC acquired a new stake in Deere & Company during the 4th quarter worth approximately $32,000. YANKCOM Partnership acquired a new stake in Deere & Company during the 4th quarter worth approximately $34,000. Orion Capital Management LLC purchased a new position in shares of Deere & Company in the 4th quarter valued at approximately $34,000. Finally, Synergy Asset Management LLC acquired a new position in shares of Deere & Company in the fourth quarter valued at approximately $35,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

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.