Deere & Company (NYSE:DE) Cut to “Sell” at StockNews.com

StockNews.com downgraded shares of Deere & Company (NYSE:DE) from a hold rating to a sell rating in a research report released on Saturday.

Other research analysts also recently issued reports about the stock. Jefferies Financial Group downgraded shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price objective on the stock. in a research note on Friday, December 6th. Truist Financial reaffirmed a “buy” rating and set a $546.00 price target (down previously from $550.00) on shares of Deere & Company in a research report on Friday, February 14th. Barclays lifted their price target on Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Citigroup upped their price objective on Deere & Company from $430.00 to $480.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. Finally, JPMorgan Chase & Co. lifted their target price on Deere & Company from $470.00 to $500.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, Deere & Company has an average rating of “Hold” and a consensus price target of $457.22.

Deere & Company Stock Down 3.2 %

Shares of NYSE DE opened at $465.37 on Friday. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.98 and a current ratio of 2.22. Deere & Company has a 1 year low of $340.20 and a 1 year high of $515.05. The stock’s 50-day simple moving average is $457.61 and its 200-day simple moving average is $427.33. The firm has a market cap of $126.74 billion, a price-to-earnings ratio of 20.63, a PEG ratio of 2.14 and a beta of 0.98.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, February 13th. The industrial products company reported $3.19 earnings per share 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 analysts anticipate that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 8th. Investors of record on Monday, March 31st will be issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date is Monday, March 31st. Deere & Company’s dividend payout ratio (DPR) is 28.72%.

Insider Buying and Selling at Deere & Company

In related news, insider Rajesh Kalathur sold 24,580 shares of the stock in a transaction dated 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 completion of the transaction, the insider now owns 74,878 shares in the company, valued at $37,484,675.58. This represents a 24.71 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.29% of the stock is owned by company insiders.

Institutional Trading of Deere & Company

Institutional investors have recently made changes to their positions in the stock. Norges Bank acquired a new stake in Deere & Company in the fourth quarter worth approximately $1,244,094,000. Wellington Management Group LLP raised its stake in shares of Deere & Company by 32.0% in the 3rd quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company’s stock worth $3,068,404,000 after buying an additional 1,782,984 shares in the last quarter. Castlekeep Investment Advisors LLC acquired a new stake in shares of Deere & Company in the fourth quarter valued at $541,437,000. Price T Rowe Associates Inc. MD grew its holdings in Deere & Company by 19.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,589,760 shares of the industrial products company’s stock worth $2,792,082,000 after acquiring an additional 1,095,736 shares during the period. Finally, FMR LLC raised its position in Deere & Company by 22.9% in the fourth quarter. FMR LLC now owns 5,581,408 shares of the industrial products company’s stock worth $2,364,843,000 after acquiring an additional 1,039,395 shares in the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.

About Deere & Company

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.