StockNews.com Downgrades Deere & Company (NYSE:DE) to Sell

StockNews.com lowered shares of Deere & Company (NYSE:DE) from a hold rating to a sell rating in a research note released on Thursday morning.

Several other analysts have also recently weighed in on the stock. Citigroup boosted their price objective on shares of Deere & Company from $430.00 to $480.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. UBS Group boosted their price objective on shares of Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. JPMorgan Chase & Co. boosted their price objective on shares of Deere & Company from $470.00 to $500.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. Barclays boosted their price objective on shares of Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Finally, Evercore ISI upped their price target on shares of Deere & Company from $437.00 to $455.00 and gave the company an “in-line” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Deere & Company has a consensus rating of “Hold” and a consensus price target of $454.65.

Deere & Company Stock Down 1.2 %

Shares of NYSE:DE opened at $489.98 on Thursday. The company has a fifty day moving average of $452.07 and a 200-day moving average of $421.43. The company has a market capitalization of $133.45 billion, a PE ratio of 21.72, a price-to-earnings-growth ratio of 2.14 and a beta of 0.98. 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 52-week low of $340.20 and a 52-week high of $515.05.

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, topping the consensus estimate of $3.14 by $0.05. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. On average, equities analysts predict that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st were given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date of this dividend was Tuesday, December 31st. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s dividend payout ratio is 28.72%.

Insider Transactions at Deere & Company

In other 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 transaction of $12,304,993.80. Following the transaction, the insider now owns 74,878 shares of the company’s stock, valued at $37,484,675.58. This represents a 24.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.29% of the company’s stock.

Institutional Investors Weigh In On Deere & Company

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Putney Financial Group LLC acquired a new stake in shares of Deere & Company in the 4th quarter worth about $436,000. Vermillion Wealth Management Inc. acquired a new stake in shares of Deere & Company in the 4th quarter worth about $452,000. Forum Financial Management LP raised its holdings in shares of Deere & Company by 13.5% in the 4th quarter. Forum Financial Management LP now owns 14,706 shares of the industrial products company’s stock worth $6,231,000 after acquiring an additional 1,754 shares during the last quarter. Baer Investment Advisory LLC acquired a new stake in shares of Deere & Company in the 4th quarter worth about $2,665,000. Finally, Castlekeep Investment Advisors LLC acquired a new stake in shares of Deere & Company in the 4th quarter worth about $1,278,000. 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.