Deere & Company (NYSE:DE - Get Free Report) was upgraded by StockNews.com from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Saturday.
Several other equities research analysts have also issued reports on the company. JPMorgan Chase & Co. raised their price objective on Deere & Company from $470.00 to $500.00 and gave the company a "neutral" rating in a research note on Monday, February 10th. Argus set a $510.00 price target on shares of Deere & Company in a research report on Friday, March 7th. Baird R W cut Deere & Company from a "strong-buy" rating to a "hold" rating in a report on Monday, March 3rd. Citigroup raised their price target 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, Robert W. Baird reaffirmed a "neutral" rating and set a $501.00 price target on shares of Deere & Company in a research note on Monday, March 3rd. Fourteen research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $460.00.
Check Out Our Latest Stock Report on DE
Deere & Company Stock Down 0.5 %
Deere & Company stock traded down $2.26 during mid-day trading on Friday, reaching $467.09. The stock had a trading volume of 85,042 shares, compared to its average volume of 1,396,040. 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 stock's 50-day simple moving average is $477.56 and its 200-day simple moving average is $440.70. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $515.05. The firm has a market capitalization of $126.77 billion, a PE ratio of 20.71, a price-to-earnings-growth ratio of 2.14 and a beta of 1.01.
Deere & Company (NYSE:DE - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The industrial products company reported $3.19 earnings per share for the quarter, beating 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, sell-side analysts forecast that Deere & Company will post 19.32 EPS for the current fiscal year.
Insiders Place Their Bets
In related 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 in the company, valued at $37,484,675.58. This trade represents a 24.71 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.29% of the stock is owned by insiders.
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of the company. Wellington Management Group LLP boosted its holdings 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 acquiring an additional 1,782,984 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Deere & Company by 19.9% in 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 purchasing an additional 1,095,736 shares during the period. Capital World Investors boosted its position in Deere & Company by 2.7% in the fourth quarter. Capital World Investors now owns 6,058,259 shares of the industrial products company's stock worth $2,566,884,000 after purchasing an additional 157,224 shares during the last quarter. FMR LLC grew its position in Deere & Company by 22.9% during the fourth quarter. FMR LLC now owns 5,581,408 shares of the industrial products company's stock worth $2,364,843,000 after buying an additional 1,039,395 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Deere & Company by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 5,305,571 shares of the industrial products company's stock worth $2,247,216,000 after purchasing an additional 97,203 shares during the period. 68.58% of the stock is owned by institutional investors and hedge funds.
About Deere & Company
(
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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.
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