Hsbc Global Res Downgrades Deere & Company (NYSE:DE) to Hold

Hsbc Global Res lowered shares of Deere & Company (NYSE:DE - Free Report) from a strong-buy rating to a hold rating in a research report report published on Monday morning, Zacks.com reports.

A number of other equities analysts have also recently commented on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Deere & Company from $375.00 to $360.00 and set a neutral rating for the company in a research report on Tuesday, August 13th. Citigroup decreased their price target on shares of Deere & Company from $395.00 to $370.00 and set a neutral rating on the stock in a research note on Tuesday, August 13th. Daiwa Capital Markets raised their price objective on shares of Deere & Company from $400.00 to $420.00 and gave the stock an overweight rating in a research report on Wednesday, May 15th. DA Davidson decreased their target price on Deere & Company from $483.00 to $465.00 and set a buy rating on the stock in a research report on Monday, May 20th. Finally, Morgan Stanley lifted their price target on Deere & Company from $430.00 to $450.00 in a report on Wednesday, May 15th. Fifteen equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of Hold and a consensus price target of $421.90.

Deere & Company Stock Down 0.1 %

Shares of DE traded down $0.32 on Monday, hitting $372.59. The company's stock had a trading volume of 931,932 shares, compared to its average volume of 1,546,924. The company has a quick ratio of 1.80, a current ratio of 2.01 and a debt-to-equity ratio of 1.81. The firm's fifty day moving average price is $367.56 and its 200-day moving average price is $380.21. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $423.35. The firm has a market capitalization of $102.67 billion, a price-to-earnings ratio of 11.22, a P/E/G ratio of 1.59 and a beta of 0.93.

Deere & Company (NYSE:DE - Get Free Report) last released its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, topping analysts' consensus estimates of $5.63 by $0.66. Deere & Company had a return on equity of 42.26% and a net margin of 16.15%. The firm had revenue of $11.39 billion during the quarter, compared to the consensus estimate of $10.94 billion. During the same quarter in the prior year, the firm posted $10.20 EPS. The business's revenue was down 20.3% on a year-over-year basis. On average, equities research analysts expect that Deere & Company will post 25.41 EPS for the current year.

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 8th. Shareholders of record on Friday, June 28th were issued a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date was Friday, June 28th. Deere & Company's dividend payout ratio is presently 17.70%.

Insider Transactions at Deere & Company

In other Deere & Company news, insider Cory J. Reed sold 13,370 shares of the business's stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $377.63, for a total transaction of $5,048,913.10. Following the completion of the transaction, the insider now owns 41,642 shares of the company's stock, valued at $15,725,268.46. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.26% of the stock is owned by insiders.

Institutional Trading of Deere & Company

A number of hedge funds have recently made changes to their positions in the company. International Assets Investment Management LLC raised its holdings in Deere & Company by 15.9% in the 4th quarter. International Assets Investment Management LLC now owns 2,102 shares of the industrial products company's stock valued at $841,000 after buying an additional 288 shares during the last quarter. CWM LLC raised its holdings in Deere & Company by 14.9% in the 4th quarter. CWM LLC now owns 15,744 shares of the industrial products company's stock valued at $6,295,000 after buying an additional 2,046 shares during the last quarter. Cetera Trust Company N.A bought a new position in Deere & Company during the 4th quarter worth approximately $130,000. Capital Investment Advisory Services LLC raised its holdings in Deere & Company by 3.6% during the 4th quarter. Capital Investment Advisory Services LLC now owns 1,755 shares of the industrial products company's stock worth $702,000 after purchasing an additional 61 shares during the last quarter. Finally, Duality Advisers LP bought a new position in Deere & Company during the 4th quarter worth approximately $461,000. 68.58% of the stock is owned by institutional investors and hedge funds.

About Deere & Company

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.