Deere & Company (NYSE:DE) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Deere & Company (NYSE:DE) have earned a consensus recommendation of “Hold” from the twenty-one ratings firms that are covering the company, Marketbeat reports. Twelve analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $436.41.

Several equities analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a research report on Thursday, August 8th. Bank of America upped their price objective on shares of Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a report on Friday, August 16th. Barclays upped their price objective on shares of Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Truist Financial upped their price objective on shares of Deere & Company from $496.00 to $538.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Finally, BMO Capital Markets started coverage on shares of Deere & Company in a report on Friday, August 9th. They issued a “market perform” rating and a $400.00 price objective on the stock.

Hedge Funds Weigh In On Deere & Company

A number of institutional investors and hedge funds have recently modified their holdings of the company. Fairscale Capital LLC bought a new stake in Deere & Company during the second quarter valued at approximately $26,000. Pineridge Advisors LLC grew its position in shares of Deere & Company by 725.0% during the 1st quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 58 shares during the period. Livelsberger Financial Advisory purchased a new stake in shares of Deere & Company in the 3rd quarter worth $32,000. Olistico Wealth LLC bought a new position in Deere & Company in the 2nd quarter worth $37,000. Finally, Centennial Bank AR lifted its position in Deere & Company by 420.0% during the second quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 84 shares in the last quarter. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Price Performance

Shares of NYSE DE opened at $465.90 on Monday. Deere & Company has a 1 year low of $340.20 and a 1 year high of $469.39. The company has a debt-to-equity ratio of 1.89, a current ratio of 2.09 and a quick ratio of 1.90. The company’s 50-day moving average is $413.25 and its 200 day moving average is $388.13. The stock has a market capitalization of $127.47 billion, a P/E ratio of 18.20, a P/E/G ratio of 1.99 and a beta of 0.93.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.90 by $0.65. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The company had revenue of $9.28 billion for the quarter, compared to analysts’ expectations of $9.20 billion. During the same quarter in the previous year, the company earned $8.26 earnings per share. Deere & Company’s quarterly revenue was down 32.8% on a year-over-year basis. On average, sell-side analysts expect that Deere & Company will post 19.52 earnings per share for the current year.

Deere & Company Company Profile

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.