Deere & Company (NYSE:DE) Stock Rating Upgraded by StockNews.com

Deere & Company (NYSE:DE) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

DE has been the subject of a number of other reports. Baird R W lowered shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 3rd. Robert W. Baird restated a “neutral” rating and issued a $501.00 target price on shares of Deere & Company in a report on Monday, March 3rd. JPMorgan Chase & Co. upped their price target on shares of Deere & Company from $470.00 to $500.00 and gave the company a “neutral” rating in a report on Monday, February 10th. Truist Financial reissued a “buy” rating and issued a $546.00 price objective (down previously from $550.00) on shares of Deere & Company in a research note on Friday, February 14th. Finally, Citigroup boosted their target price on Deere & Company from $430.00 to $480.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. Fourteen equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $460.00.

Deere & Company Stock Performance

Deere & Company stock opened at $465.27 on Friday. The company’s 50-day moving average price is $477.28 and its 200-day moving average price is $440.12. The company has a quick ratio of 1.98, a current ratio of 2.22 and a debt-to-equity ratio of 1.94. The company has a market cap of $126.28 billion, a PE ratio of 20.62, a price-to-earnings-growth ratio of 2.14 and a beta of 1.01. Deere & Company has a twelve month low of $340.20 and a twelve month 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 return on equity of 27.31% and a net margin of 12.94%. On average, equities research analysts forecast that Deere & Company will post 19.32 EPS for the current fiscal year.

Insider Buying and Selling at Deere & Company

In other news, insider Rajesh Kalathur sold 24,580 shares of Deere & Company stock in a transaction that occurred 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 owns 74,878 shares of the company’s stock, valued at $37,484,675.58. The trade was a 24.71 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.29% of the company’s stock.

Hedge Funds Weigh In On Deere & Company

Several institutional investors and hedge funds have recently bought and sold shares of DE. Pineridge Advisors LLC grew its stake in Deere & Company by 60.5% during the 4th quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock worth $29,000 after buying an additional 26 shares during the last quarter. Modus Advisors LLC purchased a new stake in shares of Deere & Company during the fourth quarter worth about $32,000. YANKCOM Partnership acquired a new position in shares of Deere & Company during the fourth quarter valued at about $34,000. Orion Capital Management LLC purchased a new position in shares of Deere & Company in the 4th quarter valued at approximately $34,000. Finally, Synergy Asset Management LLC acquired a new stake in Deere & Company in the 4th quarter worth approximately $35,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

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.