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

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

A number of other equities analysts also recently weighed in on the stock. JPMorgan Chase & Co. upped their price target 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. Truist Financial reaffirmed a “buy” rating and issued a $546.00 target price (down from $550.00) on shares of Deere & Company in a research report on Friday, February 14th. Jefferies Financial Group lowered Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price target for the company. in a report on Friday, December 6th. Barclays increased their price objective on Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Finally, UBS Group lifted their target price on shares of Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $454.65.

Deere & Company Trading Down 2.6 %

Deere & Company stock traded down $12.99 during midday trading on Thursday, reaching $496.28. The stock had a trading volume of 1,514,537 shares, compared to its average volume of 1,476,719. Deere & Company has a twelve month low of $340.20 and a twelve month high of $515.05. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.22 and a quick ratio of 1.98. The firm has a market cap of $135.16 billion, a price-to-earnings ratio of 22.00, a PEG ratio of 2.17 and a beta of 0.98. The firm’s fifty day simple moving average is $451.08 and its two-hundred day simple moving average is $419.90.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, February 13th. The industrial products company reported $3.19 EPS for the quarter, topping analysts’ consensus estimates of $3.14 by $0.05. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. Equities analysts anticipate that Deere & Company will post 19.3 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Rajesh Kalathur sold 24,580 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the insider now owns 74,878 shares in the company, valued at approximately $37,484,675.58. The trade was a 24.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.29% of the stock is owned by insiders.

Institutional Trading of Deere & Company

Large investors have recently made changes to their positions in the company. Forum Financial Management LP raised its position in shares of Deere & Company by 13.5% during the fourth quarter. Forum Financial Management LP now owns 14,706 shares of the industrial products company’s stock worth $6,231,000 after purchasing an additional 1,754 shares during the period. Baer Investment Advisory LLC acquired a new position in shares of Deere & Company in the 4th quarter valued at approximately $2,665,000. Castlekeep Investment Advisors LLC acquired a new stake in Deere & Company during the 4th quarter worth approximately $1,278,000. North Star Asset Management Inc. acquired a new stake in Deere & Company during the 4th quarter worth approximately $226,000. Finally, Retirement Planning Group LLC NY bought a new position in Deere & Company in the fourth quarter valued at approximately $318,000. Institutional investors own 68.58% of the company’s stock.

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.