Deere & Company (NYSE:DE) Upgraded to “Hold” at Wall Street Zen

Wall Street Zen upgraded shares of Deere & Company (NYSE:DE) from a sell rating to a hold rating in a research report released on Saturday morning.

Other research analysts also recently issued research reports about the stock. Melius Research upgraded shares of Deere & Company from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 6th. Melius raised shares of Deere & Company from a “hold” rating to a “buy” rating in a research note on Friday, June 6th. JPMorgan Chase & Co. lowered their price objective on Deere & Company from $500.00 to $495.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 2nd. Daiwa Capital Markets cut their target price on Deere & Company from $565.00 to $530.00 and set an “outperform” rating for the company in a research note on Thursday, September 25th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Deere & Company in a report on Saturday, September 27th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $518.18.

Deere & Company Trading Up 0.2%

Deere & Company stock opened at $462.59 on Friday. The stock’s 50 day simple moving average is $484.64 and its two-hundred day simple moving average is $489.15. Deere & Company has a 12 month low of $387.03 and a 12 month high of $533.78. The firm has a market cap of $125.05 billion, a PE ratio of 24.18, a P/E/G ratio of 2.98 and a beta of 1.02. The company has a current ratio of 2.19, a quick ratio of 1.98 and a debt-to-equity ratio of 1.76.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 earnings per share for the quarter, beating analysts’ consensus estimates of $4.62 by $0.13. The company had revenue of $10.36 billion during the quarter, compared to analysts’ expectations of $10.33 billion. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The firm’s revenue for the quarter was down 9.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $6.29 earnings per share. Analysts anticipate that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Tuesday, September 30th will be given a $1.62 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.48 dividend on an annualized basis and a yield of 1.4%. Deere & Company’s dividend payout ratio (DPR) is currently 33.87%.

Hedge Funds Weigh In On Deere & Company

Institutional investors and hedge funds have recently made changes to their positions in the stock. Brighton Jones LLC lifted its position in shares of Deere & Company by 39.1% during the 4th quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company’s stock worth $1,927,000 after purchasing an additional 1,278 shares during the last quarter. Vest Financial LLC raised its stake in Deere & Company by 73.5% in the first quarter. Vest Financial LLC now owns 3,837 shares of the industrial products company’s stock valued at $1,801,000 after buying an additional 1,626 shares in the last quarter. Magnus Financial Group LLC lifted its holdings in Deere & Company by 2.8% during the 1st quarter. Magnus Financial Group LLC now owns 1,219 shares of the industrial products company’s stock worth $572,000 after buying an additional 33 shares during the last quarter. Procyon Advisors LLC boosted its position in shares of Deere & Company by 2.6% during the 1st quarter. Procyon Advisors LLC now owns 6,492 shares of the industrial products company’s stock worth $3,047,000 after acquiring an additional 166 shares in the last quarter. Finally, Pines Wealth Management LLC boosted its position in shares of Deere & Company by 15.9% during the 1st quarter. Pines Wealth Management LLC now owns 618 shares of the industrial products company’s stock worth $290,000 after acquiring an additional 85 shares in the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.

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.