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

Deere & Company (NYSE:DE) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Sunday.

A number of other equities analysts have also weighed in on the company. DA Davidson reduced their price objective on Deere & Company from $775.00 to $685.00 and set a “buy” rating for the company in a research note on Friday, May 22nd. Barclays upped their target price on Deere & Company from $530.00 to $640.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 31st. Jefferies Financial Group raised Deere & Company from an “underperform” rating to a “hold” rating and set a $550.00 target price on the stock in a report on Wednesday, April 8th. JPMorgan Chase & Co. lifted their price target on Deere & Company from $560.00 to $590.00 and gave the company a “neutral” rating in a research report on Thursday, June 4th. Finally, Truist Financial boosted their price target on Deere & Company from $759.00 to $812.00 and gave the company a “buy” rating in a report on Thursday. Fourteen research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, Deere & Company presently has an average rating of “Moderate Buy” and an average target price of $642.23.

Deere & Company Price Performance

Shares of Deere & Company stock opened at $621.09 on Friday. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.95 and a current ratio of 2.18. The stock has a 50 day moving average price of $578.41 and a 200-day moving average price of $562.69. Deere & Company has a one year low of $433.00 and a one year high of $674.19. The stock has a market cap of $167.66 billion, a price-to-earnings ratio of 35.19, a price-to-earnings-growth ratio of 2.30 and a beta of 0.89.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.70 by $0.85. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The company had revenue of $13.37 billion during the quarter, compared to the consensus estimate of $11.55 billion. During the same period in the previous year, the firm posted $6.64 earnings per share. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. Equities analysts expect that Deere & Company will post 18.13 EPS for the current year.

Institutional Investors Weigh In On Deere & Company

Hedge funds have recently modified their holdings of the company. Strategic Advocates LLC purchased a new position in shares of Deere & Company in the 3rd quarter valued at about $25,000. Portus Wealth Advisors LLC acquired a new position in Deere & Company in the 1st quarter worth about $32,000. Key Capital Management INC purchased a new position in Deere & Company during the fourth quarter worth approximately $27,000. Timmons Wealth Management LLC purchased a new position in Deere & Company during the fourth quarter worth approximately $29,000. Finally, McIlrath & Eck LLC acquired a new stake in Deere & Company in the fourth quarter valued at approximately $30,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Company Profile

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.