Deere & Company (DE) Downgraded to “Underweight” at JPMorgan Chase & Co.

JPMorgan Chase & Co. downgraded shares of Deere & Company (NYSE:DE) from a neutral rating to an underweight rating in a research note released on Tuesday morning, Benzinga reports. They currently have $132.00 target price on the industrial products company’s stock, down from their previous target price of $154.00.

DE has been the topic of several other reports. DZ Bank lowered shares of Deere & Company from a buy rating to a hold rating in a report on Tuesday, February 19th. Zacks Investment Research upgraded shares of Deere & Company from a hold rating to a buy rating and set a $176.00 price objective on the stock in a report on Tuesday, January 15th. Credit Suisse Group reduced their price objective on shares of Deere & Company from $211.00 to $209.00 and set an outperform rating on the stock in a report on Tuesday, February 19th. Barclays restated a buy rating and issued a $180.00 price objective on shares of Deere & Company in a report on Tuesday, February 19th. Finally, Berenberg Bank began coverage on shares of Deere & Company in a report on Thursday, May 9th. They issued a hold rating on the stock. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $176.71.

Shares of DE stock traded down $8.91 on Tuesday, hitting $137.08. 3,759,089 shares of the stock traded hands, compared to its average volume of 1,712,332. The company has a current ratio of 1.98, a quick ratio of 1.68 and a debt-to-equity ratio of 2.46. The stock has a market cap of $46.13 billion, a price-to-earnings ratio of 14.60, a PEG ratio of 1.52 and a beta of 0.90. Deere & Company has a twelve month low of $128.32 and a twelve month high of $169.99.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Friday, May 17th. The industrial products company reported $3.52 earnings per share for the quarter, missing the consensus estimate of $3.57 by ($0.05). The firm had revenue of $10.27 billion for the quarter, compared to analyst estimates of $10.19 billion. Deere & Company had a net margin of 8.85% and a return on equity of 28.83%. The company’s revenue was up 5.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.14 EPS. As a group, equities research analysts predict that Deere & Company will post 11.17 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Friday, March 29th were paid a dividend of $0.76 per share. The ex-dividend date was Thursday, March 28th. This represents a $3.04 dividend on an annualized basis and a yield of 2.22%. Deere & Company’s dividend payout ratio (DPR) is presently 32.37%.

A number of large investors have recently modified their holdings of DE. Whittier Trust Co. boosted its stake in shares of Deere & Company by 0.3% during the fourth quarter. Whittier Trust Co. now owns 24,423 shares of the industrial products company’s stock valued at $3,643,000 after acquiring an additional 62 shares during the last quarter. Howland Capital Management LLC raised its position in shares of Deere & Company by 0.4% during the fourth quarter. Howland Capital Management LLC now owns 15,712 shares of the industrial products company’s stock worth $2,344,000 after purchasing an additional 66 shares during the period. Sowell Financial Services LLC raised its position in shares of Deere & Company by 2.2% during the fourth quarter. Sowell Financial Services LLC now owns 3,060 shares of the industrial products company’s stock worth $457,000 after purchasing an additional 66 shares during the period. First Manhattan Co. raised its position in shares of Deere & Company by 4.2% during the first quarter. First Manhattan Co. now owns 1,699 shares of the industrial products company’s stock worth $271,000 after purchasing an additional 68 shares during the period. Finally, Enterprise Financial Services Corp raised its position in Deere & Company by 2.5% during the first quarter. Enterprise Financial Services Corp now owns 2,838 shares of the industrial products company’s stock valued at $454,000 after buying an additional 68 shares during the period. Institutional investors own 68.93% of the company’s stock.

About Deere & Company

Deere & Company manufactures and distributes various equipment worldwide. The company operates through three segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment offers agriculture and turf equipment, and related parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; and tillage, seeding, and application equipment.

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Analyst Recommendations for Deere & Company (NYSE:DE)

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