Vertical Research Lowers Deere & Company (DE) to Hold

Deere & Company (NYSE:DE) was downgraded by stock analysts at Vertical Research from a “buy” rating to a “hold” rating in a research note issued to investors on Monday, The Fly reports.

Other research analysts have also issued research reports about the stock. DZ Bank lowered shares of Deere & Company from a “buy” rating to a “hold” rating in a research note on Tuesday, February 19th. Credit Suisse Group reduced their price objective on shares of Deere & Company from $211.00 to $209.00 and set an “outperform” rating for the company in a research note on Tuesday, February 19th. Zacks Investment Research upgraded shares of Deere & Company from a “hold” rating to a “buy” rating and set a $184.00 price objective for the company in a research note on Monday, February 4th. Barclays reiterated a “buy” rating and set a $180.00 price objective on shares of Deere & Company in a research note on Tuesday, February 19th. Finally, Berenberg Bank assumed coverage on shares of Deere & Company in a research note on Thursday, May 9th. They set a “hold” rating for the company. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $171.47.

NYSE:DE opened at $134.82 on Monday. Deere & Company has a one year low of $128.32 and a one year high of $169.99. The company has a debt-to-equity ratio of 2.46, a current ratio of 1.98 and a quick ratio of 1.68. The stock has a market capitalization of $42.94 billion, a PE ratio of 14.36, a price-to-earnings-growth ratio of 1.42 and a beta of 0.90.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Friday, May 17th. The industrial products company reported $3.52 EPS for the quarter, missing the consensus estimate of $3.57 by ($0.05). Deere & Company had a net margin of 8.85% and a return on equity of 28.83%. The business had revenue of $10.27 billion during the quarter, compared to the consensus estimate of $10.19 billion. During the same quarter in the prior year, the firm posted $3.14 EPS. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. Research analysts forecast that Deere & Company will post 11.16 earnings per share for the current year.

Institutional investors have recently modified their holdings of the business. Destination Wealth Management boosted its holdings in shares of Deere & Company by 20,500.0% in the 4th quarter. Destination Wealth Management now owns 206 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 205 shares during the last quarter. Private Ocean LLC boosted its holdings in Deere & Company by 560.0% during the first quarter. Private Ocean LLC now owns 198 shares of the industrial products company’s stock worth $32,000 after buying an additional 168 shares in the last quarter. Ellis Investment Partners LLC purchased a new stake in Deere & Company during the first quarter worth $33,000. Oregon Public Employees Retirement Fund boosted its holdings in Deere & Company by 14,550.1% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 5,214,983 shares of the industrial products company’s stock worth $35,000 after buying an additional 5,179,386 shares in the last quarter. Finally, Athena Capital Advisors LLC purchased a new stake in Deere & Company during the fourth quarter worth $36,000. Institutional investors and hedge funds own 68.93% of the company’s stock.

Deere & Company Company Profile

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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