Deere & Company (NYSE:DE) Downgraded to Sell Rating by Wall Street Zen

by · The Cerbat Gem

Deere & Company (NYSE:DE – Get Free Report) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Friday.

DE has been the topic of several other research reports. Daiwa Capital Markets cut their price target on Deere & Company from $565.00 to $530.00 and set an “outperform” rating on the stock in a research note on Thursday, September 25th. UBS Group reiterated a “buy” rating on shares of Deere & Company in a report on Tuesday. Wolfe Research cut their target price on shares of Deere & Company from $550.00 to $520.00 and set an “outperform” rating on the stock in a research report on Friday, October 3rd. Zacks Research lowered shares of Deere & Company from a “hold” rating to a “strong sell” rating in a report on Monday, October 20th. Finally, Citigroup dropped their price objective on shares of Deere & Company from $525.00 to $515.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 7th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $519.45.

Read Our Latest Stock Analysis on DE

Deere & Company Trading Down 0.8%

Shares of Deere & Company stock traded down $3.92 on Friday, hitting $465.95. 1,682,593 shares of the company traded hands, compared to its average volume of 1,378,387. The company has a current ratio of 2.19, a quick ratio of 1.98 and a debt-to-equity ratio of 1.76. The company has a market cap of $125.96 billion, a PE ratio of 24.36, a PEG ratio of 3.05 and a beta of 1.04. The stock’s 50 day moving average price is $467.10 and its 200-day moving average price is $490.59. Deere & Company has a 52 week low of $403.01 and a 52 week high of $533.78.

Deere & Company (NYSE:DE – Get Free Report) last announced its quarterly earnings data on Wednesday, November 26th. The industrial products company reported $3.93 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.96 by ($0.03). The firm had revenue of $12.39 billion during the quarter, compared to the consensus estimate of $9.77 billion. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The firm’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same period last year, the company earned $4.55 EPS. Equities research analysts predict that Deere & Company will post 19.32 EPS for the current year.

Insider Buying and Selling at Deere & Company

In other news, CEO John C. May II sold 11,106 shares of Deere & Company stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $500.08, for a total value of $5,553,888.48. Following the transaction, the chief executive officer owned 112,453 shares of the company’s stock, valued at $56,235,496.24. The trade was a 8.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.29% of the company’s stock.

Institutional Investors Weigh In On Deere & Company

Hedge funds and other institutional investors have recently bought and sold shares of the company. Mid American Wealth Advisory Group Inc. acquired a new position in shares of Deere & Company during the second quarter worth $25,000. Strategic Advocates LLC acquired a new stake in Deere & Company in the third quarter worth about $25,000. Activest Wealth Management grew its stake in shares of Deere & Company by 2,750.0% during the first quarter. Activest Wealth Management now owns 57 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 55 shares during the last quarter. Howard Hughes Medical Institute acquired a new position in shares of Deere & Company during the second quarter valued at about $27,000. Finally, Wealth Watch Advisors INC acquired a new position in shares of Deere & Company during the third quarter valued at about $32,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

About Deere & Company

(Get Free Report)

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.

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