Deere & Company (NYSE:DE) Stock Rating Lowered by HSBC

HSBC cut shares of Deere & Company (NYSE:DE) from a buy rating to a hold rating in a report released on Monday, MarketBeat Ratings reports.

A number of other analysts have also recently commented on the stock. BMO Capital Markets assumed coverage on shares of Deere & Company in a research report on Friday, August 9th. They issued a market perform rating and a $400.00 price objective for the company. Deutsche Bank Aktiengesellschaft lowered their price target on Deere & Company from $402.00 to $389.00 and set a hold rating for the company in a report on Thursday, August 8th. Truist Financial reiterated a buy rating and set a $443.00 price objective (up previously from $439.00) on shares of Deere & Company in a report on Friday, August 16th. Raymond James assumed coverage on Deere & Company in a research note on Friday, June 28th. They set an outperform rating and a $420.00 target price for the company. Finally, JPMorgan Chase & Co. cut their price target on shares of Deere & Company from $375.00 to $360.00 and set a neutral rating on the stock in a research note on Tuesday, August 13th. Fourteen investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of Hold and an average target price of $415.50.

Deere & Company Price Performance

Shares of DE opened at $376.59 on Monday. The stock has a market cap of $103.78 billion, a P/E ratio of 11.34, a price-to-earnings-growth ratio of 1.59 and a beta of 0.93. Deere & Company has a 1 year low of $340.20 and a 1 year high of $423.35. The stock’s 50-day moving average price is $367.82 and its two-hundred day moving average price is $380.02. The company has a current ratio of 2.01, a quick ratio of 1.80 and a debt-to-equity ratio of 1.81.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, topping the consensus estimate of $5.63 by $0.66. Deere & Company had a net margin of 16.15% and a return on equity of 42.26%. The business had revenue of $11.39 billion for the quarter, compared to analyst estimates of $10.94 billion. During the same quarter last year, the firm earned $10.20 EPS. Deere & Company’s quarterly revenue was down 20.3% compared to the same quarter last year. On average, equities analysts predict that Deere & Company will post 25.41 earnings per share for the current year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 8th. Stockholders of record on Friday, June 28th were issued a $1.47 dividend. This represents a $5.88 annualized dividend and a dividend yield of 1.56%. The ex-dividend date of this dividend was Friday, June 28th. Deere & Company’s payout ratio is 17.70%.

Insider Buying and Selling

In other news, insider Cory J. Reed sold 13,370 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $377.63, for a total transaction of $5,048,913.10. Following the sale, the insider now owns 41,642 shares in the company, valued at approximately $15,725,268.46. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.26% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Deere & Company

Institutional investors and hedge funds have recently modified their holdings of the company. International Assets Investment Management LLC lifted its holdings in Deere & Company by 15.9% during the 4th quarter. International Assets Investment Management LLC now owns 2,102 shares of the industrial products company’s stock valued at $841,000 after purchasing an additional 288 shares during the last quarter. Tennessee Valley Asset Management Partners acquired a new stake in shares of Deere & Company during the 4th quarter worth about $200,000. Western Wealth Management LLC boosted its holdings in shares of Deere & Company by 7.9% during the 4th quarter. Western Wealth Management LLC now owns 870 shares of the industrial products company’s stock worth $348,000 after buying an additional 64 shares during the period. CWM LLC grew its stake in Deere & Company by 14.9% in the 4th quarter. CWM LLC now owns 15,744 shares of the industrial products company’s stock valued at $6,295,000 after buying an additional 2,046 shares during the last quarter. Finally, Handelsbanken Fonder AB raised its holdings in Deere & Company by 2.2% in the 4th quarter. Handelsbanken Fonder AB now owns 96,617 shares of the industrial products company’s stock valued at $38,634,000 after acquiring an additional 2,075 shares during the period. 68.58% of the stock is owned by institutional investors.

Deere & Company Company Profile

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.