Deere & Company (NYSE:DE) Downgraded by Hsbc Global Res to “Hold”

Hsbc Global Res lowered shares of Deere & Company (NYSE:DE) from a strong-buy rating to a hold rating in a research note released on Monday, Zacks.com reports.

Several other analysts have also weighed in on the company. Evercore ISI increased their price target on Deere & Company from $371.00 to $378.00 and gave the company an in-line rating in a report on Monday. Morgan Stanley increased their price target on Deere & Company from $430.00 to $450.00 in a report on Wednesday, May 15th. TD Cowen increased their price target on Deere & Company from $383.00 to $390.00 and gave the company a hold rating in a report on Friday, May 17th. Deutsche Bank Aktiengesellschaft reduced their target price on Deere & Company from $402.00 to $389.00 and set a hold rating on the stock in a research note on Thursday, August 8th. Finally, Citigroup reduced their target price on Deere & Company from $395.00 to $370.00 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 given a buy rating to the company. Based on data from MarketBeat.com, Deere & Company has a consensus rating of Hold and a consensus target price of $415.50.

Deere & Company Trading Down 0.1 %

DE stock opened at $376.59 on Monday. Deere & Company has a 1-year low of $340.20 and a 1-year high of $423.35. The company has a debt-to-equity ratio of 1.81, a current ratio of 2.01 and a quick ratio of 1.80. The company has a market capitalization of $103.78 billion, a price-to-earnings ratio of 11.34, a PEG ratio of 1.59 and a beta of 0.93. The business has a 50 day simple moving average of $367.82 and a two-hundred day simple moving average of $380.02.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, beating analysts’ consensus estimates of $5.63 by $0.66. The firm had revenue of $11.39 billion during the quarter, compared to the consensus estimate of $10.94 billion. Deere & Company had a return on equity of 42.26% and a net margin of 16.15%. The company’s quarterly revenue was down 20.3% compared to the same quarter last year. During the same period in the prior year, the company earned $10.20 EPS. Research analysts anticipate that Deere & Company will post 25.41 EPS for the current fiscal year.

Deere & Company Announces Dividend

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

Insider Buying and Selling

In related news, insider Cory J. Reed sold 13,370 shares of the firm’s stock in a transaction on Monday, June 24th. The shares were 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 $15,725,268.46. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.26% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Deere & Company

Several institutional investors have recently bought and sold shares of DE. Tompkins Financial Corp lifted its stake in shares of Deere & Company by 2.6% in the first quarter. Tompkins Financial Corp now owns 981 shares of the industrial products company’s stock worth $403,000 after buying an additional 25 shares in the last quarter. Global Retirement Partners LLC raised its holdings in Deere & Company by 0.7% in the 1st quarter. Global Retirement Partners LLC now owns 3,768 shares of the industrial products company’s stock valued at $1,548,000 after acquiring an additional 26 shares during the last quarter. Blue Chip Partners LLC grew its position in shares of Deere & Company by 2.3% in the fourth quarter. Blue Chip Partners LLC now owns 1,223 shares of the industrial products company’s stock valued at $489,000 after purchasing an additional 27 shares in the last quarter. Field & Main Bank increased its holdings in shares of Deere & Company by 0.7% in the first quarter. Field & Main Bank now owns 4,050 shares of the industrial products company’s stock valued at $1,663,000 after purchasing an additional 27 shares during the last quarter. Finally, Range Financial Group LLC increased its holdings in shares of Deere & Company by 5.2% in the first quarter. Range Financial Group LLC now owns 548 shares of the industrial products company’s stock valued at $225,000 after purchasing an additional 27 shares during the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

About Deere & Company

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.