Deere & Company (NYSE:DE) Rating Lowered to Hold at Hsbc Global Res

Deere & Company (NYSE:DE) was downgraded by stock analysts at Hsbc Global Res from a “strong-buy” rating to a “hold” rating in a note issued to investors on Monday, Zacks.com reports.

A number of other research firms also recently weighed in on DE. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a research report on Thursday, August 8th. HSBC lowered shares of Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday. Stifel Nicolaus lifted their price target on shares of Deere & Company from $425.00 to $450.00 and gave the stock a “buy” rating in a research note on Friday, May 17th. Morgan Stanley lifted their price target on shares of Deere & Company from $430.00 to $450.00 in a research note on Wednesday, May 15th. Finally, Truist Financial restated a “buy” rating and issued a $443.00 price target (up previously from $439.00) on shares of Deere & Company in a research note on Friday, August 16th. Fifteen equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $421.90.

Deere & Company Stock Down 0.1 %

Shares of Deere & Company stock opened at $372.59 on Monday. Deere & Company has a 1-year low of $340.20 and a 1-year high of $423.35. The company has a market capitalization of $102.67 billion, a PE ratio of 11.22, a P/E/G ratio of 1.59 and a beta of 0.93. 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 business has a 50-day moving average of $367.71 and a 200-day moving average of $380.07.

Deere & Company (NYSE:DE) last issued its quarterly 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. Deere & Company had a return on equity of 42.26% and a net margin of 16.15%. The firm had revenue of $11.39 billion during the quarter, compared to the consensus estimate of $10.94 billion. During the same quarter in the prior year, the business posted $10.20 earnings per share. Deere & Company’s revenue for the quarter was down 20.3% on a year-over-year basis. As a group, equities analysts forecast that Deere & Company will post 25.41 EPS for the current fiscal year.

Insider Activity

In other news, insider Cory J. Reed sold 13,370 shares of the business’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 completion of the transaction, the insider now owns 41,642 shares of the company’s stock, valued at $15,725,268.46. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.26% of the company’s stock.

Hedge Funds Weigh In On Deere & Company

Several hedge funds and other institutional investors have recently modified their holdings of DE. Norges Bank acquired a new stake in Deere & Company in the fourth quarter worth about $1,248,036,000. Parnassus Investments LLC lifted its holdings in Deere & Company by 22.4% in the fourth quarter. Parnassus Investments LLC now owns 3,856,171 shares of the industrial products company’s stock worth $1,541,967,000 after purchasing an additional 705,771 shares during the period. Swedbank AB acquired a new stake in Deere & Company in the first quarter worth about $191,628,000. Mawer Investment Management Ltd. acquired a new stake in Deere & Company in the second quarter worth about $166,937,000. Finally, Dimensional Fund Advisors LP lifted its holdings in Deere & Company by 15.0% in the second quarter. Dimensional Fund Advisors LP now owns 2,146,441 shares of the industrial products company’s stock worth $802,037,000 after purchasing an additional 279,627 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.

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.