Deere & Company (NYSE:DE) Raised to Hold at Wall Street Zen

Deere & Company (NYSE:DE - Get Free Report) was upgraded by Wall Street Zen from a "sell" rating to a "hold" rating in a report released on Thursday.

Other equities analysts have also recently issued research reports about the company. Morgan Stanley raised their price target on Deere & Company from $450.00 to $500.00 and gave the company an "overweight" rating in a report on Wednesday, April 16th. JPMorgan Chase & Co. increased their target price on Deere & Company from $490.00 to $540.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. UBS Group cut their target price on shares of Deere & Company from $462.00 to $440.00 and set a "neutral" rating for the company in a report on Monday, April 7th. Bank of America upped their price target on shares of Deere & Company from $495.00 to $556.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Finally, The Goldman Sachs Group reiterated a "buy" rating on shares of Deere & Company in a research report on Thursday, May 15th. Thirteen investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $516.75.

Deere & Company Price Performance

DE traded down $0.66 during trading on Thursday, hitting $509.41. 523,733 shares of the company traded hands, compared to its average volume of 1,430,354. The company has a market cap of $138.26 billion, a PE ratio of 22.58, a P/E/G ratio of 2.14 and a beta of 1.08. The stock's 50-day simple moving average is $473.20 and its two-hundred day simple moving average is $459.86. Deere & Company has a 1 year low of $340.20 and a 1 year high of $533.78. The company has a current ratio of 2.22, a quick ratio of 1.98 and a debt-to-equity ratio of 1.94.

Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly earnings data on Thursday, May 15th. The industrial products company reported $6.64 earnings per share for the quarter, beating analysts' consensus estimates of $5.72 by $0.92. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. The firm had revenue of $11.17 billion during the quarter, compared to analyst estimates of $10.80 billion. During the same quarter last year, the business posted $8.53 earnings per share. The business's quarterly revenue was down 17.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Deere & Company

Large investors have recently bought and sold shares of the company. Activest Wealth Management raised its stake in Deere & Company by 2,750.0% in the 1st quarter. Activest Wealth Management now owns 57 shares of the industrial products company's stock valued at $27,000 after purchasing an additional 55 shares during the last quarter. Pineridge Advisors LLC raised its position in shares of Deere & Company by 60.5% in the fourth quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company's stock valued at $29,000 after buying an additional 26 shares during the last quarter. Hughes Financial Services LLC purchased a new position in shares of Deere & Company in the first quarter worth about $29,000. Cornerstone Planning Group LLC lifted its stake in shares of Deere & Company by 116.1% in the first quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company's stock worth $31,000 after buying an additional 36 shares in the last quarter. Finally, YANKCOM Partnership purchased a new stake in Deere & Company during the 4th quarter valued at about $34,000. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

About Deere & Company

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.