Deere & Company (NYSE:DE) Stock Rating Upgraded by Wall Street Zen

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

Several other research analysts have also recently weighed in on DE. Citigroup boosted their price objective on Deere & Company from $450.00 to $550.00 and gave the stock a "neutral" rating in a research report on Monday. DA Davidson reissued a "buy" rating and issued a $542.00 price target on shares of Deere & Company in a report on Friday, May 16th. Morgan Stanley increased their price target on shares of Deere & Company from $450.00 to $500.00 and gave the company an "overweight" rating in a research report on Wednesday, April 16th. Oppenheimer raised their price objective on shares of Deere & Company from $513.00 to $555.00 and gave the stock an "outperform" rating in a report on Friday, May 16th. Finally, Evercore ISI lifted their price objective on shares of Deere & Company from $455.00 to $493.00 and gave the stock an "in-line" rating in a research report on Monday. Thirteen investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $516.75.

Deere & Company Stock Down 0.0%

Shares of DE traded down $0.12 during trading hours on Thursday, reaching $514.54. 218,975 shares of the stock traded hands, compared to its average volume of 1,438,168. Deere & Company has a 52 week low of $340.20 and a 52 week high of $533.78. The company has a market cap of $139.65 billion, a price-to-earnings ratio of 22.81, a PEG ratio of 2.14 and a beta of 1.08. The stock has a fifty day simple moving average of $471.37 and a 200 day simple moving average of $456.81. 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 posted its earnings results on Thursday, May 15th. The industrial products company reported $6.64 EPS for the quarter, topping the consensus estimate of $5.72 by $0.92. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. The firm had revenue of $11.17 billion for the quarter, compared to analysts' expectations of $10.80 billion. During the same quarter last year, the firm earned $8.53 EPS. The company's quarterly revenue was down 17.9% compared to the same quarter last year. On average, equities analysts forecast that Deere & Company will post 19.32 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in shares of Deere & Company in the fourth quarter worth about $1,244,094,000. GAMMA Investing LLC increased its holdings in Deere & Company by 61,215.9% during the 1st quarter. GAMMA Investing LLC now owns 1,753,022 shares of the industrial products company's stock worth $822,781,000 after acquiring an additional 1,750,163 shares during the period. Castlekeep Investment Advisors LLC purchased a new stake in Deere & Company in the 4th quarter worth approximately $541,437,000. Nuveen LLC purchased a new stake in Deere & Company in the 1st quarter worth approximately $571,073,000. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Deere & Company by 19.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,589,760 shares of the industrial products company's stock valued at $2,792,082,000 after purchasing an additional 1,095,736 shares during the period. Institutional investors own 68.58% of the company's stock.

Deere & Company Company Profile

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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