Deere & Company (NYSE:DE) Upgraded by Wall Street Zen to "Hold" Rating

Key Points

• Deere & Company has been upgraded from a "sell" rating to a "hold" rating by Wall Street Zen, reflecting a shift in analysts' sentiment towards the stock.
• The company reported $4.75 earnings per share for the last quarter, exceeding expectations and showcasing a net margin of 11.72%, although revenue declined 9% year-over-year.
• Institutional investors hold 68.58% of Deere's stock, with several hedge funds increasing their stakes, indicating strong institutional interest in the company.

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

DE has been the topic of a number of other reports. Truist Financial dropped their price target on Deere & Company from $619.00 to $602.00 and set a "buy" rating on the stock in a report on Friday, August 15th. Oppenheimer lifted their price target on Deere & Company from $560.00 to $566.00 and gave the stock an "outperform" rating in a report on Friday, August 15th. BMO Capital Markets reiterated a "market perform" rating and set a $460.00 price target (up from $425.00) on shares of Deere & Company in a report on Wednesday, May 21st. Raymond James Financial lifted their price target on Deere & Company from $530.00 to $560.00 and gave the stock an "outperform" rating in a report on Friday, May 16th. Finally, Barclays lifted their price target on Deere & Company from $475.00 to $530.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, Deere & Company currently has an average rating of "Moderate Buy" and an average price target of $523.87.

Deere & Company Stock Up 1.7%

DE stock opened at $495.0920 on Friday. Deere & Company has a twelve month low of $374.46 and a twelve month high of $533.78. The company has a quick ratio of 1.98, a current ratio of 2.19 and a debt-to-equity ratio of 1.76. The stock's 50 day moving average is $508.58 and its 200-day moving average is $490.59. The firm has a market capitalization of $134.08 billion, a PE ratio of 25.88, a P/E/G ratio of 3.17 and a beta of 1.06.

Deere & Company (NYSE:DE - Get Free Report) last posted its earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share for the quarter, beating analysts' consensus estimates of $4.62 by $0.13. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The company had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.33 billion. During the same quarter last year, the company earned $6.29 earnings per share. The company's revenue for the quarter was down 9.0% on a year-over-year basis. Sell-side analysts expect that Deere & Company will post 19.32 EPS for the current fiscal year.

Institutional Trading of Deere & Company

Hedge funds have recently made changes to their positions in the company. Assenagon Asset Management S.A. raised its stake in shares of Deere & Company by 58.9% in the first quarter. Assenagon Asset Management S.A. now owns 13,625 shares of the industrial products company's stock valued at $6,395,000 after buying an additional 5,053 shares during the period. OVERSEA CHINESE BANKING Corp Ltd grew its position in shares of Deere & Company by 10.7% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 8,280 shares of the industrial products company's stock valued at $3,863,000 after purchasing an additional 798 shares in the last quarter. Providence Capital Advisors LLC grew its position in shares of Deere & Company by 2.1% in the first quarter. Providence Capital Advisors LLC now owns 14,639 shares of the industrial products company's stock valued at $6,871,000 after purchasing an additional 303 shares in the last quarter. ASR Vermogensbeheer N.V. purchased a new position in shares of Deere & Company in the first quarter valued at $13,588,000. Finally, Bragg Financial Advisors Inc grew its position in shares of Deere & Company by 12.7% in the first quarter. Bragg Financial Advisors Inc now owns 7,213 shares of the industrial products company's stock valued at $3,386,000 after purchasing an additional 813 shares in the last quarter. 68.58% of the stock is currently owned by 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.

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