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

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

A number of other brokerages also recently commented on DE. Truist Financial lowered their price target on shares of Deere & Company from $619.00 to $602.00 and set a "buy" rating for the company in a report on Friday, August 15th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Deere & Company in a research note on Saturday, September 27th. Evercore ISI set a $491.00 target price on shares of Deere & Company in a report on Tuesday, August 19th. Melius Research upgraded shares of Deere & Company from a "hold" rating to a "strong-buy" rating in a report on Friday, June 6th. Finally, Robert W. Baird dropped their target price on Deere & Company from $520.00 to $488.00 and set a "neutral" rating on the stock in a research report on Friday, August 15th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and ten have assigned a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $518.18.

Deere & Company Stock Up 0.2%

NYSE:DE opened at $462.59 on Friday. Deere & Company has a 1-year low of $387.03 and a 1-year high of $533.78. The firm's 50-day moving average price is $484.64 and its 200-day moving average price is $489.09. The company has a market capitalization of $125.05 billion, a PE ratio of 24.18, a P/E/G ratio of 2.97 and a beta of 1.02. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.19 and a quick ratio of 1.98.

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Summit Financial Wealth Advisors LLC raised its holdings in Deere & Company by 38.0% during the third quarter. Summit Financial Wealth Advisors LLC now owns 1,403 shares of the industrial products company's stock worth $634,000 after purchasing an additional 386 shares during the last quarter. Aaron Wealth Advisors LLC lifted its position in Deere & Company by 29.8% during the third quarter. Aaron Wealth Advisors LLC now owns 2,429 shares of the industrial products company's stock worth $1,111,000 after buying an additional 558 shares during the period. Shorepoint Capital Partners LLC purchased a new position in Deere & Company during the third quarter worth about $725,000. Park National Corp OH raised its holdings in shares of Deere & Company by 3.0% in the 3rd quarter. Park National Corp OH now owns 89,175 shares of the industrial products company's stock worth $40,776,000 after purchasing an additional 2,628 shares during the period. Finally, Farmers Trust Co. raised its holdings in shares of Deere & Company by 2.4% in the 3rd quarter. Farmers Trust Co. now owns 1,061 shares of the industrial products company's stock worth $485,000 after purchasing an additional 25 shares during the period. Institutional investors and hedge funds own 68.58% of the company's stock.

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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