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Deere & Company's (DE) Hold (C+) Rating Reiterated at Weiss Ratings

Deere & Company logo with Industrials background

Key Points

  • Weiss Ratings has reiterated a "hold (C+)" rating for Deere & Company's stock, indicating a cautious outlook based on the company's current performance.
  • Several analysts have adjusted their price targets for Deere, with JPMorgan lowering it from $500 to $495 while Truist Financial raised it from $602 to $609, amidst a general consensus of a "Moderate Buy" rating.
  • Deere reported a quarterly earnings per share (EPS) of $4.75, beating estimates but showing a year-over-year revenue decline of 9.0%, prompting concerns about future growth.
  • Five stocks we like better than Deere & Company.

Deere & Company (NYSE:DE - Get Free Report)'s stock had its "hold (c+)" rating restated by equities research analysts at Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

Several other research analysts have also recently issued reports on DE. JPMorgan Chase & Co. lowered their target price on shares of Deere & Company from $500.00 to $495.00 and set a "neutral" rating for the company in a report on Tuesday, September 2nd. DA Davidson decreased their price target on shares of Deere & Company from $595.00 to $580.00 and set a "buy" rating for the company in a research note on Monday, August 18th. Oppenheimer decreased their price target on shares of Deere & Company from $566.00 to $512.00 and set an "outperform" rating for the company in a research note on Thursday, September 18th. Wolfe Research decreased their price target on shares of Deere & Company from $550.00 to $520.00 and set an "outperform" rating for the company in a research note on Friday, October 3rd. Finally, Truist Financial increased their price target on shares of Deere & Company from $602.00 to $609.00 and gave the stock a "buy" rating in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and ten have given a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $518.59.

Read Our Latest Stock Analysis on DE

Deere & Company Price Performance

Shares of NYSE DE traded down $0.45 during trading on Wednesday, hitting $461.06. The company had a trading volume of 915,276 shares, compared to its average volume of 1,506,790. The stock has a fifty day simple moving average of $481.60 and a two-hundred day simple moving average of $488.75. 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 firm has a market capitalization of $124.64 billion, a price-to-earnings ratio of 24.10, a price-to-earnings-growth ratio of 2.97 and a beta of 1.02. Deere & Company has a fifty-two week low of $387.03 and a fifty-two week high of $533.78.

Deere & Company (NYSE:DE - Get Free Report) last released 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 business 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 revenue was down 9.0% on a year-over-year basis. During the same period in the previous year, the firm earned $6.29 EPS. On average, research analysts expect that Deere & Company will post 19.32 earnings per share for the current year.

Hedge Funds Weigh In On Deere & Company

Hedge funds have recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. lifted its holdings in 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 worth $6,395,000 after purchasing an additional 5,053 shares during the period. OLD National Bancorp IN increased its holdings in shares of Deere & Company by 2.6% in the 2nd quarter. OLD National Bancorp IN now owns 24,000 shares of the industrial products company's stock valued at $12,204,000 after purchasing an additional 610 shares during the period. OVERSEA CHINESE BANKING Corp Ltd grew its stake in shares of Deere & Company by 10.7% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 8,280 shares of the industrial products company's stock valued at $3,863,000 after buying an additional 798 shares in the last quarter. Providence Capital Advisors LLC grew its stake in shares of Deere & Company by 2.1% in the 1st quarter. Providence Capital Advisors LLC now owns 14,639 shares of the industrial products company's stock valued at $6,871,000 after buying an additional 303 shares in the last quarter. Finally, Bragg Financial Advisors Inc boosted its position in Deere & Company by 12.7% during the first quarter. Bragg Financial Advisors Inc now owns 7,213 shares of the industrial products company's stock worth $3,386,000 after purchasing an additional 813 shares during the period. Institutional investors and hedge funds own 68.58% of the company's stock.

About Deere & Company

(Get Free Report)

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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Analyst Recommendations for Deere & Company (NYSE:DE)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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