Deere & Company (DE) Downgraded by JPMorgan Chase & Co.

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Deere & Company (NYSE:DE) was downgraded by investment analysts at JPMorgan Chase & Co. from a “neutral” rating to an “underweight” rating in a report issued on Tuesday, Marketbeat reports. They currently have a $132.00 price objective on the industrial products company’s stock, down from their previous price objective of $154.00. JPMorgan Chase & Co.‘s price target would indicate a potential downside of 10.27% from the stock’s current price.

DE has been the topic of a number of other reports. Zacks Investment Research raised Deere & Company from a “hold” rating to a “buy” rating and set a $178.00 price objective on the stock in a research note on Thursday, January 24th. Citigroup cut their price objective on Deere & Company from $185.00 to $180.00 and set a “buy” rating on the stock in a research note on Tuesday, February 19th. Barclays reissued a “buy” rating and issued a $180.00 price objective on shares of Deere & Company in a research note on Tuesday, February 19th. Bank of America downgraded Deere & Company from a “buy” rating to a “neutral” rating and cut their price objective for the company from $173.00 to $170.00 in a research note on Wednesday, February 13th. Finally, Credit Suisse Group cut their price objective on Deere & Company from $211.00 to $209.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 19th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $176.71.

Shares of NYSE DE opened at $147.11 on Tuesday. Deere & Company has a one year low of $128.32 and a one year high of $169.99. The stock has a market cap of $46.59 billion, a price-to-earnings ratio of 15.67, a price-to-earnings-growth ratio of 1.54 and a beta of 0.90. The company has a debt-to-equity ratio of 2.46, a current ratio of 1.98 and a quick ratio of 1.68.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Friday, February 15th. The industrial products company reported $1.54 EPS for the quarter, missing the Zacks’ consensus estimate of $1.76 by ($0.22). Deere & Company had a return on equity of 28.83% and a net margin of 8.85%. The business had revenue of $6.94 billion for the quarter, compared to analyst estimates of $6.83 billion. During the same quarter in the previous year, the business posted $1.31 earnings per share. The company’s revenue was up 16.2% compared to the same quarter last year. Equities analysts expect that Deere & Company will post 11.17 EPS for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Moloney Securities Asset Management LLC grew its holdings in shares of Deere & Company by 9.1% during the 4th quarter. Moloney Securities Asset Management LLC now owns 2,072 shares of the industrial products company’s stock worth $309,000 after purchasing an additional 172 shares in the last quarter. WP Advisors LLC acquired a new stake in shares of Deere & Company during the 1st quarter worth approximately $70,000. Royal London Asset Management Ltd. acquired a new stake in shares of Deere & Company during the 4th quarter worth approximately $42,481,000. Private Trust Co. NA grew its holdings in shares of Deere & Company by 6.5% during the 1st quarter. Private Trust Co. NA now owns 2,580 shares of the industrial products company’s stock worth $412,000 after purchasing an additional 158 shares in the last quarter. Finally, Osborne Partners Capital Management LLC acquired a new stake in shares of Deere & Company during the 1st quarter worth approximately $559,000. 68.93% of the stock is currently owned by hedge funds and other institutional investors.

About Deere & Company

Deere & Company manufactures and distributes various equipment worldwide. The company operates through three segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment offers agriculture and turf equipment, and related parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; and tillage, seeding, and application equipment.

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