Deere & Company (NYSE:DE) Cut to Sell at Wall Street Zen

Wall Street Zen lowered shares of Deere & Company (NYSE:DE) from a hold rating to a sell rating in a research report sent to investors on Saturday.

Several other analysts have also recently weighed in on DE. Evercore ISI set a $491.00 price objective on shares of Deere & Company in a research note on Tuesday, August 19th. Wolfe Research dropped 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 report on Friday, October 3rd. Daiwa Capital Markets cut their price target on Deere & Company from $565.00 to $530.00 and set an “outperform” rating for the company in a research note on Thursday, September 25th. UBS Group reissued a “buy” rating on shares of Deere & Company in a research report on Tuesday, October 28th. Finally, Truist Financial lifted their price objective on Deere & Company from $602.00 to $609.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Deere & Company presently has a consensus rating of “Moderate Buy” and an average target price of $518.72.

Deere & Company Stock Performance

NYSE DE opened at $475.08 on Friday. The firm has a 50-day moving average of $465.76 and a 200-day moving average of $490.64. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.98 and a current ratio of 2.19. The stock has a market cap of $128.43 billion, a PE ratio of 24.83, a P/E/G ratio of 3.05 and a beta of 1.04. Deere & Company has a 52-week low of $387.03 and a 52-week high of $533.78.

Deere & Company (NYSE:DE) 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 the consensus estimate of $4.62 by $0.13. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The business had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.33 billion. During the same period in the previous year, the company posted $6.29 EPS. The firm’s quarterly revenue was down 9.0% on a year-over-year basis. On average, sell-side analysts anticipate that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 10th. Investors of record on Tuesday, September 30th were given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 1.4%. The ex-dividend date was Tuesday, September 30th. Deere & Company’s dividend payout ratio is currently 33.87%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of DE. Mid American Wealth Advisory Group Inc. bought a new stake in shares of Deere & Company during the 2nd quarter valued at approximately $25,000. Howard Hughes Medical Institute acquired a new stake in Deere & Company in the second quarter valued at approximately $27,000. Activest Wealth Management boosted its position in Deere & Company by 2,750.0% in the first quarter. Activest Wealth Management now owns 57 shares of the industrial products company’s stock valued at $27,000 after buying an additional 55 shares in the last quarter. Hughes Financial Services LLC bought a new stake in shares of Deere & Company during the first quarter worth $29,000. Finally, Marshall & Sullivan Inc. WA acquired a new position in shares of Deere & Company during the second quarter worth $38,000. Institutional investors 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.