Deere & Company (DE) Lowered to Hold at Zacks Investment Research

Deere & Company (NYSE:DE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday.

According to Zacks, “Deere is poised to gain from the Wirtgen acquisition. The buyout will aid Deere’s North America-centric construction business and also catapult it to the position of an industry leader in global road construction. The company expects that its disciplined cost management and continued investment in innovative technology and solutions will drive its near term results. Recovery in the dairy and livestock sectors will drive growth in the EU28 region. Further, Deere’s acquisition of Blue River Technology remains a tailwind. The stock has outperformed the industry in the last year. Its estimates have also been revised upward lately. However, Deere will bear the brunt of expected decline in agricultural production in Brazil, elevated expenses as well as geopolitical disruptions around the world.”

Other research analysts also recently issued research reports about the company. Royal Bank of Canada upgraded Deere & Company from a “sector perform” rating to an “outperform” rating and cut their target price for the stock from $190.00 to $155.00 in a research note on Wednesday, January 10th. Wells Fargo & Co restated an “outperform” rating and issued a $200.00 target price (up previously from $170.00) on shares of Deere & Company in a research note on Wednesday, January 10th. Barclays upgraded Deere & Company from a “sector perform” rating to an “outperform” rating and set a $171.00 target price for the company in a research note on Wednesday, January 10th. Vetr upgraded Deere & Company from a “buy” rating to a “strong-buy” rating and set a $177.25 target price for the company in a research note on Monday. Finally, Jefferies Group restated a “hold” rating and issued a $150.00 target price on shares of Deere & Company in a research note on Thursday, November 23rd. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $155.21.

Deere & Company (DE) traded up $4.27 during mid-day trading on Monday, hitting $159.20. The stock had a trading volume of 1,111,459 shares, compared to its average volume of 2,255,177. The company has a debt-to-equity ratio of 2.71, a current ratio of 2.12 and a quick ratio of 1.95. The company has a market cap of $50,082.22, a P/E ratio of 23.97, a price-to-earnings-growth ratio of 2.32 and a beta of 0.75. Deere & Company has a 12 month low of $106.72 and a 12 month high of $171.96.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Wednesday, November 22nd. The industrial products company reported $1.57 earnings per share for the quarter, topping the consensus estimate of $1.47 by $0.10. The company had revenue of $7.09 billion during the quarter, compared to the consensus estimate of $6.91 billion. Deere & Company had a return on equity of 26.31% and a net margin of 7.22%. The firm’s quarterly revenue was up 25.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.90 EPS. analysts predict that Deere & Company will post 8.15 EPS for the current fiscal year.

In related news, insider Cory J. Reed sold 6,416 shares of the firm’s stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $151.54, for a total transaction of $972,280.64. Following the transaction, the insider now directly owns 11,383 shares of the company’s stock, valued at approximately $1,724,979.82. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Rajesh Kalathur sold 4,519 shares of the firm’s stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $148.92, for a total value of $672,969.48. Following the transaction, the chief financial officer now directly owns 36,288 shares in the company, valued at $5,404,008.96. The disclosure for this sale can be found here. In the last ninety days, insiders sold 187,603 shares of company stock worth $28,058,143. Insiders own 0.74% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in DE. OxFORD Asset Management LLP purchased a new position in shares of Deere & Company during the 2nd quarter valued at about $781,000. AHL Partners LLP increased its stake in Deere & Company by 80.0% in the 2nd quarter. AHL Partners LLP now owns 9,708 shares of the industrial products company’s stock worth $1,200,000 after purchasing an additional 4,316 shares during the period. Castleark Management LLC increased its stake in Deere & Company by 15.1% in the 2nd quarter. Castleark Management LLC now owns 156,099 shares of the industrial products company’s stock worth $19,292,000 after purchasing an additional 20,428 shares during the period. Ameritas Investment Partners Inc. increased its stake in Deere & Company by 4.4% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 24,685 shares of the industrial products company’s stock worth $3,050,000 after purchasing an additional 1,046 shares during the period. Finally, BB&T Investment Services Inc. purchased a new position in Deere & Company in the 2nd quarter worth approximately $756,000. 66.84% of the stock is currently owned by institutional investors.

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Deere & Company Company Profile

Deere & Company is engaged in equipment operations. The Company is engaged in providing financial services. The Company operates through three business segments: agriculture and turf, construction and forestry, and financial services. The agriculture and turf segment manufactures and distributes a line of agriculture and turf equipment and related service parts.

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