Deere & Company (NYSE:DE) Stock Rating Lowered by UBS Group

UBS Group cut shares of Deere & Company (NYSE:DE) from a buy rating to a neutral rating in a research report report published on Wednesday morning, Benzinga reports. The firm currently has $167.00 price objective on the industrial products company’s stock, up from their prior price objective of $158.00.

Several other analysts have also recently issued reports on DE. Morgan Stanley reaffirmed a hold rating on shares of PG&E in a report on Friday, June 21st. Royal Bank of Canada set a €475.00 ($552.33) price target on shares of Rational and gave the company a sell rating in a report on Monday, May 20th. Jefferies Financial Group raised shares of AGCO from a hold rating to a buy rating and upped their price target for the company from $70.00 to $90.00 in a report on Monday, June 24th. BMO Capital Markets initiated coverage on shares of Parkland Fuel in a report on Monday, May 27th. They issued an outperform rating on the stock. Finally, Credit Suisse Group initiated coverage on shares of Regeneron Pharmaceuticals in a report on Monday, May 20th. They issued a neutral rating and a $336.00 price target on the stock. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and thirteen have given a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $167.94.

Shares of DE stock traded up $0.45 on Wednesday, hitting $161.26. The stock had a trading volume of 2,002,200 shares, compared to its average volume of 2,067,747. The stock has a market capitalization of $51.78 billion, a price-to-earnings ratio of 17.17, a price-to-earnings-growth ratio of 1.55 and a beta of 1.12. The business has a 50 day simple moving average of $154.01. The company has a debt-to-equity ratio of 2.37, a current ratio of 1.94 and a quick ratio of 1.66. Deere & Company has a 52-week low of $128.32 and a 52-week high of $169.99.



Deere & Company (NYSE:DE) last announced its earnings results on Friday, May 17th. The industrial products company reported $3.52 earnings per share for the quarter, missing the consensus estimate of $3.57 by ($0.05). The firm had revenue of $10.27 billion during the quarter, compared to analysts’ expectations of $10.19 billion. Deere & Company had a net margin of 8.52% and a return on equity of 28.76%. Deere & Company’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter last year, the company posted $3.14 earnings per share. Sell-side analysts expect that Deere & Company will post 10.25 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Friday, June 28th will be issued a dividend of $0.76 per share. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 1.89%. Deere & Company’s dividend payout ratio (DPR) is 32.37%.

In other Deere & Company news, COO John C. May II sold 16,468 shares of the stock in a transaction on Friday, June 21st. The shares were sold at an average price of $163.21, for a total transaction of $2,687,742.28. Following the sale, the chief operating officer now directly owns 60,550 shares of the company’s stock, valued at $9,882,365.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.71% of the stock is currently owned by corporate insiders.

Several large investors have recently modified their holdings of the business. Dimensional Fund Advisors LP boosted its stake in Deere & Company by 4.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,123,218 shares of the industrial products company’s stock valued at $167,531,000 after purchasing an additional 49,932 shares during the last quarter. Flinton Capital Management LLC boosted its stake in Deere & Company by 9.8% during the 4th quarter. Flinton Capital Management LLC now owns 5,184 shares of the industrial products company’s stock valued at $773,000 after purchasing an additional 464 shares during the last quarter. Berman Capital Advisors LLC purchased a new stake in Deere & Company during the 4th quarter valued at $44,000. Stifel Financial Corp boosted its stake in Deere & Company by 5.0% during the 4th quarter. Stifel Financial Corp now owns 184,326 shares of the industrial products company’s stock valued at $27,481,000 after purchasing an additional 8,828 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Deere & Company by 7.2% during the 4th quarter. Geode Capital Management LLC now owns 3,655,571 shares of the industrial products company’s stock valued at $544,229,000 after purchasing an additional 244,266 shares during the last quarter. 68.04% of the stock is currently owned by 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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Analyst Recommendations for Deere & Company (NYSE:DE)

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