UBS Group Cuts Deere & Company (NYSE:DE) Price Target to $440.00

Deere & Company (NYSE:DE) had its target price lowered by UBS Group from $462.00 to $440.00 in a research note issued to investors on Monday morning,Benzinga reports. UBS Group currently has a neutral rating on the industrial products company’s stock.

Several other equities research analysts also recently weighed in on the company. JPMorgan Chase & Co. increased their price objective on Deere & Company from $470.00 to $500.00 and gave the company a “neutral” rating in a report on Monday, February 10th. StockNews.com cut shares of Deere & Company from a “hold” rating to a “sell” rating in a research note on Sunday. Truist Financial reissued a “buy” rating and set a $546.00 price objective (down from $550.00) on shares of Deere & Company in a research report on Friday, February 14th. Argus set a $510.00 target price on shares of Deere & Company in a report on Friday, March 7th. Finally, Oppenheimer raised their price target on Deere & Company from $477.00 to $507.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $458.84.

Deere & Company Price Performance

Shares of DE opened at $422.15 on Monday. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.22 and a quick ratio of 1.98. Deere & Company has a 1-year low of $340.20 and a 1-year high of $515.05. The stock has a market cap of $114.58 billion, a PE ratio of 18.71, a price-to-earnings-growth ratio of 2.14 and a beta of 1.00. The firm has a fifty day moving average price of $475.31 and a 200 day moving average price of $442.47.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share for the quarter, beating the consensus estimate of $3.14 by $0.05. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. As a group, sell-side analysts anticipate that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 8th. Shareholders of record on Monday, March 31st will be issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date of this dividend is Monday, March 31st. Deere & Company’s dividend payout ratio (DPR) is currently 28.72%.

Insiders Place Their Bets

In other Deere & Company news, insider Rajesh Kalathur sold 24,580 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $500.61, for a total value of $12,304,993.80. Following the completion of the transaction, the insider now directly owns 74,878 shares of the company’s stock, valued at approximately $37,484,675.58. This trade represents a 24.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.29% of the company’s stock.

Hedge Funds Weigh In On Deere & Company

Several hedge funds have recently bought and sold shares of DE. Pineridge Advisors LLC grew its holdings in Deere & Company by 60.5% in the fourth quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 26 shares during the last quarter. Modus Advisors LLC purchased a new stake in shares of Deere & Company in the 4th quarter worth about $32,000. YANKCOM Partnership acquired a new stake in Deere & Company in the 4th quarter valued at about $34,000. Orion Capital Management LLC acquired a new stake in Deere & Company in the 4th quarter valued at about $34,000. Finally, Synergy Asset Management LLC purchased a new position in Deere & Company during the 4th quarter valued at about $35,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Company Profile

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.