UBS Group downgraded shares of Deere & Company (NYSE:DE) from a buy rating to a neutral rating in a research report sent to investors on Wednesday, Benzinga reports. The firm currently has $167.00 price objective on the industrial products company’s stock, up from their previous price objective of $158.00.
Several other research firms have also issued reports on DE. BMO Capital Markets started coverage on Parkland Fuel in a research note on Monday, May 27th. They issued an outperform rating on the stock. Vertical Research lowered Deere & Company from a buy rating to a hold rating in a research note on Monday, May 20th. Royal Bank of Canada set a €475.00 ($552.33) price objective on Rational and gave the company a sell rating in a research note on Monday, May 20th. Barclays upped their price objective on NetEase from $300.00 to $320.00 and gave the company an overweight rating in a research note on Monday, May 20th. Finally, Berenberg Bank upped their price objective on Hiscox from GBX 1,569 ($20.50) to GBX 1,581 ($20.66) and gave the company a hold rating in a research note on Thursday, May 9th. Two equities 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’s stock. The company presently has an average rating of Hold and an average price target of $167.94.
DE opened at $165.37 on Wednesday. Deere & Company has a 52-week low of $128.32 and a 52-week high of $169.99. The company has a market capitalization of $51.12 billion, a price-to-earnings ratio of 17.61, a PEG ratio of 1.53 and a beta of 1.12. The company has a quick ratio of 1.66, a current ratio of 1.94 and a debt-to-equity ratio of 2.37. The stock’s 50-day moving average is $154.56.
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Friday, June 28th will be given a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 1.84%. The ex-dividend date is Thursday, June 27th. Deere & Company’s payout ratio is 32.37%.
In other news, COO John C. May II sold 16,468 shares of the company’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $163.21, for a total value of $2,687,742.28. Following the transaction, the chief operating officer now owns 60,550 shares of the company’s stock, valued at $9,882,365.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.71% of the stock is currently owned by corporate insiders.
Several institutional investors have recently bought and sold shares of DE. BlackRock Inc. lifted its stake in Deere & Company by 0.4% during the first quarter. BlackRock Inc. now owns 18,523,593 shares of the industrial products company’s stock worth $2,960,812,000 after purchasing an additional 78,890 shares during the last quarter. FMR LLC lifted its stake in Deere & Company by 13.6% during the first quarter. FMR LLC now owns 8,713,051 shares of the industrial products company’s stock worth $1,392,694,000 after purchasing an additional 1,043,039 shares during the last quarter. Norges Bank bought a new stake in Deere & Company during the fourth quarter worth $582,245,000. JPMorgan Chase & Co. lifted its stake in Deere & Company by 67.0% during the first quarter. JPMorgan Chase & Co. now owns 3,733,015 shares of the industrial products company’s stock worth $596,683,000 after purchasing an additional 1,497,433 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in Deere & Company by 7.2% during the fourth quarter. Geode Capital Management LLC now owns 3,655,571 shares of the industrial products company’s stock worth $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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