On Tuesday, analysts at UBS downgraded Deere & Company (DE) due to the expected decrease of corn prices.
The analysts note that there is a close correlation between Deere shares and corn prices. If the prices do decline sharply, as is expected, it will drive significant underperformance for Deere. As such, the analysts downgraded DE to “Neutral.”
Deere shares were down 55 cents, or -0.60%, during Tuesday morning trading. The stock is up +9.52% over the past year.
The Bottom Line
Shares of Deere (DE) have a dividend yield of 2.22% based on last night’s closing price of $91.82 and the company’s annualized dividend payout of $2.04 per share.
Deere & Company (DE) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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