Shares of Deere & Company (NYSE:DE) have been given a consensus rating of “Hold” by the thirty ratings firms that are covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, thirteen have issued a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $122.24.
A number of brokerages recently commented on DE. BMO Capital Markets restated a “buy” rating and set a $128.00 price target on shares of Deere & in a research note on Thursday, April 20th. TheStreet upgraded shares of Deere & from a “c+” rating to an “a-” rating in a research note on Friday, May 19th. Citigroup Inc. upped their price target on shares of Deere & from $125.00 to $145.00 and gave the company a “buy” rating in a research note on Tuesday, May 23rd. Wells Fargo & Company restated an “outperform” rating and set a $140.00 price target (up from $125.00) on shares of Deere & in a research note on Tuesday, May 23rd. Finally, J P Morgan Chase & Co upgraded shares of Deere & from an “underweight” rating to a “neutral” rating and increased their target price for the stock from $103.00 to $122.00 in a research note on Friday, June 2nd.
In related news, insider Max A. Guinn sold 5,000 shares of Deere & stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $130.89, for a total transaction of $654,450.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Cory J. Reed sold 5,840 shares of Deere & stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $119.59, for a total transaction of $698,405.60. Following the transaction, the insider now directly owns 10,807 shares of the company’s stock, valued at $1,292,409.13. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 130,988 shares of company stock valued at $16,451,037. Corporate insiders own 0.85% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Louisiana State Employees Retirement System boosted its position in shares of Deere & by 1.7% in the second quarter. Louisiana State Employees Retirement System now owns 18,300 shares of the industrial products company’s stock valued at $2,262,000 after buying an additional 300 shares during the period. PGGM Investments purchased a new position in shares of Deere & during the first quarter valued at about $26,179,000. Dai Ichi Life Insurance Company Ltd boosted its position in shares of Deere & by 42.1% in the first quarter. Dai Ichi Life Insurance Company Ltd now owns 21,438 shares of the industrial products company’s stock valued at $2,334,000 after buying an additional 6,353 shares during the period. Ngam Advisors L.P. boosted its position in shares of Deere & by 20.8% in the first quarter. Ngam Advisors L.P. now owns 427,136 shares of the industrial products company’s stock valued at $46,498,000 after buying an additional 73,484 shares during the period. Finally, Nordea Investment Management AB boosted its position in shares of Deere & by 1.1% in the first quarter. Nordea Investment Management AB now owns 124,936 shares of the industrial products company’s stock valued at $13,601,000 after buying an additional 1,342 shares during the period. 67.35% of the stock is owned by institutional investors.
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Shares of Deere & (NYSE DE) traded down 0.62% during trading on Friday, hitting $126.99. The stock had a trading volume of 1,543,170 shares. The company has a market capitalization of $40.62 billion, a P/E ratio of 22.86 and a beta of 0.67. Deere & has a 1-year low of $76.73 and a 1-year high of $132.50. The firm has a 50-day moving average of $126.59 and a 200 day moving average of $116.50.
Deere & (NYSE:DE) last released its earnings results on Friday, May 19th. The industrial products company reported $2.49 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.70 by $0.79. Deere & had a net margin of 6.52% and a return on equity of 24.85%. The firm had revenue of $7.26 billion during the quarter, compared to the consensus estimate of $7.27 billion. During the same period in the prior year, the firm earned $1.56 EPS. The company’s revenue was up 2.2% compared to the same quarter last year. Equities research analysts predict that Deere & will post $6.37 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Stockholders of record on Friday, June 30th were given a $0.60 dividend. The ex-dividend date was Wednesday, June 28th. This represents a $2.40 annualized dividend and a dividend yield of 1.88%. Deere &’s dividend payout ratio is 43.24%.
Deere & 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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