Deutsche Bank Lowers Deere & Company (NYSE:DE) Price Target to $155.00

Deere & Company (NYSE:DE) had its target price decreased by Deutsche Bank from $163.00 to $155.00 in a research report report published on Wednesday, BenzingaRatingsTable reports. Deutsche Bank currently has a hold rating on the industrial products company’s stock.

A number of other equities analysts have also issued reports on the stock. Citigroup restated a buy rating and set a $170.00 target price (down from $180.00) on shares of Deere & Company in a research report on Thursday, May 16th. JPMorgan Chase & Co. lowered shares of Deere & Company from a neutral rating to an underweight rating and lowered their target price for the stock from $154.00 to $132.00 in a research report on Tuesday, May 14th. Credit Suisse Group lowered their target price on shares of Deere & Company from $209.00 to $176.00 and set an outperform rating on the stock in a research report on Monday, May 20th. Jefferies Financial Group upgraded shares of Deere & Company from a hold rating to a buy rating and raised their target price for the stock from $150.00 to $190.00 in a research report on Monday, June 24th. Finally, Robert W. Baird lowered their target price on shares of Deere & Company from $170.00 to $150.00 and set a positive rating on the stock in a research report on Tuesday, August 13th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and thirteen have given a buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $167.21.

Shares of Deere & Company stock opened at $149.23 on Wednesday. The firm has a market capitalization of $45.56 billion, a P/E ratio of 14.44, a P/E/G ratio of 1.78 and a beta of 1.10. Deere & Company has a 52 week low of $128.32 and a 52 week high of $171.22. 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 firm’s 50 day moving average is $161.38 and its two-hundred day moving average is $158.55.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Friday, August 16th. The industrial products company reported $2.71 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.80 by ($0.09). The company had revenue of $8.97 billion during the quarter, compared to analysts’ expectations of $9.38 billion. Deere & Company had a net margin of 8.52% and a return on equity of 28.76%. The business’s revenue for the quarter was down 3.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.59 earnings per share. As a group, research analysts expect that Deere & Company will post 10.17 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Friday, June 28th were issued a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 2.04%. The ex-dividend date of this dividend was Thursday, June 27th. Deere & Company’s dividend payout ratio is presently 32.37%.

In related news, COO John C. May II sold 16,468 shares of the stock in a transaction on Friday, June 21st. The stock was sold at an average price of $163.21, for a total transaction of $2,687,742.28. Following the completion of 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 SEC, which is available through the SEC website. Also, COO John C. May II sold 5,228 shares of the stock in a transaction on Friday, July 26th. The stock was sold at an average price of $170.00, for a total value of $888,760.00. Following the sale, the chief operating officer now directly owns 49,310 shares of the company’s stock, valued at $8,382,700. The disclosure for this sale can be found here. 0.71% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Fort Washington Investment Advisors Inc. OH lifted its holdings in Deere & Company by 9.1% in the first quarter. Fort Washington Investment Advisors Inc. OH now owns 448,092 shares of the industrial products company’s stock valued at $71,623,000 after acquiring an additional 37,357 shares during the period. Rehmann Capital Advisory Group raised its stake in shares of Deere & Company by 11.3% during the 1st quarter. Rehmann Capital Advisory Group now owns 1,223 shares of the industrial products company’s stock worth $195,000 after buying an additional 124 shares during the last quarter. Chemical Bank raised its stake in shares of Deere & Company by 1.0% during the 1st quarter. Chemical Bank now owns 10,460 shares of the industrial products company’s stock worth $1,672,000 after buying an additional 100 shares during the last quarter. Nordea Investment Management AB raised its stake in shares of Deere & Company by 24.6% during the 1st quarter. Nordea Investment Management AB now owns 66,866 shares of the industrial products company’s stock worth $10,690,000 after buying an additional 13,201 shares during the last quarter. Finally, BlackRock Inc. raised its stake in shares of Deere & Company by 0.4% during the 1st quarter. BlackRock Inc. now owns 18,523,593 shares of the industrial products company’s stock worth $2,960,812,000 after buying an additional 78,890 shares during the last quarter. 67.85% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Company Profile

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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