Deere & Company (NYSE:DE)‘s stock had its “hold” rating reaffirmed by analysts at Jefferies Group LLC in a research report issued on Thursday. They currently have a $125.00 target price on the industrial products company’s stock. Jefferies Group LLC’s price objective would indicate a potential downside of 1.30% from the company’s current price.
Several other equities research analysts have also recently weighed in on DE. Credit Suisse Group set a $132.00 price objective on Deere & Company and gave the stock a “buy” rating in a report on Saturday, May 20th. Barclays PLC set a $100.00 price objective on Deere & Company and gave the stock a “sell” rating in a report on Sunday, June 4th. Citigroup Inc. increased their price objective on Deere & Company from $145.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, June 9th. BidaskClub cut Deere & Company from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 22nd. Finally, Berenberg Bank dropped their price objective on Deere & Company from $100.00 to $90.00 and set a “sell” rating for the company in a report on Wednesday, June 28th. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eleven have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $122.25.
Deere & Company (NYSE:DE) opened at 126.64 on Thursday. The firm has a market capitalization of $40.51 billion, a price-to-earnings ratio of 22.80 and a beta of 0.66. The company has a 50 day moving average price of $122.43 and a 200-day moving average price of $111.76. Deere & Company has a 1-year low of $76.73 and a 1-year high of $128.37.
Deere & Company (NYSE:DE) last released its quarterly earnings data on Friday, May 19th. The industrial products company reported $2.49 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.79. Deere & Company had a return on equity of 24.85% and a net margin of 6.52%. The business had revenue of $7.26 billion during the quarter, compared to analysts’ expectations of $7.27 billion. During the same quarter last year, the business posted $1.56 EPS. The business’s revenue was up 2.2% on a year-over-year basis. On average, analysts forecast that Deere & Company will post $6.29 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 1st. Investors of record on Friday, June 30th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date is Wednesday, June 28th. Deere & Company’s dividend payout ratio (DPR) is presently 43.24%.
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In related news, VP Marc A. Howze sold 6,624 shares of the firm’s stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $119.59, for a total transaction of $792,164.16. Following the completion of the transaction, the vice president now owns 9,004 shares of the company’s stock, valued at approximately $1,076,788.36. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Cory J. Reed sold 5,601 shares of the firm’s stock in a transaction that occurred on Thursday, May 25th. The shares were sold at an average price of $123.00, for a total value of $688,923.00. Following the transaction, the insider now directly owns 10,568 shares of the company’s stock, valued at approximately $1,299,864. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 105,612 shares of company stock valued at $13,149,023. 0.85% of the stock is owned by corporate insiders.
Several hedge funds have recently bought and sold shares of DE. Ledyard National Bank raised its stake in Deere & Company by 5.0% in the first quarter. Ledyard National Bank now owns 1,050 shares of the industrial products company’s stock worth $114,000 after buying an additional 50 shares during the last quarter. Guardian Life Insurance Co. of America raised its stake in Deere & Company by 1.4% in the first quarter. Guardian Life Insurance Co. of America now owns 1,132 shares of the industrial products company’s stock worth $123,000 after buying an additional 16 shares during the last quarter. MCF Advisors LLC raised its stake in Deere & Company by 26.2% in the first quarter. MCF Advisors LLC now owns 1,160 shares of the industrial products company’s stock worth $126,000 after buying an additional 241 shares during the last quarter. Sowell Financial Services LLC acquired a new stake in Deere & Company during the fourth quarter worth approximately $142,000. Finally, Advantage Investment Management LLC acquired a new stake in Deere & Company during the fourth quarter worth approximately $143,000. 67.37% of the stock is owned by institutional investors and hedge funds.
Deere & Company 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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