Deere & Co. (NYSE: DE) shares rose on Wednesday Nov 30 with lower trade volume than normal after a number of analysts weighed in on the investing value of the stock and reiterated thier respective ratings.
Meanwhile, the Dow Jones Industrial Average hit an intraday record after opening higher Wednesday, led by the energy sector as hopes rose that the world’s major oil producers are near a deal on limiting output.
The benchmark S&P 500 and Dow were on track to post their largest monthly gains since March.
The S&P 500 SPX, +0.22% gained 5 points, or 0.2%, to 2,209. The Dow Jones Industrial Average DJIA, +0.41% added 62 points, or 0.3%, to 19,184, trading in record territory. The Nasdaq Composite COMP, -0.08% was 7 points, or 0.1%, higher at 5,386.
Analysts at JPMorgan Chase & Co. reiterated an Underweight rating on shares of Deere & Co. (NYSE: DE) in a reserach note to investors, making it one of the more closely watched stocks on Wall Street. The company currently has a rating of Underweight on the stock. The one-year price target of $85.21 is a decrease compared to the opening price of $100.56, causing a number of other analysts to issue statements on the stock in recent days. Looking back over the last year, Deere & Co. stock has a high of $104.83. Usually, after analysts publish a “reiterated rating” report on a stock, they will later issue periodic revisions, such as a price target change.
Deere & Co. (NYSE: DE) shares last traded at $100.84, which represents an increase of $0.49 or 0.49% from the previous closing price. Opening at $100.56, they varied from $100.36 and $100.94 throughout the day.
Deere & Co. (NYSE: DE) currently has a market cap of 31.74B.
Deere & Co. (NYSE: DE) Average Daily Trading Volume
498,097 shares traded hands yesterday, below the average, out of a total float 261,784,000. Look for trading volume to pick up in the coming days as investors often use increases in trading volume to pinpoint substantial volume growth or circulation by institutional investors.
As with all potential breakouts, investors watch for volume to be at least 40%-50% greater than normal on the breakout to show that fund managers and other professional investors are jumping in.
Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Institutional investors such as these retain teams of analysts that research thousands of stocks. So watching their interests is a good way to ensure you are buying the right stocks.
Deere & Co. (NYSE: DE) Moving Averages
A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.
This is because the average acts like a floor (support), so the price bounces up off of it.
In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.
By identifying trends, moving averages allow traders to make those trends work in their favor and increase the number of winning trades.
With that in mind, Deere & Co. (NYSE: DE) now has a 50-day MA of $89.76 and 200-day MA of $84.31. It has traded in a 52-week range between $70.16 – 104.83 and today’s last price is 3.81%% lower than the 52 week high of $104.83.
Indeed, earnings growth is among the most important things to look at in regards to stock investing and, accordingly, investors identify companies that have increased their earnings at least 25% or more over a 3 year period.
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