Barclays began coverage on shares of Deere & Company (NYSE:DE) in a research note released on Tuesday morning. The brokerage issued a buy rating and a $167.00 price target on the industrial products company’s stock.
A number of other brokerages have also recently weighed in on DE. BMO Capital Markets reaffirmed a buy rating and issued a $150.00 price target on shares of Deere & Company in a research report on Thursday, November 2nd. ValuEngine raised Deere & Company from a hold rating to a buy rating in a research report on Friday, September 1st. Robert W. Baird cut Deere & Company from an outperform rating to a neutral rating and cut their price objective for the stock from $140.00 to $130.00 in a research report on Friday, August 18th. BidaskClub cut Deere & Company from a buy rating to a hold rating in a research report on Friday, August 18th. Finally, Wells Fargo & Company reissued a buy rating and set a $170.00 price objective on shares of Deere & Company in a research report on Thursday, November 23rd. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and thirteen have given a buy rating to the company’s stock. Deere & Company presently has an average rating of Hold and an average target price of $143.68.
Shares of Deere & Company (NYSE:DE) traded down $0.26 during trading hours on Tuesday, hitting $151.07. The company’s stock had a trading volume of 1,699,100 shares, compared to its average volume of 2,380,992. Deere & Company has a 12 month low of $100.05 and a 12 month high of $152.68. The firm has a market capitalization of $48,621.86, a PE ratio of 22.79, a P/E/G ratio of 2.32 and a beta of 0.77. The company has a quick ratio of 1.95, a current ratio of 2.12 and a debt-to-equity ratio of 2.71.
Deere & Company (NYSE:DE) last announced its quarterly earnings results on Wednesday, November 22nd. The industrial products company reported $1.57 earnings per share for the quarter, topping analysts’ consensus estimates of $1.47 by $0.10. Deere & Company had a return on equity of 26.31% and a net margin of 7.22%. The company had revenue of $7.09 billion during the quarter, compared to analysts’ expectations of $6.91 billion. During the same quarter in the previous year, the firm earned $0.90 earnings per share. The business’s quarterly revenue was up 25.6% compared to the same quarter last year. equities analysts forecast that Deere & Company will post 7.94 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Friday, December 29th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $2.40 annualized dividend and a yield of 1.59%. Deere & Company’s dividend payout ratio is 36.14%.
In related news, insider John C. May II sold 18,626 shares of the business’s stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $130.76, for a total transaction of $2,435,535.76. Following the transaction, the insider now directly owns 37,462 shares in the company, valued at $4,898,531.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Pentz Markwart Von sold 22,095 shares of the business’s stock in a transaction dated Tuesday, September 19th. The shares were sold at an average price of $120.10, for a total value of $2,653,609.50. Following the transaction, the insider now owns 51,626 shares in the company, valued at $6,200,282.60. The disclosure for this sale can be found here. Insiders have sold 219,486 shares of company stock worth $29,869,619 over the last 90 days. Corporate insiders own 0.75% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Deere & Company by 5.6% in the 2nd quarter. Vanguard Group Inc. now owns 21,593,762 shares of the industrial products company’s stock valued at $2,668,774,000 after purchasing an additional 1,153,484 shares during the period. BlackRock Inc. grew its stake in shares of Deere & Company by 2.5% in the 2nd quarter. BlackRock Inc. now owns 17,125,313 shares of the industrial products company’s stock valued at $2,116,517,000 after purchasing an additional 409,861 shares during the period. Capital International Investors grew its stake in shares of Deere & Company by 35.4% in the 3rd quarter. Capital International Investors now owns 8,807,474 shares of the industrial products company’s stock valued at $1,106,131,000 after purchasing an additional 2,300,531 shares during the period. FMR LLC grew its stake in shares of Deere & Company by 18.3% in the 2nd quarter. FMR LLC now owns 5,032,313 shares of the industrial products company’s stock valued at $621,943,000 after purchasing an additional 777,519 shares during the period. Finally, Bank of New York Mellon Corp grew its position in Deere & Company by 21.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 3,621,764 shares of the industrial products company’s stock worth $454,857,000 after acquiring an additional 634,001 shares during the last quarter. Hedge funds and other institutional investors own 67.75% of the company’s stock.
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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