Deere & Co. (DE) Rating Lowered to Hold at TheStreet
Deere & Co. (NYSE:DE) was downgraded by equities research analysts at TheStreet from a “buy” rating to a “hold” rating in a report issued on Monday.
DE has been the topic of several other reports. Argus lifted their price target on shares of Deere & Co. from $90.00 to $98.00 and gave the stock a “buy” rating in a research note on Tuesday, August 23rd. Jefferies Group decreased their price target on shares of Deere & Co. from $90.00 to $85.00 and set a “hold” rating on the stock in a research note on Thursday, August 25th. Piper Jaffray Cos. reissued an “underweight” rating and set a $70.00 price target on shares of Deere & Co. in a research note on Tuesday, August 30th. Morgan Stanley reissued a “sell” rating on shares of Deere & Co. in a research note on Thursday, June 30th. Finally, Barclays PLC reissued an “underweight” rating and set a $63.00 price target on shares of Deere & Co. in a research note on Monday, August 22nd. Eight investment analysts have rated the stock with a sell rating, nine have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $82.40.
Shares of Deere & Co. (NYSE:DE) traded up 1.18% on Monday, reaching $86.30. 2,922,678 shares of the company traded hands. Deere & Co. has a one year low of $70.16 and a one year high of $88.63. The stock has a market capitalization of $27.13 billion, a P/E ratio of 17.29 and a beta of 0.89. The stock’s 50 day moving average price is $84.40 and its 200-day moving average price is $81.94.
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Deere & Co. (NYSE:DE) last posted its quarterly earnings results on Friday, August 19th. The company reported $1.55 EPS for the quarter, topping the consensus estimate of $0.94 by $0.61. The firm had revenue of $6.72 billion for the quarter. Deere & Co. had a net margin of 5.92% and a return on equity of 22.73%. The company’s revenue was down 14.3% compared to the same quarter last year. During the same period last year, the business posted $1.53 earnings per share. Equities analysts forecast that Deere & Co. will post $4.30 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Friday, September 30th will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date of this dividend is Wednesday, September 28th. Deere & Co.’s dividend payout ratio (DPR) is 48.10%.
Institutional investors have recently modified their holdings of the company. Sun Life Financial INC acquired a new position in shares of Deere & Co. during the first quarter worth $63,594,000. Washington Trust Bank raised its position in shares of Deere & Co. by 59.0% in the second quarter. Washington Trust Bank now owns 1,240 shares of the company’s stock worth $100,000 after buying an additional 460 shares during the period. FineMark National Bank & Trust raised its position in shares of Deere & Co. by 1.8% in the second quarter. FineMark National Bank & Trust now owns 1,451 shares of the company’s stock worth $118,000 after buying an additional 26 shares during the period. Signaturefd LLC raised its position in shares of Deere & Co. by 1.3% in the second quarter. Signaturefd LLC now owns 1,610 shares of the company’s stock worth $130,000 after buying an additional 21 shares during the period. Finally, Meeder Asset Management Inc. acquired a new position in shares of Deere & Co. during the first quarter worth $142,000. 70.62% of the stock is owned by institutional investors and hedge funds.
Deere & Co. Company Profile
Deere & Company is engaged in equipment operations and financial services. The Company operates through three business segments: agriculture and turf, construction and forestry, and financial services. The Company’s agriculture and turf segment primarily manufactures and distributes a full line of agriculture and turf equipment and related service parts.
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