Deere & Co. (DE) Receives Consensus Rating of “Hold” from Analysts
Shares of Deere & Co. (NYSE:DE) have earned a consensus rating of “Hold” from the twenty-five ratings firms that are covering the stock. Eight analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation, eight have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $82.67.
DE has been the subject of a number of research analyst reports. Piper Jaffray Cos. upped their price target on shares of Deere & Co. from $67.00 to $70.00 and gave the stock an “underweight” rating in a research note on Monday, August 22nd. Vetr downgraded shares of Deere & Co. from a “hold” rating to a “sell” rating and set a $77.39 target price on the stock. in a report on Monday, July 11th. Argus boosted their target price on shares of Deere & Co. from $90.00 to $98.00 and gave the stock a “buy” rating in a report on Tuesday, August 23rd. Morgan Stanley reiterated a “sell” rating on shares of Deere & Co. in a report on Thursday, June 30th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $96.00 target price on shares of Deere & Co. in a report on Thursday, August 18th.
Hedge funds have recently bought and sold shares of the company. Rehmann Capital Advisory Group increased its stake in shares of Deere & Co. by 0.3% in the second quarter. Rehmann Capital Advisory Group now owns 2,693 shares of the company’s stock worth $218,000 after buying an additional 8 shares during the period. Signaturefd LLC increased its stake 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. FineMark National Bank & Trust increased its stake 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. Pacific Global Investment Management CO increased its stake in shares of Deere & Co. by 0.3% in the second quarter. Pacific Global Investment Management CO now owns 9,468 shares of the company’s stock worth $767,000 after buying an additional 31 shares during the period. Finally, Wedbush Securities Inc. increased its stake in shares of Deere & Co. by 1.2% in the second quarter. Wedbush Securities Inc. now owns 2,791 shares of the company’s stock worth $226,000 after buying an additional 34 shares during the period. 70.62% of the stock is owned by institutional investors and hedge funds.
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Shares of Deere & Co. (NYSE:DE) traded up 0.17% during trading on Wednesday, hitting $87.20. 993,495 shares of the company’s stock were exchanged. The firm has a market capitalization of $27.42 billion, a PE ratio of 17.47 and a beta of 0.89. Deere & Co. has a 1-year low of $70.16 and a 1-year high of $89.34. The stock’s 50 day moving average is $84.38 and its 200 day moving average is $82.03.
Deere & Co. (NYSE:DE) last issued its quarterly earnings results on Friday, August 19th. The company reported $1.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.94 by $0.61. The company earned $6.72 billion during 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% on a year-over-year basis. During the same period in the prior year, the company posted $1.53 earnings per share. On average, equities research analysts forecast that Deere & Co. will post $4.30 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Friday, September 30th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 2.76%. The ex-dividend date of this dividend is Wednesday, September 28th. Deere & Co.’s dividend payout ratio is currently 48.10%.
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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