Deere & Co. (DE) Lifted to “Hold” at Vetr Inc.
Deere & Co. (NYSE:DE) was upgraded by research analysts at Vetr from a “sell” rating to a “hold” rating in a research note issued on Monday. The firm currently has a $80.57 price target on the stock. Vetr‘s price target would indicate a potential downside of 6.75% from the company’s current price.
Other equities analysts have also recently issued research reports about the stock. Morgan Stanley restated a “sell” rating on shares of Deere & Co. in a research report on Saturday, May 14th. Barclays PLC restated an “underweight” rating and set a $63.00 target price on shares of Deere & Co. in a research report on Wednesday, May 25th. Zacks Investment Research upgraded shares of Deere & Co. from a “sell” rating to a “hold” rating in a research report on Tuesday, May 17th. Jefferies Group restated a “hold” rating on shares of Deere & Co. in a research report on Tuesday, May 24th. Finally, Piper Jaffray Cos. cut shares of Deere & Co. from a “neutral” rating to an “underweight” rating and cut their target price for the stock from $77.64 to $67.00 in a research report on Monday, July 25th. Eight analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $82.27.
Deere & Co. (NYSE:DE) traded up 0.07% during trading on Monday, hitting $86.40. 1,800,740 shares of the company were exchanged. The company has a market capitalization of $27.17 billion, a price-to-earnings ratio of 17.31 and a beta of 0.89. Deere & Co. has a 12 month low of $70.16 and a 12 month high of $89.34. The company has a 50-day moving average of $84.29 and a 200-day moving average of $82.14.
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Deere & Co. (NYSE:DE) last announced its earnings results on Friday, August 19th. The company reported $1.55 earnings per share (EPS) 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 business’s revenue was down 14.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.53 EPS. Analysts forecast that Deere & Co. will post $4.30 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Friday, September 30th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $2.40 annualized dividend and a dividend yield of 2.78%. Deere & Co.’s dividend payout ratio (DPR) is presently 48.10%.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Herndon Capital Management LLC increased its position in shares of Deere & Co. by 47.7% in the fourth quarter. Herndon Capital Management LLC now owns 18,244 shares of the company’s stock valued at $1,391,000 after buying an additional 5,893 shares during the period. BHF Kleinwort Benson Group S.A. bought a new stake in Deere & Co. during the fourth quarter valued at about $27,548,000. Ameritas Investment Partners Inc. boosted its stake in Deere & Co. by 4.7% in the fourth quarter. Ameritas Investment Partners Inc. now owns 33,635 shares of the company’s stock valued at $2,564,000 after buying an additional 1,500 shares in the last quarter. Tredje AP fonden boosted its stake in Deere & Co. by 1.1% in the fourth quarter. Tredje AP fonden now owns 20,334 shares of the company’s stock valued at $1,563,000 after buying an additional 214 shares in the last quarter. Finally, Norinchukin Bank The boosted its stake in Deere & Co. by 50.4% in the fourth quarter. Norinchukin Bank The now owns 130,508 shares of the company’s stock valued at $9,954,000 after buying an additional 43,742 shares in the last quarter. Institutional investors and hedge funds own 70.62% of the company’s stock.
About Deere & Co.
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.
To view Vetr’s full report, visit Vetr’s official website.
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