Deere & Co. (DE) Lifted to Buy at Clarkson Capital
Deere & Co. (NYSE:DE) was upgraded by equities researchers at Clarkson Capital from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Tuesday.
DE has been the topic of several other reports. Wells Fargo & Co. upgraded shares of Deere & Co. from a “market perform” rating to an “outperform” rating in a report on Monday, October 10th. Barclays PLC boosted their price objective on shares of Deere & Co. from $63.00 to $68.00 and gave the company an “underweight” rating in a report on Wednesday, October 12th. Argus boosted their price objective on shares of Deere & Co. from $90.00 to $98.00 and gave the company a “buy” rating in a report on Tuesday, August 23rd. Jefferies Group cut 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. Finally, Piper Jaffray Cos. reiterated an “underweight” rating and set a $70.00 price target on shares of Deere & Co. in a research note on Tuesday, August 30th. Eight investment analysts have rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $82.27.
Deere & Co. (NYSE:DE) traded up 0.08% during mid-day trading on Tuesday, hitting $86.54. 532,920 shares of the stock were exchanged. 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 $84.28 and a 200 day moving average of $82.24. The firm has a market cap of $27.21 billion, a P/E ratio of 17.34 and a beta of 0.89.
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Deere & Co. (NYSE:DE) last issued its quarterly earnings data on Friday, August 19th. The company reported $1.55 earnings per share (EPS) for the quarter, beating 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 firm’s quarterly revenue was down 14.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.53 earnings per share. On average, equities analysts anticipate that Deere & Co. will post $4.30 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Friday, September 30th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date is Wednesday, September 28th. Deere & Co.’s dividend payout ratio is currently 48.10%.
Large investors have recently modified their holdings of the stock. Natixis boosted its stake in Deere & Co. by 117.0% in the first quarter. Natixis now owns 452,167 shares of the company’s stock valued at $34,813,000 after buying an additional 243,784 shares during the period. Robecosam AG boosted its stake in Deere & Co. by 0.5% in the first quarter. Robecosam AG now owns 73,470 shares of the company’s stock valued at $5,886,000 after buying an additional 390 shares during the period. Bessemer Group Inc. boosted its stake in Deere & Co. by 4.9% in the first quarter. Bessemer Group Inc. now owns 8,100 shares of the company’s stock valued at $623,000 after buying an additional 381 shares during the period. Legal & General Group Plc boosted its stake in Deere & Co. by 0.3% in the first quarter. Legal & General Group Plc now owns 1,436,384 shares of the company’s stock valued at $110,619,000 after buying an additional 3,974 shares during the period. Finally, Squarepoint Ops LLC boosted its stake in Deere & Co. by 427.8% in the first quarter. Squarepoint Ops LLC now owns 91,982 shares of the company’s stock valued at $7,082,000 after buying an additional 74,553 shares during the period. Institutional investors own 70.55% 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.
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