Deere & Co. (DE) Rating Increased to Buy at Clarkson Capital
Deere & Co. (NYSE:DE) was upgraded by research analysts at Clarkson Capital from a “neutral” rating to a “buy” rating in a report issued on Tuesday.
Other equities analysts have also issued reports about the company. Piper Jaffray Cos. boosted their price target on Deere & Co. from $67.00 to $70.00 and gave the stock an “underweight” rating in a research report on Monday, August 22nd. Vetr lowered Deere & Co. from a “hold” rating to a “sell” rating and set a $77.39 price target on the stock. in a research report on Monday, July 11th. Argus boosted their price target on Deere & Co. from $90.00 to $98.00 and gave the stock a “buy” rating in a research report on Tuesday, August 23rd. Morgan Stanley reissued a “sell” rating on shares of Deere & Co. in a research report on Thursday, June 30th. Finally, BMO Capital Markets reissued an “outperform” rating and set a $96.00 price target on shares of Deere & Co. in a research report on Thursday, August 18th. Eight analysts have rated the stock with a sell rating, eight have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Deere & Co. has an average rating of “Hold” and a consensus price target of $82.27.
Shares of Deere & Co. (NYSE:DE) traded up 0.10% during trading on Tuesday, hitting $86.56. 535,703 shares of the stock were exchanged. Deere & Co. has a one year low of $70.16 and a one year high of $89.34. The stock’s 50 day moving average price is $84.28 and its 200 day moving average price is $82.24. The stock has a market cap of $27.22 billion, a PE ratio of 17.35 and a beta of 0.89.
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Deere & Co. (NYSE:DE) last released its quarterly earnings data on Friday, August 19th. The company reported $1.55 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.61. The business had revenue of $6.72 billion for the quarter. Deere & Co. had a return on equity of 22.73% and a net margin of 5.92%. The business’s revenue for the quarter was down 14.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.53 earnings per share. Equities research analysts predict that Deere & Co. will post $4.30 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Friday, September 30th will be issued a $0.60 dividend. The ex-dividend date 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 48.10%.
Several hedge funds have recently made changes to their positions in the stock. FMR LLC raised its stake in shares of Deere & Co. by 37.2% in the second quarter. FMR LLC now owns 9,139,259 shares of the company’s stock valued at $740,647,000 after buying an additional 2,477,175 shares during the period. Primecap Management Co. CA raised its stake in shares of Deere & Co. by 19.3% in the first quarter. Primecap Management Co. CA now owns 5,286,519 shares of the company’s stock valued at $407,009,000 after buying an additional 856,000 shares during the period. Mackenzie Financial Corp raised its stake in shares of Deere & Co. by 5,429.8% in the second quarter. Mackenzie Financial Corp now owns 764,161 shares of the company’s stock valued at $61,928,000 after buying an additional 750,342 shares during the period. Melvin Capital Management LP purchased a new stake in shares of Deere & Co. during the second quarter valued at $56,728,000. Finally, Loomis Sayles & Co. L P raised its stake in shares of Deere & Co. by 101.1% in the second quarter. Loomis Sayles & Co. L P now owns 5,519 shares of the company’s stock valued at $447,000 after buying an additional 507,428 shares during the period. Institutional investors and hedge funds 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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