Deere & Company (DE) Stock Rating Reaffirmed by BMO Capital Markets
Deere & Company (NYSE:DE)‘s stock had its “buy” rating reaffirmed by equities research analysts at BMO Capital Markets in a research note issued to investors on Thursday. They presently have a $128.00 price target on the industrial products company’s stock. BMO Capital Markets’ target price indicates a potential upside of 18.28% from the company’s previous close.
Other equities analysts have also recently issued reports about the company. TheStreet cut Deere & Company from a “b” rating to a “c+” rating in a research report on Wednesday, February 22nd. Royal Bank of Canada reiterated a “hold” rating and set a $109.00 price target on shares of Deere & Company in a research report on Thursday, March 23rd. Barclays PLC reiterated a “sell” rating and set a $82.00 price target (up from $80.00) on shares of Deere & Company in a research report on Tuesday. Vetr upgraded Deere & Company from a “sell” rating to a “hold” rating and set a $106.68 price target on the stock in a research report on Thursday, February 16th. Finally, Berenberg Bank began coverage on Deere & Company in a research report on Tuesday, January 24th. They set a “sell” rating and a $90.00 price target on the stock. Four research analysts have rated the stock with a sell rating, ten have given a hold rating and thirteen have issued a buy rating to the stock. Deere & Company has a consensus rating of “Hold” and a consensus target price of $102.96.
Deere & Company (NYSE:DE) opened at 108.22 on Thursday. The firm has a market cap of $34.44 billion, a price-to-earnings ratio of 23.44 and a beta of 0.73. The stock has a 50 day moving average price of $109.57 and a 200-day moving average price of $101.84. Deere & Company has a 12-month low of $76.73 and a 12-month high of $112.18.
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Deere & Company (NYSE:DE) last issued its quarterly earnings results on Friday, February 17th. The industrial products company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.11. Deere & Company had a return on equity of 21.97% and a net margin of 5.72%. The company had revenue of $4.70 billion for the quarter, compared to analysts’ expectations of $4.59 billion. During the same period last year, the firm earned $0.80 EPS. The firm’s revenue for the quarter was down 1.5% on a year-over-year basis. Equities analysts forecast that Deere & Company will post $4.80 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 1st. Investors of record on Friday, March 31st will be given a dividend of $0.60 per share. The ex-dividend date is Wednesday, March 29th. This represents a $2.40 dividend on an annualized basis and a yield of 2.22%. Deere & Company’s payout ratio is 49.90%.
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In other Deere & Company news, insider Cory J. Reed sold 3,665 shares of the firm’s stock in a transaction dated Tuesday, February 28th. The stock was sold at an average price of $110.00, for a total transaction of $403,150.00. Following the transaction, the insider now directly owns 8,632 shares in the company, valued at $949,520. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Samuel R. Allen sold 28,808 shares of the firm’s stock in a transaction dated Wednesday, February 22nd. The shares were sold at an average price of $109.40, for a total value of $3,151,595.20. Following the transaction, the chief executive officer now owns 299,596 shares in the company, valued at $32,775,802.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,302 shares of company stock valued at $3,753,704. Insiders own 0.75% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Crow Point Partners raised its position in Deere & Company by 27.3% in the third quarter. Crow Point Partners now owns 420 shares of the industrial products company’s stock valued at $31,000 after buying an additional 90 shares during the period. Sun Life Financial INC bought a new position in Deere & Company during the first quarter valued at $63,594,000. First Command Bank bought a new position in Deere & Company during the fourth quarter valued at $100,000. Ledyard National Bank raised its position in Deere & Company by 5.0% in the first quarter. Ledyard National Bank now owns 1,050 shares of the industrial products company’s stock valued at $114,000 after buying an additional 50 shares during the period. Finally, Hartford Financial Management Inc. raised its position in Deere & Company by 5.2% in the third quarter. Hartford Financial Management Inc. now owns 1,210 shares of the industrial products company’s stock valued at $103,000 after buying an additional 60 shares during the period. Institutional investors own 71.09% of the company’s stock.
Deere & Company Company Profile
Deere & Company is engaged in equipment operations. The Company is engaged in providing financial services. The Company operates through three business segments: agriculture and turf, construction and forestry, and financial services. The agriculture and turf segment manufactures and distributes a line of agriculture and turf equipment and related service parts.
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