Deere & Company (DE) Upgraded at Goldman Sachs Group, Inc. (The)
Deere & Company (NYSE:DE) was upgraded by stock analysts at Goldman Sachs Group, Inc. (The) from a “buy” rating to a “conviction-buy” rating in a note issued to investors on Monday. The firm currently has a $129.75 price objective on the industrial products company’s stock. Goldman Sachs Group, Inc. (The)’s price objective indicates a potential downside of 2.01% from the stock’s current price.
Several other research analysts also recently weighed in on the stock. Deutsche Bank AG upped their price objective on shares of Deere & from $122.00 to $135.00 and gave the stock a “hold” rating in a report on Monday, May 22nd. Credit Suisse Group set a $132.00 price objective on shares of Deere & and gave the stock a “buy” rating in a report on Wednesday, April 12th. Barclays PLC restated a “sell” rating and set a $82.00 price objective (up previously from $80.00) on shares of Deere & in a report on Tuesday, April 18th. J P Morgan Chase & Co upgraded shares of Deere & to an “underweight” rating and upped their price objective for the stock from $90.00 to $94.00 in a report on Monday, May 1st. Finally, BidaskClub downgraded shares of Deere & from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 22nd. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and thirteen have given a buy rating to the stock. Deere & currently has an average rating of “Hold” and an average target price of $122.60.
Shares of Deere & (DE) traded up 0.30% during midday trading on Monday, hitting $132.41. 1,393,965 shares of the company were exchanged. The firm has a market capitalization of $42.35 billion, a price-to-earnings ratio of 23.84 and a beta of 0.67. The firm’s 50 day moving average price is $126.12 and its 200 day moving average price is $115.78. Deere & has a one year low of $76.73 and a one year high of $132.50. Deere & also was the target of unusually large options trading activity on Monday. Stock investors purchased 731 call options on the stock. This is an increase of 255% compared to the typical daily volume of 206 call options.
Deere & (NYSE:DE) last issued its earnings results on Friday, May 19th. The industrial products company reported $2.49 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.70 by $0.79. The business had revenue of $7.26 billion for the quarter, compared to analyst estimates of $7.27 billion. Deere & had a net margin of 6.52% and a return on equity of 24.85%. Deere &’s revenue was up 2.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.56 earnings per share. Analysts forecast that Deere & will post $6.37 EPS for the current fiscal year.
In related news, insider Max A. Guinn sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $130.89, for a total transaction of $654,450.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Samuel R. Allen sold 62,704 shares of the firm’s stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $125.00, for a total transaction of $7,838,000.00. Following the sale, the chief executive officer now owns 333,492 shares of the company’s stock, valued at approximately $41,686,500. The disclosure for this sale can be found here. Insiders have sold 130,988 shares of company stock valued at $16,451,037 in the last 90 days. 0.75% of the stock is currently owned by corporate insiders.
Hedge funds have recently bought and sold shares of the company. Ledyard National Bank raised its position in shares of Deere & by 5.0% in the first quarter. Ledyard National Bank now owns 1,050 shares of the industrial products company’s stock worth $114,000 after buying an additional 50 shares in the last quarter. QCI Asset Management Inc. NY raised its position in shares of Deere & by 18.8% in the second quarter. QCI Asset Management Inc. NY now owns 950 shares of the industrial products company’s stock worth $117,000 after buying an additional 150 shares in the last quarter. Guardian Life Insurance Co. of America raised its position in shares of Deere & by 1.4% in the first quarter. Guardian Life Insurance Co. of America now owns 1,132 shares of the industrial products company’s stock worth $123,000 after buying an additional 16 shares in the last quarter. Arrow Financial Corp raised its position in shares of Deere & by 5.2% in the second quarter. Arrow Financial Corp now owns 1,010 shares of the industrial products company’s stock worth $125,000 after buying an additional 50 shares in the last quarter. Finally, MCF Advisors LLC raised its position in shares of Deere & by 26.2% in the first quarter. MCF Advisors LLC now owns 1,160 shares of the industrial products company’s stock worth $126,000 after buying an additional 241 shares in the last quarter. Institutional investors and hedge funds own 67.35% of the company’s stock.
About Deere &
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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