Deere & Company (DE) Receives Consensus Rating of “Hold” from Analysts
Deere & Company (NYSE:DE) has earned an average recommendation of “Hold” from the thirty analysts that are currently covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, sixteen have assigned a hold recommendation and ten have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $126.69.
DE has been the subject of a number of research analyst reports. ValuEngine raised shares of Deere & from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. BidaskClub lowered shares of Deere & from a “buy” rating to a “hold” rating in a research report on Wednesday, June 28th. Robert W. Baird lowered shares of Deere & from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $140.00 to $130.00 in a research report on Friday, August 18th. BMO Capital Markets reissued an “outperform” rating and set a $150.00 target price (up previously from $140.00) on shares of Deere & in a research report on Wednesday, August 16th. Finally, Stifel Nicolaus set a $135.00 target price on shares of Deere & and gave the stock a “buy” rating in a research report on Wednesday, August 23rd.
Shares of Deere & (DE) traded up 0.57% on Thursday, hitting $128.50. The company had a trading volume of 2,751,408 shares. Deere & has a 12-month low of $85.27 and a 12-month high of $132.50. The company has a 50 day moving average of $121.20 and a 200-day moving average of $120.36. The company has a market cap of $41.29 billion, a price-to-earnings ratio of 21.34 and a beta of 0.69.
Deere & (NYSE:DE) last released its earnings results on Friday, August 18th. The industrial products company reported $1.97 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.93 by $0.04. The firm had revenue of $6.83 billion during the quarter, compared to analyst estimates of $6.92 billion. Deere & had a net margin of 6.81% and a return on equity of 25.96%. The business’s revenue was up 16.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.55 EPS. On average, analysts forecast that Deere & will post $6.52 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Friday, September 29th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $2.40 annualized dividend and a yield of 1.87%. Deere &’s dividend payout ratio is 40.20%.
In other Deere & news, insider Jean H. Gilles sold 8,015 shares of the company’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $129.99, for a total transaction of $1,041,869.85. Following the sale, the insider now directly owns 70,635 shares of the company’s stock, valued at $9,181,843.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Max A. Guinn sold 5,000 shares of the company’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $130.89, for a total transaction of $654,450.00. The disclosure for this sale can be found here. Insiders have sold 116,023 shares of company stock worth $14,185,962 over the last ninety days. Insiders own 0.85% of the company’s stock.
A number of institutional investors have recently modified their holdings of the business. First National Bank of Mount Dora Trust Investment Services lifted its position in shares of Deere & by 6.5% during the third quarter. First National Bank of Mount Dora Trust Investment Services now owns 38,250 shares of the industrial products company’s stock worth $4,804,000 after purchasing an additional 2,323 shares in the last quarter. Eqis Capital Management Inc. lifted its position in shares of Deere & by 8.6% during the third quarter. Eqis Capital Management Inc. now owns 8,004 shares of the industrial products company’s stock worth $1,005,000 after purchasing an additional 636 shares in the last quarter. MPS Loria Financial Planners LLC acquired a new position in shares of Deere & during the second quarter worth approximately $369,000. Achmea Investment Management B.V. lifted its position in shares of Deere & by 175.7% during the second quarter. Achmea Investment Management B.V. now owns 28,303 shares of the industrial products company’s stock worth $3,496,000 after purchasing an additional 18,036 shares in the last quarter. Finally, Toronto Dominion Bank lifted its position in shares of Deere & by 25.3% during the second quarter. Toronto Dominion Bank now owns 101,897 shares of the industrial products company’s stock worth $12,591,000 after purchasing an additional 20,596 shares in the last quarter. 66.17% of the stock is currently owned by hedge funds and other institutional investors.
Deere & 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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