Deere & Sees Unusually High Options Volume (DE)
Deere & Company (NYSE:DE) saw unusually large options trading activity on Wednesday. Stock investors acquired 731 call options on the company. This is an increase of 255% compared to the average volume of 206 call options.
Several equities research analysts have commented on DE shares. BidaskClub raised shares of Deere & from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 19th. Goldman Sachs Group, Inc. (The) raised shares of Deere & from a “buy” rating to a “conviction-buy” rating and set a $129.75 price objective on the stock in a report on Monday, August 7th. Jefferies Group LLC reaffirmed a “hold” rating and set a $125.00 price objective on shares of Deere & in a report on Wednesday, August 9th. Deutsche Bank AG reaffirmed a “hold” rating and set a $139.00 price objective (up from $135.00) on shares of Deere & in a report on Friday, August 11th. Finally, Bank of America Corporation downgraded shares of Deere & from a “buy” rating to a “neutral” rating and set a $145.00 price objective on the stock. in a report on Tuesday, August 15th. Three investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and ten have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $129.08.
Deere & (NYSE DE) opened at $135.03 on Friday. The company has a debt-to-equity ratio of 2.76, a quick ratio of 1.90 and a current ratio of 2.10. The stock has a market cap of $43.20 billion, a P/E ratio of 22.52, a P/E/G ratio of 2.43 and a beta of 0.73.
Deere & (NYSE:DE) last issued its quarterly earnings results on Friday, August 18th. The industrial products company reported $1.97 EPS for the quarter, beating analysts’ consensus estimates of $1.93 by $0.04. Deere & had a net margin of 6.81% and a return on equity of 25.96%. The business had revenue of $6.83 billion for the quarter, compared to analysts’ expectations of $6.92 billion. During the same period last year, the business earned $1.55 earnings per share. The business’s quarterly revenue was up 16.6% on a year-over-year basis. equities analysts expect that Deere & will post 6.47 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 1st. Shareholders of record on Friday, September 29th were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date was Thursday, September 28th. Deere &’s payout ratio is currently 40.20%.
In related news, insider Jean H. Gilles sold 8,015 shares of the business’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $129.99, for a total value of $1,041,869.85. Following the transaction, the insider now directly owns 70,635 shares of the company’s stock, valued at approximately $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 Pentz Markwart Von sold 46,457 shares of the business’s stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $116.74, for a total transaction of $5,423,390.18. Following the completion of the transaction, the insider now directly owns 47,165 shares in the company, valued at $5,506,042.10. The disclosure for this sale can be found here. Insiders sold a total of 138,013 shares of company stock worth $17,123,247 over the last three months. 0.85% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Hennessy Advisors Inc. grew its position in Deere & by 3.9% during the third quarter. Hennessy Advisors Inc. now owns 18,700 shares of the industrial products company’s stock valued at $2,349,000 after acquiring an additional 700 shares during the last quarter. Princeton Capital Management Inc. grew its position in Deere & by 15.0% during the third quarter. Princeton Capital Management Inc. now owns 9,511 shares of the industrial products company’s stock valued at $1,194,000 after acquiring an additional 1,240 shares during the last quarter. Moisand Fitzgerald Tamayo LLC bought a new position in Deere & during the third quarter valued at approximately $158,000. Advantus Capital Management Inc grew its position in Deere & by 9.2% during the third quarter. Advantus Capital Management Inc now owns 32,410 shares of the industrial products company’s stock valued at $4,070,000 after acquiring an additional 2,735 shares during the last quarter. Finally, Swiss National Bank grew its position in Deere & by 0.9% during the third quarter. Swiss National Bank now owns 996,719 shares of the industrial products company’s stock valued at $125,178,000 after acquiring an additional 8,900 shares during the last quarter. Institutional investors and hedge funds own 65.95% 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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