Deere & Company (NYSE:DE) – Research analysts at Jefferies Group boosted their FY2018 earnings estimates for Deere & Company in a research report issued to clients and investors on Thursday. Jefferies Group analyst S. Volkmann now anticipates that the industrial products company will post earnings per share of $8.30 for the year, up from their prior forecast of $8.00. Jefferies Group has a “Hold” rating and a $150.00 price objective on the stock. Jefferies Group also issued estimates for Deere & Company’s FY2019 earnings at $10.10 EPS.
A number of other equities analysts also recently commented on DE. Seaport Global Securities restated a “hold” rating on shares of Deere & Company in a research note on Thursday. Stifel Nicolaus restated a “buy” rating and set a $184.00 price objective (up from $161.00) on shares of Deere & Company in a research note on Wednesday. Citigroup increased their price objective on shares of Deere & Company from $165.00 to $200.00 and gave the stock a “buy” rating in a research note on Tuesday. Robert W. Baird restated a “buy” rating and set a $185.00 price objective on shares of Deere & Company in a research note on Friday, January 12th. Finally, Barclays upgraded shares of Deere & Company from a “sector perform” rating to an “outperform” rating and set a $171.00 price objective for the company in a research note on Wednesday, January 10th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and fourteen have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $149.78.
Deere & Company (NYSE:DE) last announced its earnings results on Wednesday, November 22nd. The industrial products company reported $1.57 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.47 by $0.10. The firm had revenue of $7.09 billion during the quarter, compared to analyst estimates of $6.91 billion. Deere & Company had a net margin of 7.22% and a return on equity of 26.31%. The company’s revenue for the quarter was up 25.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.90 EPS.
The company also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Friday, December 29th will be paid a $0.60 dividend. The ex-dividend date is Thursday, December 28th. This represents a $2.40 annualized dividend and a yield of 1.43%. Deere & Company’s dividend payout ratio (DPR) is currently 36.09%.
In other Deere & Company news, insider John C. May II sold 18,626 shares of the stock in a transaction dated Tuesday, October 24th. The shares were sold at an average price of $130.76, for a total value of $2,435,535.76. Following the transaction, the insider now directly owns 37,462 shares of the company’s stock, valued at approximately $4,898,531.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Max A. Guinn sold 7,174 shares of the stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $132.98, for a total transaction of $953,998.52. Following the completion of the transaction, the insider now directly owns 49,562 shares in the company, valued at $6,590,754.76. The disclosure for this sale can be found here. Insiders sold a total of 246,097 shares of company stock valued at $35,868,394 over the last quarter. 0.85% of the stock is currently owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in DE. Beach Investment Management LLC. bought a new position in shares of Deere & Company during the second quarter worth approximately $416,000. Delta Lloyd Asset Management N.V. bought a new position in shares of Deere & Company during the second quarter worth approximately $4,501,000. Westpac Banking Corp increased its holdings in shares of Deere & Company by 6.6% during the second quarter. Westpac Banking Corp now owns 18,018 shares of the industrial products company’s stock worth $2,227,000 after purchasing an additional 1,113 shares during the period. Sequoia Financial Advisors LLC bought a new position in shares of Deere & Company during the second quarter worth approximately $216,000. Finally, Cipher Capital LP bought a new position in shares of Deere & Company during the second quarter worth approximately $1,411,000. 67.37% of the stock is currently owned by hedge funds and other institutional investors.
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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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