Deere & Company (DE) Receives Average Rating of “Buy” from Brokerages

Shares of Deere & Company (NYSE:DE) have earned an average recommendation of “Buy” from the twenty-four analysts that are covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and fourteen have assigned a buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $153.10.

A number of analysts recently issued reports on DE shares. Wells Fargo & Co restated a “buy” rating and set a $170.00 price objective on shares of Deere & Company in a report on Thursday, November 23rd. Deutsche Bank upgraded shares of Deere & Company from a “hold” rating to a “buy” rating and raised their price objective for the company from $149.00 to $167.00 in a research report on Thursday, November 23rd. Zacks Investment Research upgraded shares of Deere & Company from a “hold” rating to a “buy” rating and set a $150.00 price objective for the company in a research report on Thursday, November 2nd. BMO Capital Markets restated a “buy” rating and issued a $150.00 price objective on shares of Deere & Company in a research report on Thursday, November 2nd. Finally, Argus restated a “buy” rating and issued a $165.00 price objective on shares of Deere & Company in a research report on Monday, November 27th. They noted that the move was a valuation call.

Deere & Company (NYSE:DE) traded up $2.42 during midday trading on Friday, reaching $170.32. 1,612,861 shares of the company were exchanged, compared to its average volume of 2,000,000. Deere & Company has a 1-year low of $105.04 and a 1-year high of $170.73. The company has a debt-to-equity ratio of 2.71, a current ratio of 2.12 and a quick ratio of 1.95. The stock has a market capitalization of $54,720.00, a P/E ratio of 25.61, a PEG ratio of 2.51 and a beta of 0.77.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Wednesday, November 22nd. The industrial products company reported $1.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.47 by $0.10. Deere & Company had a net margin of 7.22% and a return on equity of 26.31%. The business had revenue of $7.09 billion during the quarter, compared to the consensus estimate of $6.91 billion. During the same quarter last year, the company posted $0.90 earnings per share. The firm’s quarterly revenue was up 25.6% compared to the same quarter last year. research analysts predict that Deere & Company will post 8.15 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Friday, December 29th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $2.40 annualized dividend and a yield of 1.41%. Deere & Company’s payout ratio is presently 36.09%.

In other Deere & Company news, insider Max A. Guinn sold 7,174 shares of Deere & Company stock in a transaction that occurred on 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 sale, the insider now directly owns 49,562 shares in the company, valued at $6,590,754.76. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider John C. May II sold 18,626 shares of Deere & Company stock in a transaction that occurred on Tuesday, October 24th. The shares were sold at an average price of $130.76, for a total transaction of $2,435,535.76. Following the sale, the insider now owns 37,462 shares of the company’s stock, valued at $4,898,531.12. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 246,097 shares of company stock valued at $35,868,394. 0.85% of the stock is currently owned by company insiders.

A number of institutional investors have recently made changes to their positions in the business. Winslow Evans & Crocker Inc. raised its stake in shares of Deere & Company by 39.2% during the fourth quarter. Winslow Evans & Crocker Inc. now owns 11,580 shares of the industrial products company’s stock worth $1,812,000 after acquiring an additional 3,260 shares in the last quarter. V Wealth Management LLC raised its stake in shares of Deere & Company by 6.9% during the fourth quarter. V Wealth Management LLC now owns 5,634 shares of the industrial products company’s stock worth $950,000 after acquiring an additional 364 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Deere & Company by 13.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 8,118 shares of the industrial products company’s stock worth $1,374,000 after acquiring an additional 939 shares in the last quarter. Bender Robert & Associates purchased a new position in shares of Deere & Company during the fourth quarter worth approximately $213,000. Finally, Bartlett & Co. LLC raised its stake in shares of Deere & Company by 44.9% during the fourth quarter. Bartlett & Co. LLC now owns 152,177 shares of the industrial products company’s stock worth $23,817,000 after acquiring an additional 47,129 shares in the last quarter. Institutional investors and hedge funds own 67.37% of the company’s stock.

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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.

Analyst Recommendations for Deere & Company (NYSE:DE)

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