A number of other research analysts also recently issued reports on DE. Vertical Research downgraded Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, May 20th. Deutsche Bank dropped their price target on Deere & Company from $163.00 to $155.00 and set a “hold” rating for the company in a research note on Wednesday, August 14th. BMO Capital Markets restated an “outperform” rating and issued a $175.00 price target (down from $195.00) on shares of Deere & Company in a research note on Monday, May 27th. Bank of America dropped their price target on Deere & Company from $185.00 to $175.00 and set a “buy” rating for the company in a research note on Monday, August 19th. Finally, Barclays restated a “buy” rating and issued a $167.00 price target on shares of Deere & Company in a research note on Monday, July 15th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $166.89.
Shares of NYSE:DE opened at $165.15 on Thursday. The stock has a 50 day moving average of $155.88 and a 200 day moving average of $157.52. The company has a market cap of $49.86 billion, a PE ratio of 17.59, a price-to-earnings-growth ratio of 2.27 and a beta of 1.15. The company has a current ratio of 1.99, a quick ratio of 1.73 and a debt-to-equity ratio of 2.38. Deere & Company has a 12-month low of $128.32 and a 12-month high of $171.22.
Deere & Company (NYSE:DE) last announced its quarterly earnings data on Friday, August 16th. The industrial products company reported $2.71 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.80 by ($0.09). The company had revenue of $8.97 billion for the quarter, compared to the consensus estimate of $9.38 billion. Deere & Company had a net margin of 8.55% and a return on equity of 27.75%. The company’s revenue was down 3.4% compared to the same quarter last year. During the same quarter last year, the firm posted $2.59 earnings per share. Equities research analysts predict that Deere & Company will post 9.98 earnings per share for the current fiscal year.
In other news, COO John C. May II sold 16,468 shares of the company’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $163.21, for a total transaction of $2,687,742.28. Following the sale, the chief operating officer now directly owns 60,550 shares of the company’s stock, valued at approximately $9,882,365.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO John C. May II sold 5,228 shares of the stock in a transaction on Friday, July 26th. The shares were sold at an average price of $170.00, for a total value of $888,760.00. Following the sale, the chief operating officer now owns 49,310 shares in the company, valued at approximately $8,382,700. The disclosure for this sale can be found here. Corporate insiders own 0.71% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the stock. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in Deere & Company by 9.3% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 89,798 shares of the industrial products company’s stock worth $14,880,000 after purchasing an additional 7,617 shares during the period. Mackenzie Financial Corp purchased a new stake in Deere & Company in the second quarter worth $309,000. Natixis purchased a new stake in Deere & Company in the second quarter worth $15,407,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in Deere & Company in the second quarter worth $23,222,000. Finally, Hellman Jordan Management Co. Inc. MA increased its stake in Deere & Company by 90.2% in the second quarter. Hellman Jordan Management Co. Inc. MA now owns 6,326 shares of the industrial products company’s stock worth $1,048,000 after purchasing an additional 3,000 shares during the period. Institutional investors own 67.67% of the company’s stock.
Deere & Company Company Profile
Deere & Company manufactures and distributes various equipment worldwide. The company operates through three segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment offers agriculture and turf equipment, and related parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; and tillage, seeding, and application equipment.
Further Reading: Convertible Shares
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