Deere & Company (NYSE:DE) has received a consensus recommendation of “Hold” from the twenty-two ratings firms that are currently covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and eleven have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $172.28.
Several brokerages have issued reports on DE. Wells Fargo & Co increased their target price on shares of Deere & Company from $177.00 to $185.00 and gave the stock an “equal weight” rating in a report on Tuesday. Morgan Stanley increased their target price on shares of Deere & Company from $180.00 to $197.00 and gave the stock an “overweight” rating in a report on Friday, November 29th. Deutsche Bank restated a “hold” rating and issued a $169.00 price target (up from $155.00) on shares of Deere & Company in a report on Wednesday, November 20th. Barclays set a $180.00 price target on shares of Deere & Company and gave the company a “buy” rating in a report on Tuesday, October 15th. Finally, JPMorgan Chase & Co. restated a “sell” rating and issued a $140.00 price target on shares of Deere & Company in a report on Monday, November 25th.
Shares of NYSE DE traded up $2.04 during mid-day trading on Thursday, reaching $174.96. The company had a trading volume of 64,165 shares, compared to its average volume of 1,181,616. The business’s 50-day moving average is $172.16 and its 200-day moving average is $166.72. The company has a current ratio of 2.04, a quick ratio of 1.80 and a debt-to-equity ratio of 2.65. The stock has a market cap of $54.67 billion, a price-to-earnings ratio of 17.57, a price-to-earnings-growth ratio of 4.11 and a beta of 1.13. Deere & Company has a 52 week low of $132.68 and a 52 week high of $180.48.
Deere & Company (NYSE:DE) last issued its earnings results on Wednesday, November 27th. The industrial products company reported $2.14 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.13 by $0.01. Deere & Company had a net margin of 8.29% and a return on equity of 27.11%. The company had revenue of $8.70 billion for the quarter, compared to analysts’ expectations of $8.41 billion. During the same period in the prior year, the business earned $2.30 EPS. The firm’s quarterly revenue was up 4.3% on a year-over-year basis. As a group, equities research analysts forecast that Deere & Company will post 9.44 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.76 per share. The ex-dividend date is Monday, December 30th. This represents a $3.04 annualized dividend and a yield of 1.74%. Deere & Company’s dividend payout ratio (DPR) is presently 30.58%.
In other news, Chairman Samuel R. Allen sold 114,253 shares of Deere & Company stock in a transaction on Monday, November 4th. The stock was sold at an average price of $178.30, for a total transaction of $20,371,309.90. Following the transaction, the chairman now owns 423,497 shares in the company, valued at approximately $75,509,515.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider James M. Field sold 12,637 shares of Deere & Company stock in a transaction on Monday, November 11th. The stock was sold at an average price of $180.00, for a total value of $2,274,660.00. Following the transaction, the insider now owns 113,858 shares in the company, valued at approximately $20,494,440. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 152,228 shares of company stock worth $26,934,906. 0.71% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Benjamin Edwards Inc. raised its holdings in Deere & Company by 69.7% in the 3rd quarter. Benjamin Edwards Inc. now owns 151 shares of the industrial products company’s stock valued at $25,000 after buying an additional 62 shares during the period. Atwater Malick LLC purchased a new stake in Deere & Company in the 3rd quarter valued at about $27,000. Allred Capital Management LLC purchased a new stake in Deere & Company in the 4th quarter valued at about $30,000. Resources Management Corp CT ADV purchased a new stake in Deere & Company in the 3rd quarter valued at about $34,000. Finally, Doyle Wealth Management purchased a new stake in Deere & Company in the 2nd quarter valued at about $53,000. Institutional investors and hedge funds own 67.53% 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.
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