Deere & Company (NYSE:DE) Earns “Buy” Rating from DA Davidson

Deere & Company (NYSE:DE)‘s stock had its “buy” rating reissued by equities research analysts at DA Davidson in a report released on Monday, Marketbeat.com reports. They currently have a $580.00 price target on the industrial products company’s stock. DA Davidson’s target price points to a potential upside of 23.66% from the company’s previous close.

DE has been the topic of a number of other research reports. JPMorgan Chase & Co. cut their price objective on shares of Deere & Company from $495.00 to $480.00 and set a “neutral” rating on the stock in a report on Tuesday, October 14th. Robert W. Baird dropped their target price on shares of Deere & Company from $488.00 to $467.00 and set a “neutral” rating on the stock in a research report on Monday, October 13th. Daiwa Capital Markets reduced their price target on shares of Deere & Company from $565.00 to $530.00 and set an “outperform” rating for the company in a research report on Thursday, September 25th. UBS Group reaffirmed a “buy” rating on shares of Deere & Company in a report on Tuesday, November 25th. Finally, Royal Bank Of Canada reduced their target price on Deere & Company from $542.00 to $541.00 and set an “outperform” rating for the company in a report on Friday. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $518.95.

Deere & Company Trading Up 0.2%

NYSE:DE opened at $469.04 on Monday. The firm has a market cap of $126.80 billion, a PE ratio of 25.34, a price-to-earnings-growth ratio of 1.71 and a beta of 1.00. The stock has a fifty day moving average price of $467.02 and a 200 day moving average price of $489.69. Deere & Company has a 12-month low of $403.01 and a 12-month high of $533.78. The company has a current ratio of 2.22, a quick ratio of 2.01 and a debt-to-equity ratio of 1.68.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Wednesday, November 26th. The industrial products company reported $3.93 EPS for the quarter, missing analysts’ consensus estimates of $3.96 by ($0.03). Deere & Company had a net margin of 11.00% and a return on equity of 20.54%. The firm had revenue of $12.39 billion during the quarter, compared to analysts’ expectations of $9.77 billion. During the same period in the prior year, the company posted $4.55 earnings per share. The company’s revenue for the quarter was up 14.1% on a year-over-year basis. Sell-side analysts anticipate that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Deere & Company news, CEO John C. May II sold 11,106 shares of the stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $500.08, for a total transaction of $5,553,888.48. Following the completion of the sale, the chief executive officer directly owned 112,453 shares of the company’s stock, valued at approximately $56,235,496.24. This trade represents a 8.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.29% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Deere & Company

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in Deere & Company by 1.4% during the second quarter. Vanguard Group Inc. now owns 22,372,671 shares of the industrial products company’s stock worth $11,376,279,000 after acquiring an additional 309,081 shares during the period. State Street Corp boosted its position in shares of Deere & Company by 0.6% during the 2nd quarter. State Street Corp now owns 10,386,268 shares of the industrial products company’s stock worth $5,297,913,000 after purchasing an additional 64,262 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Deere & Company by 4.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,876,013 shares of the industrial products company’s stock worth $3,227,258,000 after purchasing an additional 286,253 shares during the period. Capital World Investors grew its stake in shares of Deere & Company by 5.5% during the 3rd quarter. Capital World Investors now owns 6,233,740 shares of the industrial products company’s stock worth $2,850,687,000 after purchasing an additional 322,582 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of Deere & Company by 2.1% in the 2nd quarter. Geode Capital Management LLC now owns 5,541,778 shares of the industrial products company’s stock valued at $2,810,807,000 after purchasing an additional 111,627 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Company Profile

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.