UBS Group downgraded shares of Deere & Company (NYSE:DE) from a buy rating to a neutral rating in a research note published on Wednesday, Benzinga reports. UBS Group currently has $167.00 target price on the industrial products company’s stock, up from their prior target price of $158.00.
DE has been the topic of several other research reports. Royal Bank of Canada set a €475.00 ($552.33) price target on shares of Rational and gave the stock a sell rating in a report on Monday, May 20th. Citigroup set a $6.00 price target on shares of Solid Biosciences and gave the stock a hold rating in a report on Thursday, May 16th. Robert W. Baird upgraded shares of Deere & Company from a neutral rating to an outperform rating and increased their price target for the stock from $129.00 to $175.00 in a report on Sunday, June 16th. Morgan Stanley reiterated a hold rating on shares of PG&E in a report on Friday, June 21st. Finally, Jefferies Financial Group upgraded shares of AGCO from a hold rating to a buy rating and increased their price target for the stock from $70.00 to $90.00 in a report on Monday, June 24th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and thirteen have assigned a buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $167.94.
Shares of NYSE:DE opened at $165.37 on Wednesday. Deere & Company has a twelve month low of $128.32 and a twelve month high of $169.99. The stock has a 50 day simple moving average of $154.56. The company has a current ratio of 1.94, a quick ratio of 1.66 and a debt-to-equity ratio of 2.37. The firm has a market cap of $52.42 billion, a P/E ratio of 16.62, a PEG ratio of 1.57 and a beta of 1.12.
Deere & Company (NYSE:DE) last issued its quarterly earnings results on Friday, May 17th. The industrial products company reported $3.52 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $3.57 by ($0.05). Deere & Company had a return on equity of 28.76% and a net margin of 8.52%. The business had revenue of $10.27 billion during the quarter, compared to analyst estimates of $10.19 billion. During the same quarter last year, the company posted $3.14 EPS. Deere & Company’s quarterly revenue was up 5.4% compared to the same quarter last year. On average, research analysts anticipate that Deere & Company will post 10.23 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Friday, June 28th will be paid a dividend of $0.76 per share. The ex-dividend date is Thursday, June 27th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 1.84%. Deere & Company’s payout ratio is 32.37%.
In other news, COO John C. May II sold 16,468 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The shares were 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 owns 60,550 shares of the company’s stock, valued at approximately $9,882,365.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.71% of the stock is owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in DE. Norges Bank acquired a new stake in Deere & Company in the 4th quarter valued at $582,245,000. JPMorgan Chase & Co. grew its stake in Deere & Company by 67.0% in the 1st quarter. JPMorgan Chase & Co. now owns 3,733,015 shares of the industrial products company’s stock valued at $596,683,000 after acquiring an additional 1,497,433 shares during the period. FMR LLC grew its stake in Deere & Company by 13.6% in the 1st quarter. FMR LLC now owns 8,713,051 shares of the industrial products company’s stock valued at $1,392,694,000 after acquiring an additional 1,043,039 shares during the period. Janus Henderson Group PLC grew its stake in Deere & Company by 47.6% in the 1st quarter. Janus Henderson Group PLC now owns 2,749,227 shares of the industrial products company’s stock valued at $439,432,000 after acquiring an additional 886,561 shares during the period. Finally, Geode Capital Management LLC grew its stake in Deere & Company by 7.2% in the 4th quarter. Geode Capital Management LLC now owns 3,655,571 shares of the industrial products company’s stock valued at $544,229,000 after acquiring an additional 244,266 shares during the period. 68.04% of the stock is currently owned by hedge funds and other institutional investors.
About Deere & Company
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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