Bank of America upgraded shares of Deere & Company (NYSE:DE) from a neutral rating to a buy rating in a report released on Monday, 24/7 WallStreet reports. They currently have $185.00 price objective on the industrial products company’s stock.
A number of other equities research analysts have also commented on the company. Vertical Research lowered Deere & Company from a buy rating to a hold rating in a research report on Monday, May 20th. Berenberg Bank upped their price target on Hiscox from GBX 1,569 ($20.50) to GBX 1,581 ($20.66) and gave the company a hold rating in a research report on Thursday, May 9th. Morgan Stanley reiterated a hold rating on shares of PG&E in a research report on Friday, June 21st. Macquarie set a $132.00 price target on Deere & Company and gave the company a hold rating in a research report on Monday, May 20th. Finally, Wells Fargo & Co reiterated a buy rating and issued a $85.00 price target on shares of Carvana in a research report on Monday, July 1st. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and thirteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $168.61.
Shares of DE stock opened at $163.08 on Monday. The company has a market cap of $52.62 billion, a price-to-earnings ratio of 17.37, a P/E/G ratio of 1.58 and a beta of 1.12. Deere & Company has a twelve month low of $128.32 and a twelve month high of $169.99. The company has a debt-to-equity ratio of 2.37, a current ratio of 1.94 and a quick ratio of 1.66. The stock’s fifty day moving average price is $157.20.
Deere & Company (NYSE:DE) last issued its quarterly earnings data on Friday, May 17th. The industrial products company reported $3.52 earnings per share for the quarter, missing analysts’ consensus estimates of $3.57 by ($0.05). The firm had revenue of $10.27 billion for the quarter, compared to the consensus estimate of $10.19 billion. Deere & Company had a return on equity of 28.76% and a net margin of 8.52%. The company’s revenue was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.14 EPS. On average, sell-side analysts anticipate that Deere & Company will post 10.23 earnings per share for the current fiscal year.
The firm 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 $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date is Thursday, June 27th. Deere & Company’s dividend payout ratio is 32.37%.
In other news, COO John C. May II sold 16,468 shares of the business’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $163.21, for a total value of $2,687,742.28. Following the transaction, 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.71% of the stock is owned by insiders.
A number of hedge funds have recently bought and sold shares of DE. Private Ocean LLC raised its stake in Deere & Company by 560.0% during the 1st quarter. Private Ocean LLC now owns 198 shares of the industrial products company’s stock worth $32,000 after buying an additional 168 shares during the period. Ellis Investment Partners LLC acquired a new position in Deere & Company during the 1st quarter worth approximately $33,000. Orrstown Financial Services Inc. raised its stake in Deere & Company by 116.0% during the 2nd quarter. Orrstown Financial Services Inc. now owns 216 shares of the industrial products company’s stock worth $36,000 after buying an additional 116 shares during the period. Field & Main Bank acquired a new position in Deere & Company during the 1st quarter worth approximately $40,000. Finally, Vestor Capital LLC acquired a new position in Deere & Company during the 4th quarter worth approximately $45,000. 68.00% of the stock is currently owned by institutional investors and hedge funds.
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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