Shares of Deere & Company (NYSE:DE) have received a consensus rating of “Hold” from the twenty-eight research firms that are currently covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell recommendation, twelve have issued a hold recommendation, eleven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $121.20.
Several brokerages have commented on DE. Credit Suisse Group set a $132.00 target price on shares of Deere & Company and gave the company a “buy” rating in a research note on Saturday, May 20th. Barclays PLC set a $100.00 price objective on shares of Deere & Company and gave the stock a “sell” rating in a research report on Sunday, June 4th. Citigroup Inc. raised their target price on shares of Deere & Company from $145.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, June 9th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $109.00 target price on shares of Deere & Company in a research report on Tuesday, February 21st. Finally, J P Morgan Chase & Co upgraded shares of Deere & Company from an “underweight” rating to a “neutral” rating and increased their price target for the company from $103.00 to $122.00 in a research note on Friday, June 2nd.
Shares of Deere & Company (NYSE:DE) traded down 0.71% on Monday, hitting $126.99. The company had a trading volume of 2,089,802 shares. Deere & Company has a 12-month low of $76.73 and a 12-month high of $128.37. The company has a 50 day moving average of $119.40 and a 200-day moving average of $110.34. The company has a market cap of $40.62 billion, a price-to-earnings ratio of 22.86 and a beta of 0.71.
Deere & Company (NYSE:DE) last announced its quarterly earnings data on Friday, May 19th. The industrial products company reported $2.49 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.70 by $0.79. Deere & Company had a net margin of 6.52% and a return on equity of 24.85%. The business had revenue of $7.26 billion for the quarter, compared to analyst estimates of $7.27 billion. During the same period in the prior year, the business posted $1.56 earnings per share. Deere & Company’s revenue was up 2.2% compared to the same quarter last year. On average, analysts forecast that Deere & Company will post $6.29 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 1st. Shareholders of record on Friday, June 30th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date is Wednesday, June 28th. Deere & Company’s payout ratio is currently 43.24%.
In other news, VP Marc A. Howze sold 6,624 shares of the firm’s stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $119.59, for a total value of $792,164.16. Following the transaction, the vice president now owns 9,004 shares in the company, valued at $1,076,788.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Cory J. Reed sold 4,936 shares of the firm’s stock in a transaction on Friday, June 16th. The stock was sold at an average price of $128.00, for a total value of $631,808.00. Following the completion of the sale, the insider now directly owns 9,903 shares of the company’s stock, valued at approximately $1,267,584. The disclosure for this sale can be found here. Insiders have sold 105,612 shares of company stock worth $13,149,023 over the last quarter. Company insiders own 0.75% of the company’s stock.
A number of institutional investors have recently made changes to their positions in DE. BlackRock Inc. raised its position in shares of Deere & Company by 2,432.6% in the first quarter. BlackRock Inc. now owns 16,715,452 shares of the industrial products company’s stock valued at $1,819,643,000 after buying an additional 16,055,453 shares in the last quarter. Viking Global Investors LP purchased a new position in shares of Deere & Company during the fourth quarter valued at approximately $959,411,000. FMR LLC increased its position in shares of Deere & Company by 63.4% in the fourth quarter. FMR LLC now owns 6,221,374 shares of the industrial products company’s stock valued at $641,050,000 after buying an additional 2,414,034 shares during the last quarter. Norges Bank bought a new position in shares of Deere & Company during the fourth quarter valued at $223,422,000. Finally, Vanguard Group Inc. increased its position in shares of Deere & Company by 8.2% in the first quarter. Vanguard Group Inc. now owns 20,440,278 shares of the industrial products company’s stock valued at $2,225,128,000 after buying an additional 1,541,004 shares during the last quarter. 67.82% of the stock is owned by institutional investors and hedge funds.
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Deere & Company Company Profile
Deere & Company is engaged in equipment operations. The Company is engaged in providing financial services. The Company operates through three business segments: agriculture and turf, construction and forestry, and financial services. The agriculture and turf segment manufactures and distributes a line of agriculture and turf equipment and related service parts.
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