Wells Fargo & Co. upgraded shares of Deere & Co. (NYSE:DE) from a market perform rating to an outperform rating in a report released on Monday.

Other equities research analysts have also recently issued research reports about the company. Argus increased their price objective on Deere & Co. from $90.00 to $98.00 and gave the stock a buy rating in a report on Tuesday, August 23rd. Piper Jaffray Cos. dropped their price objective on Deere & Co. from $87.00 to $80.00 and set a neutral rating for the company in a report on Thursday, August 25th. Deutsche Bank AG reiterated a buy rating and issued a $101.00 price objective on shares of Deere & Co. in a report on Thursday, August 25th. Jefferies Group dropped their price objective on Deere & Co. from $90.00 to $85.00 and set a hold rating for the company in a report on Thursday, August 25th. Finally, Barclays PLC reiterated an underweight rating and issued a $63.00 price objective on shares of Deere & Co. in a report on Monday, August 22nd. Eight analysts have rated the stock with a sell rating, eight have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Deere & Co. presently has a consensus rating of Hold and an average target price of $82.40.

Analyst Recommendations for Deere & Co. (NYSE:DE)

Deere & Co. (NYSE:DE) traded up 0.01% during midday trading on Monday, hitting $87.50. The stock had a trading volume of 236,578 shares. Deere & Co. has a 1-year low of $70.16 and a 1-year high of $89.34. The stock has a market capitalization of $27.51 billion, a PE ratio of 17.54 and a beta of 0.89. The stock’s 50-day moving average is $84.41 and its 200-day moving average is $82.00.

Deere & Co. (NYSE:DE) last issued its earnings results on Friday, August 19th. The company reported $1.55 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.61. The company earned $6.72 billion during the quarter. Deere & Co. had a return on equity of 22.73% and a net margin of 5.92%. The company’s revenue was down 14.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.53 earnings per share. On average, equities research analysts anticipate that Deere & Co. will post $4.30 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Friday, September 30th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $2.40 annualized dividend and a dividend yield of 2.74%. Deere & Co.’s dividend payout ratio (DPR) is presently 48.10%.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. BB&T Securities LLC raised its stake in shares of Deere & Co. by 156.7% in the first quarter. BB&T Securities LLC now owns 41,066 shares of the company’s stock worth $3,161,000 after buying an additional 25,066 shares during the last quarter. 1832 Asset Management L.P. raised its stake in shares of Deere & Co. by 289.6% in the first quarter. 1832 Asset Management L.P. now owns 1,012,335 shares of the company’s stock worth $131,221,000 after buying an additional 752,519 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in shares of Deere & Co. by 11.4% in the first quarter. Canada Pension Plan Investment Board now owns 53,890 shares of the company’s stock worth $4,149,000 after buying an additional 5,524 shares during the last quarter. Willis Investment Counsel raised its stake in shares of Deere & Co. by 0.6% in the first quarter. Willis Investment Counsel now owns 52,400 shares of the company’s stock worth $4,034,000 after buying an additional 300 shares during the last quarter. Finally, Ancora Inverness LLC raised its stake in shares of Deere & Co. by 8.9% in the first quarter. Ancora Inverness LLC now owns 9,125 shares of the company’s stock worth $703,000 after buying an additional 747 shares during the last quarter. Institutional investors and hedge funds own 70.62% of the company’s stock.

Deere & Co. Company Profile

Deere & Company is engaged in equipment operations and financial services. The Company operates through three business segments: agriculture and turf, construction and forestry, and financial services. The Company’s agriculture and turf segment primarily manufactures and distributes a full line of agriculture and turf equipment and related service parts.

5 Day Chart for NYSE:DE

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