Deere & Co. (DE) Given Average Rating of “Hold” by Brokerages
Shares of Deere & Co. (NYSE:DE) have received an average recommendation of “Hold” from the twenty-four analysts that are currently covering the company. Eight investment analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation, seven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $82.28.
Several analysts have recently issued reports on the company. Barclays PLC upped their price objective on Deere & Co. from $63.00 to $68.00 and gave the company an “underweight” rating in a research report on Wednesday, October 12th. Wells Fargo & Co. upgraded Deere & Co. from a “market perform” rating to an “outperform” rating in a research report on Monday, October 10th. TheStreet downgraded Deere & Co. from a “buy” rating to a “hold” rating in a research report on Monday, October 3rd. Zacks Investment Research upgraded Deere & Co. from a “hold” rating to a “strong-buy” rating and set a $95.00 target price on the stock in a research report on Monday, September 12th. Finally, Deutsche Bank AG assumed coverage on Deere & Co. in a research report on Tuesday, September 6th. They set a “hold” rating and a $90.00 target price on the stock.
A number of hedge funds and other institutional investors have recently modified their holdings of DE. Sun Life Financial INC acquired a new position in shares of Deere & Co. during the first quarter worth approximately $63,594,000. Washington Trust Bank increased its position in Deere & Co. by 59.0% in the second quarter. Washington Trust Bank now owns 1,240 shares of the company’s stock worth $100,000 after buying an additional 460 shares in the last quarter. FineMark National Bank & Trust increased its position in Deere & Co. by 1.8% in the second quarter. FineMark National Bank & Trust now owns 1,451 shares of the company’s stock worth $118,000 after buying an additional 26 shares in the last quarter. Signaturefd LLC increased its position in Deere & Co. by 1.3% in the second quarter. Signaturefd LLC now owns 1,610 shares of the company’s stock worth $130,000 after buying an additional 21 shares in the last quarter. Finally, Meeder Asset Management Inc. purchased a new position in Deere & Co. during the first quarter worth approximately $142,000. 70.55% of the stock is owned by hedge funds and other institutional investors.
Deere & Co. (NYSE:DE) opened at 86.40 on Wednesday. Deere & Co. has a 52 week low of $70.16 and a 52 week high of $89.34. The stock has a market cap of $27.17 billion, a PE ratio of 17.31 and a beta of 0.89. The stock has a 50 day moving average price of $84.29 and a 200 day moving average price of $82.14.
Deere & Co. (NYSE:DE) last issued its quarterly earnings data on Friday, August 19th. The company reported $1.55 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.94 by $0.61. Deere & Co. had a return on equity of 22.73% and a net margin of 5.92%. The business had revenue of $6.72 billion for the quarter. During the same quarter in the prior year, the company earned $1.53 earnings per share. The firm’s revenue was down 14.3% compared to the same quarter last year. On average, equities analysts predict that Deere & Co. will post $4.30 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Friday, September 30th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date of this dividend is Wednesday, September 28th. Deere & Co.’s dividend payout ratio is currently 48.10%.
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.
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