Deere & Co. (DE) Upgraded to Buy by Clarkson Capital
A number of other analysts have also issued reports on the company. Piper Jaffray Cos. lowered Deere & Co. from a neutral rating to an underweight rating and lowered their price target for the company from $77.64 to $67.00 in a report on Monday, July 25th. Vetr upgraded Deere & Co. from a strong sell rating to a sell rating and set a $73.25 target price for the company in a report on Monday, June 27th. Wells Fargo & Co. upgraded Deere & Co. from a market perform rating to an outperform rating in a report on Monday, October 10th. TheStreet lowered Deere & Co. from a buy rating to a hold rating in a report on Monday, October 3rd. Finally, Citigroup Inc. lowered their target price on Deere & Co. from $100.00 to $87.00 and set a buy rating for the company in a report on Monday, August 22nd. Eight research analysts have rated the stock with a sell rating, eight have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Deere & Co. presently has a consensus rating of Hold and an average price target of $82.27.
Deere & Co. (NYSE:DE) traded down 0.72% during mid-day trading on Tuesday, hitting $85.99. The company’s stock had a trading volume of 249,077 shares. The company has a market cap of $27.04 billion, a P/E ratio of 17.23 and a beta of 0.89. Deere & Co. has a 12-month low of $70.16 and a 12-month high of $89.34. The firm’s 50-day moving average is $84.27 and its 200-day moving average is $82.31.
Deere & Co. (NYSE:DE) last announced its quarterly earnings results on Friday, August 19th. The company reported $1.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.61. The firm 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 firm’s revenue for the quarter was down 14.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.53 EPS. Analysts predict that Deere & Co. will post $4.30 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Friday, September 30th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $2.40 dividend on an annualized basis and a yield of 2.77%. Deere & Co.’s dividend payout ratio is presently 48.10%.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Rehmann Capital Advisory Group raised its position in Deere & Co. by 0.3% in the second quarter. Rehmann Capital Advisory Group now owns 2,693 shares of the company’s stock worth $218,000 after buying an additional 8 shares in the last quarter. Signaturefd LLC raised its position in shares of 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 during the period. FineMark National Bank & Trust raised its position in shares of 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 during the period. Capital Investment Advisors LLC raised its position in shares of Deere & Co. by 0.8% in the third quarter. Capital Investment Advisors LLC now owns 3,317 shares of the company’s stock worth $283,000 after buying an additional 27 shares during the period. Finally, Pacific Global Investment Management CO raised its position in shares of Deere & Co. by 0.3% in the second quarter. Pacific Global Investment Management CO now owns 9,468 shares of the company’s stock worth $767,000 after buying an additional 31 shares during the period. Institutional investors own 70.55% of the company’s stock.
About Deere & Co.
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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