Deere & Co. (DE) Rating Lowered to Neutral at Robert W. Baird
Deere & Co. (NYSE:DE) was downgraded by stock analysts at Robert W. Baird from an “outperform” rating to a “neutral” rating in a note issued to investors on Monday.
Several other research firms have also recently weighed in on DE. JPMorgan Chase & Co. reissued an “underweight” rating on shares of Deere & Co. in a research report on Friday, October 21st. RBC Capital Markets initiated coverage on Deere & Co. in a report on Thursday, November 10th. They issued an “outperform” rating for the company. Oppenheimer Holdings Inc. cut Deere & Co. from an “outperform” rating to a “market perform” rating in a report on Thursday, October 27th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $96.00 price target on shares of Deere & Co. in a report on Thursday, August 18th. Finally, Jefferies Group reaffirmed a “hold” rating and issued a $70.00 price target on shares of Deere & Co. in a report on Friday, August 19th. Eight research analysts have rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $83.57.
Shares of Deere & Co. (NYSE:DE) traded up 0.04% during midday trading on Monday, reaching $91.29. The company’s stock had a trading volume of 136,524 shares. The stock has a market capitalization of $28.70 billion, a P/E ratio of 18.29 and a beta of 0.71. The stock’s 50-day moving average is $86.71 and its 200 day moving average is $83.44. Deere & Co. has a 12 month low of $70.16 and a 12 month high of $92.99.
Deere & Co. (NYSE:DE) last released its quarterly earnings data 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%. Deere & Co.’s revenue for the quarter was down 14.3% on a year-over-year basis. During the same period in the previous year, the business posted $1.53 EPS. On average, analysts expect that Deere & Co. will post $4.32 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, November 1st. Stockholders of record on Friday, September 30th were given a $0.60 dividend. The ex-dividend date of this dividend was Wednesday, September 28th. This represents a $2.40 annualized dividend and a dividend yield of 2.63%. Deere & Co.’s dividend payout ratio is currently 48.10%.
Several hedge funds and other institutional investors have recently bought and sold shares of DE. Robecosam AG raised its position in Deere & Co. by 0.5% in the first quarter. Robecosam AG now owns 73,470 shares of the company’s stock valued at $5,886,000 after buying an additional 390 shares in the last quarter. Euclid Advisors LLC bought a new position in Deere & Co. during the first quarter valued at about $1,170,000. Logan Capital Management Inc. raised its position in Deere & Co. by 1.0% in the first quarter. Logan Capital Management Inc. now owns 26,185 shares of the company’s stock valued at $2,016,000 after buying an additional 250 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. raised its position in Deere & Co. by 3.4% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 94,809 shares of the company’s stock valued at $7,295,000 after buying an additional 3,093 shares in the last quarter. Finally, Squarepoint Ops LLC raised its position in Deere & Co. by 427.8% in the first quarter. Squarepoint Ops LLC now owns 91,982 shares of the company’s stock valued at $7,082,000 after buying an additional 74,553 shares in the last quarter. Institutional investors and hedge funds own 70.56% 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.
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