Deere & Co. (DE) Receives Buy Rating from BMO Capital Markets
Deere & Co. (NYSE:DE)‘s stock had its “buy” rating reissued by investment analysts at BMO Capital Markets in a report released on Wednesday. They presently have a $96.00 target price on the stock. BMO Capital Markets’ target price would indicate a potential upside of 4.34% from the company’s previous close.
DE has been the topic of a number of other research reports. Citigroup Inc. cut their price target on Deere & Co. from $100.00 to $87.00 and set a “buy” rating on the stock in a report on Monday, August 22nd. Barclays PLC lifted their price target on Deere & Co. from $63.00 to $68.00 and gave the company an “underweight” rating in a report on Wednesday, October 12th. Oppenheimer Holdings Inc. cut Deere & Co. from an “outperform” rating to a “market perform” rating in a report on Thursday, October 27th. Credit Suisse Group AG lifted their price target on Deere & Co. from $87.00 to $100.00 and gave the company an “outperform” rating in a report on Monday, August 22nd. Finally, Wells Fargo & Co. raised Deere & Co. from a “market perform” rating to an “outperform” rating in a report on Monday, October 10th. Eight research analysts have rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $84.60.
Deere & Co. (NYSE:DE) traded up 9.72% during midday trading on Wednesday, hitting $100.95. The stock had a trading volume of 10,916,588 shares. The firm has a 50 day moving average price of $88.20 and a 200 day moving average price of $83.88. The stock has a market cap of $31.74 billion, a PE ratio of 20.23 and a beta of 0.71. Deere & Co. has a one year low of $70.16 and a one year high of $101.96.
Deere & Co. (NYSE:DE) last released its quarterly earnings results on Wednesday, November 23rd. The company reported $0.90 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.50. The company had revenue of $6.52 billion for the quarter, compared to analysts’ expectations of $5.38 billion. Deere & Co. had a return on equity of 22.73% and a net margin of 5.92%. The business’s revenue for the quarter was down 4.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.08 earnings per share. Equities analysts expect that Deere & Co. will post $4.32 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, November 1st. Stockholders of record on Friday, September 30th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 2.61%. The ex-dividend date of this dividend was Wednesday, September 28th. Deere & Co.’s dividend payout ratio is currently 48.10%.
Large investors have recently modified their holdings of the company. Babson Capital Management LLC boosted its stake in shares of Deere & Co. by 25.9% in the first quarter. Babson Capital Management LLC now owns 39,831 shares of the company’s stock worth $3,067,000 after buying an additional 8,200 shares in the last quarter. Logan Capital Management Inc. boosted its stake in shares of Deere & Co. by 1.0% in the first quarter. Logan Capital Management Inc. now owns 26,185 shares of the company’s stock worth $2,016,000 after buying an additional 250 shares in the last quarter. Euclid Advisors LLC acquired a new stake in shares of Deere & Co. during the first quarter worth about $1,170,000. Robecosam AG boosted its stake in shares of Deere & Co. by 0.5% in the first quarter. Robecosam AG now owns 73,470 shares of the company’s stock worth $5,886,000 after buying an additional 390 shares in the last quarter. Finally, Lowe Brockenbrough & Co. Inc. boosted its stake in shares of Deere & Co. by 1.2% in the first quarter. Lowe Brockenbrough & Co. Inc. now owns 8,981 shares of the company’s stock worth $691,000 after buying an additional 109 shares in the last quarter. Hedge funds and other institutional investors own 70.14% 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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