Deere & Co. (DE) Lifted to “Buy” at TheStreet
Deere & Co. (NYSE:DE) was upgraded by stock analysts at TheStreet from a “hold” rating to a “buy” rating in a report released on Wednesday.
Several other equities research analysts also recently issued reports on DE. JPMorgan Chase & Co. restated an “underweight” rating on shares of Deere & Co. in a research report on Friday, October 21st. RBC Capital Markets assumed coverage on Deere & Co. in a research report on Thursday, November 10th. They set an “outperform” rating on the stock. Royal Bank Of Canada increased their target price on Deere & Co. from $80.00 to $98.00 and gave the stock a “sector perform” rating in a research report on Friday. Oppenheimer Holdings Inc. downgraded Deere & Co. from an “outperform” rating to a “market perform” rating in a research report on Thursday, October 27th. Finally, Macquarie upgraded Deere & Co. from an “underperform” rating to a “neutral” rating in a research report on Friday. Seven analysts have rated the stock with a sell rating, eleven have issued a hold rating and ten have issued a buy rating to the company. Deere & Co. currently has an average rating of “Hold” and an average target price of $86.49.
Shares of Deere & Co. (NYSE:DE) traded up 1.71% during midday trading on Wednesday, reaching $103.92. The company had a trading volume of 6,584,679 shares. Deere & Co. has a one year low of $70.16 and a one year high of $104.83. The company has a 50 day moving average of $89.32 and a 200 day moving average of $84.18. The company has a market capitalization of $32.67 billion, a PE ratio of 20.83 and a beta of 0.71.
Deere & Co. (NYSE:DE) last posted its earnings results on Wednesday, November 23rd. The company reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.50. The firm had revenue of $6.52 billion for 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 4.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.08 EPS. Analysts predict that Deere & Co. will post $4.32 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 1st. Stockholders of record on Friday, September 30th were paid a dividend of $0.60 per share. The ex-dividend date of this dividend was Wednesday, September 28th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.31%. Deere & Co.’s dividend payout ratio (DPR) is currently 48.10%.
TRADEMARK VIOLATION WARNING: “Deere & Co. (DE) Lifted to “Buy” at TheStreet” was first published by The Cerbat Gem and is the propert of of The Cerbat Gem. If you are reading this piece on another site, it was illegally copied and reposted in violation of US & international copyright law. The legal version of this piece can be viewed at https://www.thecerbatgem.com/2016/11/26/deere-co-de-lifted-to-buy-at-thestreet.html.
In other news, insider John C. May II sold 18,614 shares of the firm’s stock in a transaction dated Wednesday, November 23rd. The stock was sold at an average price of $96.46, for a total transaction of $1,795,506.44. Following the transaction, the insider now directly owns 28,926 shares of the company’s stock, valued at $2,790,201.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.75% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. Euclid Advisors LLC acquired a new stake in Deere & Co. during the first quarter valued at about $1,170,000. Lowe Brockenbrough & Co. Inc. boosted its stake in Deere & Co. by 1.2% in the first quarter. Lowe Brockenbrough & Co. Inc. now owns 8,981 shares of the company’s stock valued at $691,000 after buying an additional 109 shares during the last quarter. Summit Financial Wealth Advisors LLC boosted its stake in Deere & Co. by 47.8% in the second quarter. Summit Financial Wealth Advisors LLC now owns 9,870 shares of the company’s stock valued at $800,000 after buying an additional 3,190 shares during the last quarter. Iowa State Bank acquired a new stake in Deere & Co. during the second quarter valued at about $151,000. Finally, First National Bank & Trust Co. of Newtown acquired a new stake in Deere & Co. during the second quarter valued at about $202,000. 70.14% of the stock is currently owned by institutional investors.
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.
Receive News & Stock Ratings for Deere & Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Deere & Co. and related stocks with our FREE daily email newsletter.