Deere & Co. (NYSE:DE) gapped up prior to trading on Friday after TheStreet upgraded the stock from a hold rating to a buy rating. The stock had previously closed at $104.81, but opened at $102.17. Deere & Co. shares last traded at $104.09, with a volume of 6,159,915 shares traded.

Several other research firms have also commented on DE. Robert W. Baird raised Deere & Co. from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $86.00 to $100.00 in a research report on Monday, October 31st. Piper Jaffray Cos. boosted their price target on Deere & Co. from $67.00 to $70.00 and gave the stock an “underweight” rating in a research report on Monday, August 22nd. Mizuho lowered Deere & Co. from a “buy” rating to a “neutral” rating in a research report on Wednesday, November 9th. Longbow Research raised Deere & Co. from an “underperform” rating to a “neutral” rating in a research report on Friday. Finally, Zacks Investment Research lowered Deere & Co. from a “buy” rating to a “hold” rating in a research report on Tuesday, October 25th. Six equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and ten have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $86.49.

In other Deere & Co. news, insider John C. May II sold 18,614 shares of the stock in a transaction that occurred on 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 completion of the transaction, the insider now 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 is available through this hyperlink. Company insiders own 0.75% of the company’s stock.

Several institutional investors have recently made changes to their positions in the stock. Rehmann Capital Advisory Group boosted its stake in Deere & Co. by 0.3% in the second quarter. Rehmann Capital Advisory Group now owns 2,693 shares of the company’s stock valued at $218,000 after buying an additional 8 shares in the last quarter. Signaturefd LLC boosted its stake in Deere & Co. by 1.3% in the second quarter. Signaturefd LLC now owns 1,610 shares of the company’s stock valued at $130,000 after buying an additional 21 shares in the last quarter. FineMark National Bank & Trust boosted its stake in Deere & Co. by 1.8% in the second quarter. FineMark National Bank & Trust now owns 1,451 shares of the company’s stock valued at $118,000 after buying an additional 26 shares in the last quarter. Capital Investment Advisors LLC boosted its stake in Deere & Co. by 0.8% in the third quarter. Capital Investment Advisors LLC now owns 3,317 shares of the company’s stock valued at $283,000 after buying an additional 27 shares in the last quarter. Finally, Pacific Global Investment Management CO boosted its stake in Deere & Co. by 0.3% in the second quarter. Pacific Global Investment Management CO now owns 9,468 shares of the company’s stock valued at $767,000 after buying an additional 31 shares in the last quarter. 70.14% of the stock is owned by institutional investors and hedge funds.

The company has a market capitalization of $32.67 billion, a PE ratio of 20.83 and a beta of 0.71. The company’s 50 day moving average is $89.32 and its 200-day moving average is $84.18.

Deere & Co. (NYSE:DE) last issued its quarterly earnings results on Wednesday, November 23rd. The company reported $0.90 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 21.54% and a net margin of 5.72%. The business’s revenue was down 4.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.08 EPS. Equities analysts forecast 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. Investors of record on Friday, September 30th were given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 2.31%. The ex-dividend date of this dividend was Wednesday, September 28th. Deere & Co.’s dividend payout ratio (DPR) is presently 49.90%.

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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.

5 Day Chart for NYSE:DE

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