Deere & Company (DE) Given New $98.00 Price Target at Royal Bank Of Canada
Deere & Company (NYSE:DE) had its price objective boosted by Royal Bank Of Canada from $80.00 to $98.00 in a research note released on Friday. The brokerage currently has a sector perform rating on the stock.
DE has been the topic of several other reports. Citigroup Inc. reduced their target price on Deere & Company from $100.00 to $87.00 and set a buy rating on the stock in a research note on Monday, August 22nd. Barclays PLC boosted their target price on Deere & Company from $63.00 to $68.00 and gave the company an underweight rating in a research note on Wednesday, October 12th. Oppenheimer Holdings Inc. cut Deere & Company from an outperform rating to a market perform rating in a research note on Thursday, October 27th. Credit Suisse Group AG boosted their target price on Deere & Company from $87.00 to $100.00 and gave the company an outperform rating in a research note on Monday, August 22nd. Finally, Wells Fargo & Co. raised Deere & Company from a market perform rating to an outperform rating in a research note on Monday, October 10th. Five research analysts have rated the stock with a sell rating, twelve have issued a hold rating and ten have given a buy rating to the stock. Deere & Company has an average rating of Hold and an average price target of $88.24.
Shares of Deere & Company (NYSE:DE) opened at 103.92 on Friday. The company has a 50-day moving average price of $89.32 and a 200-day moving average price of $84.18. Deere & Company has a 52-week low of $70.16 and a 52-week high of $104.83. The stock has a market capitalization of $32.67 billion, a price-to-earnings ratio of 20.83 and a beta of 0.71.
Deere & Company (NYSE:DE) last posted its 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. Deere & Company had a return on equity of 21.54% and a net margin of 5.72%. The firm had revenue of $6.52 billion for the quarter. During the same period last year, the firm posted $1.08 earnings per share. Deere & Company’s quarterly revenue was down 4.8% on a year-over-year basis. On average, equities analysts anticipate that Deere & Company will post $4.32 earnings per share for the current year.
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The business also recently declared a quarterly dividend, which was paid on Tuesday, November 1st. Shareholders of record on Friday, September 30th were given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date was Wednesday, September 28th. Deere & Company’s payout ratio is 49.90%.
In other Deere & Company news, insider John C. May II sold 18,614 shares of the company’s stock in a transaction dated Wednesday, November 23rd. The stock was sold at an average price of $96.46, for a total value of $1,795,506.44. Following the completion of the sale, the insider now owns 28,926 shares in the company, valued at $2,790,201.96. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.75% of the stock is owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in DE. Hartford Financial Management Inc. raised its position in Deere & Company by 5.2% in the third quarter. Hartford Financial Management Inc. now owns 1,210 shares of the company’s stock worth $103,000 after buying an additional 60 shares during the period. Jolley Asset Management LLC raised its position in Deere & Company by 14.0% in the third quarter. Jolley Asset Management LLC now owns 1,225 shares of the company’s stock worth $105,000 after buying an additional 150 shares during the period. CWM LLC raised its position in Deere & Company by 94.6% in the third quarter. CWM LLC now owns 1,234 shares of the company’s stock worth $105,000 after buying an additional 600 shares during the period. Washington Trust Bank raised its position in Deere & Company by 59.0% in the second quarter. Washington Trust Bank now owns 1,240 shares of the company’s stock worth $100,000 after buying an additional 460 shares during the period. Finally, Cornerstone Advisors Inc. raised its position in Deere & Company by 6.0% in the third quarter. Cornerstone Advisors Inc. now owns 1,268 shares of the company’s stock worth $108,000 after buying an additional 72 shares during the period. 71.68% of the stock is owned by hedge funds and other institutional investors.
Deere & Company 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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