Deere & Company (DE) Earns Sector Perform Rating from RBC Capital Markets
Deere & Company (NYSE:DE)‘s stock had its “sector perform” rating reaffirmed by RBC Capital Markets in a report issued on Friday. They presently have a $98.00 price target on the stock, up from their previous price target of $80.00. RBC Capital Markets’ price target would suggest a potential downside of 5.70% from the company’s current price.
A number of other analysts also recently issued reports on DE. JPMorgan Chase & Co. reissued an “underweight” rating on shares of Deere & Company in a research report on Friday, October 21st. Royal Bank Of Canada increased their target price on shares of Deere & Company from $80.00 to $98.00 and gave the stock a “sector perform” rating in a research report on Friday. Oppenheimer Holdings Inc. downgraded shares of Deere & Company from an “outperform” rating to a “market perform” rating in a research report on Thursday, October 27th. BMO Capital Markets reissued an “outperform” rating and set a $96.00 target price on shares of Deere & Company in a research report on Thursday, August 18th. Finally, Jefferies Group reissued a “hold” rating and set a $70.00 target price on shares of Deere & Company in a research report on Friday, August 19th. Five investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $88.74.
Deere & Company (NYSE:DE) traded down 0.467% during mid-day trading on Friday, reaching $103.435. 817,712 shares of the company’s stock were exchanged. The company has a market capitalization of $32.52 billion, a P/E ratio of 20.728 and a beta of 0.71. Deere & Company has a 52 week low of $70.16 and a 52 week high of $104.83. The company’s 50 day moving average price is $89.32 and its 200-day moving average price is $84.18.
Deere & Company (NYSE:DE) last posted its quarterly earnings data on Wednesday, November 23rd. The company reported $0.90 EPS for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.50. Deere & Company had a net margin of 5.72% and a return on equity of 21.54%. The company earned $6.52 billion during the quarter. During the same period in the prior year, the company earned $1.08 EPS. The company’s revenue was down 4.8% compared to the same quarter last year. On average, equities research analysts expect that Deere & Company will post $4.32 earnings per share for the current fiscal year.
The firm 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 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date of this dividend was Wednesday, September 28th. Deere & Company’s dividend payout ratio (DPR) is 49.90%.
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In other news, insider John C. May II sold 18,614 shares of the firm’s stock in a transaction 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 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 filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.75% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. D.A. Davidson & CO. raised its position in shares of Deere & Company by 21.3% in the third quarter. D.A. Davidson & CO. now owns 167,901 shares of the company’s stock worth $14,328,000 after buying an additional 29,514 shares during the period. Whalerock Point Partners LLC purchased a new position in shares of Deere & Company during the third quarter valued at $367,000. Piedmont Investment Advisors LLC purchased a new position in shares of Deere & Company during the third quarter valued at $9,379,000. Quantitative Systematic Strategies LLC purchased a new position in shares of Deere & Company during the third quarter valued at $590,000. Finally, OLD Republic International Corp boosted its position in shares of Deere & Company by 19.4% in the third quarter. OLD Republic International Corp now owns 394,040 shares of the company’s stock valued at $30,690,000 after buying an additional 64,000 shares in the last quarter. 71.68% of the stock is currently owned by 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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