Wells Fargo & Co. Reiterates Outperform Rating for Deere & Company (DE)
Deere & Company (NYSE:DE)‘s stock had its “outperform” rating restated by stock analysts at Wells Fargo & Co. in a note issued to investors on Monday. They currently have a $121.50 price target on the stock, up from their previous price target of $101.50. Wells Fargo & Co.’s price objective would suggest a potential upside of 16.92% from the stock’s previous close.
A number of other equities analysts also recently commented on the stock. Robert W. Baird upgraded shares of Deere & Company from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $86.00 to $100.00 in a report on Monday, October 31st. Piper Jaffray Cos. boosted their target price on shares of Deere & Company from $67.00 to $70.00 and gave the stock an “underweight” rating in a report on Monday, August 22nd. Mizuho downgraded shares of Deere & Company from a “buy” rating to a “neutral” rating in a report on Wednesday, November 9th. Longbow Research upgraded shares of Deere & Company from an “underperform” rating to a “neutral” rating in a report on Friday. Finally, Zacks Investment Research lowered Deere & Company from a “buy” rating to a “hold” rating in a research note on Tuesday, October 25th. Six investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and ten have given a buy rating to the stock. Deere & Company currently has a consensus rating of “Hold” and an average target price of $88.24.
Shares of Deere & Company (NYSE:DE) opened at 103.92 on Monday. The stock’s 50 day moving average is $89.32 and its 200 day moving average is $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 cap of $32.67 billion, a price-to-earnings ratio of 20.83 and a beta of 0.71.
Deere & Company (NYSE:DE) last released its quarterly earnings data on Wednesday, November 23rd. The company reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.50. The firm earned $6.52 billion during the quarter. Deere & Company had a return on equity of 21.54% and a net margin of 5.72%. The business’s revenue was down 4.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.08 earnings per share. On average, equities analysts predict that Deere & Company will post $4.32 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, November 1st. Investors 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 yield of 2.31%. The ex-dividend date was Wednesday, September 28th. Deere & Company’s dividend payout ratio (DPR) is 49.90%.
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In related 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 completion of the transaction, the insider now directly owns 28,926 shares in the company, valued at approximately $2,790,201.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.75% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Euclid Advisors LLC bought a new stake in Deere & Company during the first quarter worth about $1,170,000. Summit Financial Wealth Advisors LLC raised its stake in shares of Deere & Company 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 period. Iowa State Bank acquired a new stake in shares of Deere & Company during the second quarter valued at $151,000. First National Bank & Trust Co. of Newtown acquired a new stake in shares of Deere & Company during the second quarter valued at $202,000. Finally, Marshwinds Advisory Co. raised its stake in shares of Deere & Company by 5.7% in the second quarter. Marshwinds Advisory Co. now owns 10,276 shares of the company’s stock valued at $833,000 after buying an additional 550 shares during the period. 71.68% of the stock is currently owned by institutional investors.
About Deere & Company
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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