Deere & Co.’s (DE) “Hold” Rating Reaffirmed at Jefferies Group
Jefferies Group restated their hold rating on shares of Deere & Co. (NYSE:DE) in a report published on Monday. They currently have a $95.00 price objective on the stock, up from their prior price objective of $85.00.
A number of other equities research analysts also recently issued reports on DE. JPMorgan Chase & Co. reiterated an underweight rating on shares of Deere & Co. in a research note on Friday, October 21st. RBC Capital Markets began coverage on shares of Deere & Co. in a research note on Thursday, November 10th. They set an outperform rating on the stock. Royal Bank Of Canada increased their price objective on shares of Deere & Co. from $80.00 to $98.00 and gave the stock a sector perform rating in a research note on Friday. Piper Jaffray Cos. upgraded shares of Deere & Co. from an underweight rating to a neutral rating and increased their price objective for the stock from $70.00 to $100.00 in a research note on Monday. Finally, Oppenheimer Holdings Inc. downgraded shares of Deere & Co. from an outperform rating to a market perform rating in a research note on Thursday, October 27th. Five analysts have rated the stock with a sell rating, twelve have issued a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $90.24.
Shares of Deere & Co. (NYSE:DE) opened at 101.70 on Monday. Deere & Co. has a 1-year low of $70.16 and a 1-year high of $104.83. The company’s 50 day moving average is $89.76 and its 200-day moving average is $84.31. The company has a market capitalization of $31.98 billion, a P/E ratio of 20.38 and a beta of 0.71.
Deere & Co. (NYSE:DE) last announced its quarterly earnings data on Wednesday, November 23rd. The company reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.50. The firm had revenue of $6.52 billion for the quarter. Deere & Co. had a net margin of 5.72% and a return on equity of 21.54%. The company’s quarterly revenue was down 4.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.08 earnings per share. On average, equities research analysts forecast that Deere & Co. will post $4.32 EPS for the current year.
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The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 1st. Shareholders of record on Friday, September 30th were paid a dividend of $0.60 per share. The ex-dividend date was Wednesday, September 28th. This represents a $2.40 dividend on an annualized basis and a yield of 2.36%. Deere & Co.’s dividend payout ratio (DPR) is presently 49.90%.
In other Deere & Co. news, insider John C. May II sold 18,614 shares of Deere & Co. stock in a transaction on Wednesday, November 23rd. The shares were 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 approximately $2,790,201.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Max A. Guinn sold 36,402 shares of Deere & Co. stock in a transaction on Friday, November 25th. The stock was sold at an average price of $102.94, for a total transaction of $3,747,221.88. Following the transaction, the insider now directly owns 55,427 shares in the company, valued at $5,705,655.38. The disclosure for this sale can be found here. Company insiders own 0.75% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the company. FMR LLC increased its position in Deere & Co. by 37.2% in the second quarter. FMR LLC now owns 9,139,259 shares of the company’s stock worth $740,647,000 after buying an additional 2,477,175 shares in the last quarter. First Eagle Investment Management LLC increased its position in Deere & Co. by 20.4% in the third quarter. First Eagle Investment Management LLC now owns 6,325,129 shares of the company’s stock worth $539,850,000 after buying an additional 1,072,390 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. increased its position in Deere & Co. by 1,983.4% in the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 1,005,965 shares of the company’s stock worth $85,859,000 after buying an additional 957,680 shares in the last quarter. Generation Investment Management LLP increased its position in Deere & Co. by 12.8% in the third quarter. Generation Investment Management LLP now owns 6,838,253 shares of the company’s stock worth $583,645,000 after buying an additional 775,827 shares in the last quarter. Finally, Mackenzie Financial Corp increased its position in Deere & Co. by 5,429.8% in the second quarter. Mackenzie Financial Corp now owns 764,161 shares of the company’s stock worth $61,928,000 after buying an additional 750,342 shares in the last quarter. 71.68% of the stock is currently owned by hedge funds and other institutional investors.
About Deere & Co.
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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