Deere & Company (DE) Cut to Hold at BidaskClub
BidaskClub cut shares of Deere & Company (NYSE:DE) from a buy rating to a hold rating in a report published on Friday.
DE has been the topic of several other reports. Credit Suisse Group set a $132.00 price objective on shares of Deere & and gave the company a buy rating in a report on Saturday, May 20th. Stifel Nicolaus lifted their price target on shares of Deere & from $126.00 to $135.00 and gave the stock a buy rating in a report on Monday, May 22nd. J P Morgan Chase & Co raised shares of Deere & from an underweight rating to a neutral rating and lifted their price target for the stock from $103.00 to $122.00 in a report on Friday, June 2nd. Bank of America Corporation lowered shares of Deere & from a buy rating to a neutral rating and set a $145.00 price target on the stock. in a report on Tuesday, August 15th. Finally, Jefferies Group LLC reaffirmed a hold rating and issued a $105.00 price target on shares of Deere & in a report on Wednesday, May 31st. Three investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and ten have given a buy rating to the company. Deere & currently has a consensus rating of Hold and an average price target of $123.12.
Shares of Deere & (DE) opened at 117.31 on Friday. The stock has a market cap of $37.63 billion, a P/E ratio of 19.48 and a beta of 0.67. The company has a 50 day moving average price of $126.94 and a 200 day moving average price of $117.25. Deere & has a 1-year low of $79.37 and a 1-year high of $132.50.
Deere & (NYSE:DE) last issued its quarterly earnings data on Friday, August 18th. The industrial products company reported $1.97 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.93 by $0.04. The company had revenue of $6.83 billion for the quarter, compared to analyst estimates of $6.92 billion. Deere & had a net margin of 6.81% and a return on equity of 25.96%. Deere &’s revenue was up 16.6% compared to the same quarter last year. During the same period last year, the company posted $1.55 earnings per share. On average, equities analysts anticipate that Deere & will post $6.42 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Friday, June 30th were given a dividend of $0.60 per share. The ex-dividend date was Wednesday, June 28th. This represents a $2.40 dividend on an annualized basis and a yield of 2.05%. Deere &’s dividend payout ratio is presently 40.20%.
In other Deere & news, insider Jean H. Gilles sold 8,015 shares of the company’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $129.99, for a total value of $1,041,869.85. Following the completion of the transaction, the insider now owns 70,635 shares in the company, valued at $9,181,843.65. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Max A. Guinn sold 5,000 shares of the company’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $130.89, for a total transaction of $654,450.00. The disclosure for this sale can be found here. Insiders have sold 118,524 shares of company stock valued at $14,960,467 over the last 90 days. 0.75% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. V Wealth Management LLC increased its position in shares of Deere & by 3.1% in the first quarter. V Wealth Management LLC now owns 5,432 shares of the industrial products company’s stock worth $590,000 after buying an additional 164 shares during the period. James Investment Research Inc. increased its position in shares of Deere & by 4.8% in the first quarter. James Investment Research Inc. now owns 330,429 shares of the industrial products company’s stock worth $35,971,000 after buying an additional 15,237 shares during the period. Douglas Lane & Associates LLC purchased a new position in shares of Deere & during the first quarter worth $202,000. Retirement Systems of Alabama increased its position in shares of Deere & by 0.4% in the first quarter. Retirement Systems of Alabama now owns 141,662 shares of the industrial products company’s stock worth $15,421,000 after buying an additional 547 shares during the period. Finally, Windward Capital Management Co. CA increased its position in shares of Deere & by 8.9% in the first quarter. Windward Capital Management Co. CA now owns 6,977 shares of the industrial products company’s stock worth $760,000 after buying an additional 572 shares during the period. Institutional investors and hedge funds own 67.91% of the company’s stock.
Deere & Company Profile
Deere & Company is engaged in equipment operations. The Company is engaged in providing financial services. The Company operates through three business segments: agriculture and turf, construction and forestry, and financial services. The agriculture and turf segment manufactures and distributes a line of agriculture and turf equipment and related service parts.
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