Deere & Company (DE) Receives $126.46 Average Price Target from Brokerages
Deere & Company (NYSE:DE) has received an average recommendation of “Hold” from the thirty brokerages that are currently covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and ten have given a buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $126.46.
Several analysts have recently issued reports on DE shares. ValuEngine upgraded Deere & from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Jefferies Group LLC restated a “hold” rating and issued a $125.00 price objective on shares of Deere & in a research report on Wednesday, August 9th. Deutsche Bank AG restated a “hold” rating and issued a $139.00 price objective (up from $135.00) on shares of Deere & in a research report on Friday, August 11th. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating on shares of Deere & in a research report on Sunday, August 20th. Finally, Credit Suisse Group downgraded Deere & from a “neutral” rating to an “outperform” rating in a research report on Tuesday, August 22nd.
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Shares of Deere & (NYSE DE) traded up 0.71% during mid-day trading on Friday, hitting $123.95. The company’s stock had a trading volume of 2,163,692 shares. Deere & has a 12-month low of $82.33 and a 12-month high of $132.50. The stock has a 50-day moving average of $121.41 and a 200-day moving average of $118.58. The company has a market cap of $39.82 billion, a PE ratio of 20.59 and a beta of 0.70. Deere & also was the target of some unusual options trading on Monday. Stock investors purchased 731 call options on the stock. This represents an increase of 255% compared to the average volume of 206 call options.
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. Deere & had a return on equity of 25.96% and a net margin of 6.81%. The business had revenue of $6.83 billion for the quarter, compared to the consensus estimate of $6.92 billion. During the same period in the prior year, the business earned $1.55 earnings per share. The business’s revenue was up 16.6% on a year-over-year basis. On average, equities research analysts forecast that Deere & will post $6.52 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Friday, September 29th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.94%. Deere &’s dividend payout ratio (DPR) is currently 40.20%.
In other news, insider Max A. Guinn sold 5,000 shares of the stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $130.89, for a total value of $654,450.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Pentz Markwart Von sold 22,095 shares of the stock in a transaction dated Tuesday, September 19th. The shares were sold at an average price of $120.10, for a total value of $2,653,609.50. Following the completion of the sale, the insider now owns 51,626 shares of the company’s stock, valued at approximately $6,200,282.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 93,928 shares of company stock valued at $11,379,013. Insiders own 0.75% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. MPS Loria Financial Planners LLC acquired a new stake in shares of Deere & in the second quarter valued at about $369,000. Achmea Investment Management B.V. boosted its holdings in Deere & by 175.7% in the second quarter. Achmea Investment Management B.V. now owns 28,303 shares of the industrial products company’s stock valued at $3,496,000 after purchasing an additional 18,036 shares during the last quarter. Toronto Dominion Bank boosted its holdings in Deere & by 25.3% in the second quarter. Toronto Dominion Bank now owns 101,897 shares of the industrial products company’s stock valued at $12,591,000 after purchasing an additional 20,596 shares during the last quarter. Cookson Peirce & Co. Inc. purchased a new position in Deere & in the second quarter valued at about $832,000. Finally, Advisory Services Network LLC boosted its holdings in Deere & by 50.9% in the second quarter. Advisory Services Network LLC now owns 4,818 shares of the industrial products company’s stock valued at $596,000 after purchasing an additional 1,626 shares during the last quarter. Institutional investors and hedge funds own 66.20% 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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