Deutsche Bank AG Reaffirms Hold Rating for Deere & Company (DE)
Deutsche Bank AG reiterated their hold rating on shares of Deere & Company (NYSE:DE) in a research report sent to investors on Monday. They currently have a $129.00 target price on the industrial products company’s stock, down from their previous target price of $135.00.
DE has been the subject of several other reports. ValuEngine raised Deere & from a hold rating to a buy rating in a research report on Friday, September 1st. Jefferies Group LLC reaffirmed a hold rating and issued a $125.00 target price on shares of Deere & in a research report on Wednesday, August 9th. Goldman Sachs Group, Inc. (The) reaffirmed a buy rating on shares of Deere & in a research report on Sunday, August 20th. Credit Suisse Group cut Deere & from a neutral rating to an outperform rating in a research report on Tuesday, August 22nd. Finally, BidaskClub cut Deere & from a hold rating to a sell rating in a research report on Saturday, August 26th. Three investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and ten have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $127.97.
Shares of Deere & (NYSE DE) opened at 128.50 on Monday. The firm’s 50-day moving average is $121.55 and its 200 day moving average is $120.42. Deere & has a 1-year low of $85.27 and a 1-year high of $132.50. The company has a market cap of $41.29 billion, a price-to-earnings ratio of 21.34 and a beta of 0.69.
Deere & (NYSE:DE) last issued its earnings results on Friday, August 18th. The industrial products company reported $1.97 EPS for the quarter, topping the consensus estimate of $1.93 by $0.04. The firm had revenue of $6.83 billion during the quarter, compared to analysts’ expectations of $6.92 billion. Deere & had a return on equity of 25.96% and a net margin of 6.81%. Deere &’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same period last year, the business earned $1.55 earnings per share. Equities analysts expect that Deere & will post $6.52 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Friday, September 29th will be given a $0.60 dividend. The ex-dividend date is Thursday, September 28th. This represents a $2.40 dividend on an annualized basis and a yield of 1.87%. Deere &’s payout ratio is 40.20%.
In related news, insider Max A. Guinn sold 5,000 shares of Deere & 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jean H. Gilles sold 8,015 shares of Deere & stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $129.99, for a total value of $1,041,869.85. Following the completion of the sale, the insider now owns 70,635 shares of the company’s stock, valued at $9,181,843.65. The disclosure for this sale can be found here. Over the last quarter, insiders sold 116,023 shares of company stock valued at $14,185,962. Corporate insiders own 0.85% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. QCI Asset Management Inc. NY grew its position in shares of Deere & by 18.8% during the 2nd quarter. QCI Asset Management Inc. NY now owns 950 shares of the industrial products company’s stock worth $117,000 after buying an additional 150 shares during the period. Guardian Life Insurance Co. of America grew its position in shares of Deere & by 1.4% during the 1st quarter. Guardian Life Insurance Co. of America now owns 1,132 shares of the industrial products company’s stock worth $123,000 after buying an additional 16 shares during the period. Arrow Financial Corp grew its position in shares of Deere & by 5.2% during the 2nd quarter. Arrow Financial Corp now owns 1,010 shares of the industrial products company’s stock worth $125,000 after buying an additional 50 shares during the period. Harfst & Associates Inc. grew its position in shares of Deere & by 44.2% during the 2nd quarter. Harfst & Associates Inc. now owns 1,175 shares of the industrial products company’s stock worth $145,000 after buying an additional 360 shares during the period. Finally, Endurance Wealth Management Inc. grew its position in shares of Deere & by 2.2% during the 1st quarter. Endurance Wealth Management Inc. now owns 1,404 shares of the industrial products company’s stock worth $153,000 after buying an additional 30 shares during the period. Hedge funds and other institutional investors own 66.17% 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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