Deere & Company (NYSE:DE) Earns Buy Rating from Barclays
Barclays reissued their buy rating on shares of Deere & Company (NYSE:DE) in a report issued on Monday, AnalystRatings.com reports. They currently have a $167.00 price objective on the industrial products company’s stock.
Several other equities research analysts have also recently commented on DE. Wells Fargo & Co reissued a buy rating and issued a $85.00 price target on shares of Carvana in a research note on Monday, July 1st. Zacks Investment Research raised Hope Bancorp from a sell rating to a hold rating in a research note on Wednesday, April 17th. Citigroup set a $6.00 target price on Solid Biosciences and gave the stock a hold rating in a report on Thursday, May 16th. Stifel Nicolaus set a $73.00 target price on Expeditors International of Washington and gave the stock a hold rating in a report on Monday, May 20th. Finally, Bank of America set a $68.00 target price on Inphi and gave the stock a buy rating in a report on Monday. Two analysts have rated the stock with a sell rating, eight have given a hold rating and thirteen have issued a buy rating to the company. The stock has a consensus rating of Hold and an average price target of $168.61.
Shares of NYSE DE opened at $163.08 on Monday. The company has a market cap of $52.62 billion, a PE ratio of 17.37, a price-to-earnings-growth ratio of 1.58 and a beta of 1.12. The firm has a 50 day moving average price of $157.20. Deere & Company has a 52 week low of $128.32 and a 52 week high of $169.99. The company has a current ratio of 1.94, a quick ratio of 1.66 and a debt-to-equity ratio of 2.37.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Friday, June 28th will be given a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date of this dividend is Thursday, June 27th. Deere & Company’s dividend payout ratio is presently 32.37%.
In other news, COO John C. May II sold 16,468 shares of the business’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $163.21, for a total transaction of $2,687,742.28. Following the sale, the chief operating officer now directly owns 60,550 shares in the company, valued at $9,882,365.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.71% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Private Ocean LLC increased its position in shares of Deere & Company by 560.0% during the first quarter. Private Ocean LLC now owns 198 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 168 shares during the period. Ellis Investment Partners LLC bought a new stake in Deere & Company in the first quarter valued at $33,000. Orrstown Financial Services Inc. grew its position in Deere & Company by 116.0% in the second quarter. Orrstown Financial Services Inc. now owns 216 shares of the industrial products company’s stock valued at $36,000 after acquiring an additional 116 shares during the period. Field & Main Bank bought a new stake in Deere & Company in the first quarter valued at $40,000. Finally, Vestor Capital LLC bought a new stake in Deere & Company in the fourth quarter valued at $45,000. Institutional investors and hedge funds own 68.00% of the company’s stock.
About Deere & Company
Deere & Company manufactures and distributes various equipment worldwide. The company operates through three segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment offers agriculture and turf equipment, and related parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; and tillage, seeding, and application equipment.
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