Deere & Company (DE) Earns “Buy” Rating from Stifel Nicolaus
Deere & Company (NYSE:DE)‘s stock had its “buy” rating reissued by equities researchers at Stifel Nicolaus in a research note issued to investors on Wednesday, Marketbeat.com reports. They currently have a $184.00 price target on the industrial products company’s stock, up from their prior price target of $161.00. Stifel Nicolaus’ target price suggests a potential upside of 8.03% from the stock’s current price.
A number of other analysts have also recently weighed in on the company. Citigroup boosted their price target on Deere & Company from $165.00 to $200.00 and gave the stock a “buy” rating in a research report on Tuesday. Robert W. Baird reaffirmed a “buy” rating and issued a $185.00 price target on shares of Deere & Company in a research report on Friday, January 12th. Barclays raised Deere & Company from a “sector perform” rating to an “outperform” rating and set a $171.00 price target for the company in a research report on Wednesday, January 10th. Wells Fargo & Co reaffirmed an “outperform” rating and issued a $200.00 price target (up previously from $170.00) on shares of Deere & Company in a research report on Wednesday, January 10th. Finally, Royal Bank of Canada raised Deere & Company from a “sector perform” rating to an “outperform” rating and reduced their price target for the stock from $190.00 to $155.00 in a research report on Wednesday, January 10th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and fourteen have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $149.78.
Deere & Company (NYSE DE) traded up $2.42 on Wednesday, reaching $170.32. The company had a trading volume of 1,612,861 shares, compared to its average volume of 2,000,000. The firm has a market capitalization of $54,720.00, a PE ratio of 25.61, a price-to-earnings-growth ratio of 2.51 and a beta of 0.77. Deere & Company has a 52-week low of $104.92 and a 52-week high of $170.73. The company has a current ratio of 2.12, a quick ratio of 1.95 and a debt-to-equity ratio of 2.71.
In related news, VP Mary K.W. Jones sold 34,136 shares of the business’s stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $124.72, for a total transaction of $4,257,441.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Rajesh Kalathur sold 4,519 shares of the business’s stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $148.92, for a total value of $672,969.48. Following the transaction, the chief financial officer now directly owns 36,288 shares of the company’s stock, valued at approximately $5,404,008.96. The disclosure for this sale can be found here. Insiders have sold a total of 246,097 shares of company stock valued at $35,868,394 in the last three months. 0.85% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of DE. Wealthcare Advisory Partners LLC bought a new position in Deere & Company during the third quarter valued at about $144,000. Harfst & Associates Inc. increased its stake in Deere & Company by 44.2% during the second quarter. Harfst & Associates Inc. now owns 1,175 shares of the industrial products company’s stock valued at $145,000 after acquiring an additional 360 shares during the period. YorkBridge Wealth Partners LLC increased its stake in Deere & Company by 1.1% during the second quarter. YorkBridge Wealth Partners LLC now owns 1,236 shares of the industrial products company’s stock valued at $154,000 after acquiring an additional 13 shares during the period. San Francisco Sentry Investment Group CA bought a new position in Deere & Company during the second quarter valued at about $155,000. Finally, Moisand Fitzgerald Tamayo LLC bought a new position in Deere & Company during the third quarter valued at about $158,000. Hedge funds and other institutional investors own 67.37% of the company’s stock.
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About Deere & Company
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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