Deere & Company (NYSE:DE) Stock Rating Lowered by BidaskClub
BidaskClub lowered shares of Deere & Company (NYSE:DE) from a strong-buy rating to a buy rating in a research report released on Tuesday morning.
Several other brokerages also recently commented on DE. Citigroup Inc. boosted their target price on shares of Deere & from $145.00 to $150.00 and gave the company a buy rating in a research note on Friday, June 9th. Barclays PLC set a $100.00 price target on shares of Deere & and gave the stock a sell rating in a research report on Sunday, June 4th. Jefferies Group LLC reiterated a hold rating and set a $125.00 price target on shares of Deere & in a research report on Thursday, July 6th. Credit Suisse Group set a $151.00 price target on shares of Deere & and gave the stock a buy rating in a research report on Saturday, June 3rd. Finally, J P Morgan Chase & Co upgraded shares of Deere & from an underweight rating to a neutral rating and upped their price target for the stock from $103.00 to $122.00 in a research report on Friday, June 2nd. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and twelve have issued a buy rating to the stock. Deere & presently has a consensus rating of Hold and an average price target of $122.24.
Deere & (DE) traded up 0.37% during mid-day trading on Tuesday, hitting $128.91. 1,261,212 shares of the company were exchanged. Deere & has a 12-month low of $76.73 and a 12-month high of $129.02. The company has a market cap of $41.23 billion, a price-to-earnings ratio of 23.21 and a beta of 0.66. The stock’s 50 day moving average is $125.71 and its 200-day moving average is $115.00.
Deere & (NYSE:DE) last issued its earnings results on Friday, May 19th. The industrial products company reported $2.49 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.70 by $0.79. Deere & had a net margin of 6.52% and a return on equity of 24.85%. The company had revenue of $7.26 billion for the quarter, compared to the consensus estimate of $7.27 billion. During the same quarter in the previous year, the company earned $1.56 EPS. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. Equities research analysts predict that Deere & will post $6.31 EPS for the current year.
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The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 1st. Investors of record on Friday, June 30th will be paid a dividend of $0.60 per share. The ex-dividend date is Wednesday, June 28th. This represents a $2.40 dividend on an annualized basis and a yield of 1.86%. Deere &’s payout ratio is 43.24%.
In related news, insider Cory J. Reed sold 4,936 shares of the stock in a transaction that occurred on Friday, June 16th. The stock was sold at an average price of $128.00, for a total transaction of $631,808.00. Following the completion of the sale, the insider now directly owns 9,903 shares of the company’s stock, valued at approximately $1,267,584. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider John C. May II sold 19,907 shares of the stock in a transaction that occurred on Tuesday, June 6th. The stock was sold at an average price of $125.57, for a total value of $2,499,721.99. Following the sale, the insider now directly owns 49,241 shares of the company’s stock, valued at $6,183,192.37. The disclosure for this sale can be found here. Over the last three months, insiders have sold 105,612 shares of company stock valued at $13,149,023. 0.85% of the stock is owned by company insiders.
Hedge funds have recently bought and sold shares of the company. Quadrature Capital Ltd acquired a new stake in Deere & during the fourth quarter worth about $26,810,000. RMB Capital Management LLC acquired a new stake in Deere & during the fourth quarter worth about $341,000. UBS Asset Management Americas Inc. boosted its stake in Deere & by 5.3% in the fourth quarter. UBS Asset Management Americas Inc. now owns 771,587 shares of the industrial products company’s stock worth $79,503,000 after buying an additional 39,041 shares during the last quarter. USA Financial Portformulas Corp acquired a new stake in Deere & during the fourth quarter worth about $604,000. Finally, Whalerock Point Partners LLC boosted its stake in Deere & by 31.4% in the fourth quarter. Whalerock Point Partners LLC now owns 5,650 shares of the industrial products company’s stock worth $582,000 after buying an additional 1,350 shares during the last quarter. 67.33% of the stock is owned by institutional investors and hedge funds.
About Deere &
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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