Deere &’s (DE) “Buy” Rating Reaffirmed at BMO Capital Markets
BMO Capital Markets restated their buy rating on shares of Deere & Company (NYSE:DE) in a research report report published on Thursday. The firm currently has a $150.00 price target on the industrial products company’s stock.
DE has been the topic of several other reports. Argus restated a buy rating and issued a $140.00 price objective on shares of Deere & in a report on Tuesday, August 22nd. BidaskClub lowered shares of Deere & from a strong-buy rating to a buy rating in a report on Tuesday, July 25th. Zacks Investment Research lowered shares of Deere & from a buy rating to a hold rating in a report on Monday, August 21st. Credit Suisse Group lowered shares of Deere & from a neutral rating to an outperform rating in a report on Tuesday, August 22nd. Finally, Bank of America Corporation lowered shares of Deere & from a buy rating to a neutral rating and set a $145.00 price objective on the stock. in a report on Tuesday, August 15th. Three research analysts have rated the stock with a sell rating, fourteen have given a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus target price of $129.08.
Deere & (NYSE:DE) opened at $135.03 on Thursday. Deere & has a 12-month low of $87.68 and a 12-month high of $135.04. The stock has a market cap of $43,384.72, a P/E ratio of 22.62, a PEG ratio of 2.44 and a beta of 0.73. The company has a debt-to-equity ratio of 2.76, a quick ratio of 1.90 and a current ratio of 2.10.
Deere & (NYSE:DE) last announced its quarterly earnings data on Friday, August 18th. The industrial products company reported $1.97 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.93 by $0.04. Deere & had a net margin of 6.81% and a return on equity of 25.96%. The business had revenue of $6.83 billion for the quarter, compared to analyst estimates of $6.92 billion. During the same period in the prior year, the business posted $1.55 earnings per share. Deere &’s revenue was up 16.6% compared to the same quarter last year. research analysts anticipate that Deere & will post 6.47 EPS for the current fiscal year.
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The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 1st. Investors of record on Friday, September 29th were given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date of this dividend was Thursday, September 28th. Deere &’s dividend payout ratio (DPR) is currently 40.20%.
In related news, insider Pentz Markwart Von sold 22,095 shares of the firm’s stock in a transaction on 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 transaction, the insider now owns 51,626 shares of the company’s stock, valued at $6,200,282.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Max A. Guinn sold 8,551 shares of the firm’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $134.89, for a total transaction of $1,153,444.39. Following the completion of the transaction, the insider now directly owns 50,939 shares of the company’s stock, valued at approximately $6,871,161.71. The disclosure for this sale can be found here. In the last ninety days, insiders sold 129,998 shares of company stock valued at $16,081,377. 0.75% of the stock is owned by insiders.
A number of hedge funds have recently made changes to their positions in DE. Prudential Financial Inc. lifted its stake in Deere & by 51.1% in the first quarter. Prudential Financial Inc. now owns 624,030 shares of the industrial products company’s stock valued at $67,932,000 after acquiring an additional 210,925 shares during the last quarter. Stifel Financial Corp lifted its stake in Deere & by 3.3% in the first quarter. Stifel Financial Corp now owns 175,344 shares of the industrial products company’s stock valued at $19,089,000 after acquiring an additional 5,615 shares during the last quarter. Atlantic Trust Group LLC acquired a new stake in Deere & in the first quarter valued at $1,423,000. Dai Ichi Life Insurance Company Ltd lifted its stake in Deere & by 42.1% in the first quarter. Dai Ichi Life Insurance Company Ltd now owns 21,438 shares of the industrial products company’s stock valued at $2,334,000 after acquiring an additional 6,353 shares during the last quarter. Finally, Arizona State Retirement System lifted its stake in Deere & by 1.5% in the first quarter. Arizona State Retirement System now owns 72,577 shares of the industrial products company’s stock valued at $7,901,000 after acquiring an additional 1,100 shares during the last quarter. Hedge funds and other institutional investors own 66.03% of the company’s stock.
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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