Deutsche Bank AG Reaffirms Hold Rating for Deere & Company (DE)
Deere & Company (NYSE:DE)‘s stock had its “hold” rating reiterated by stock analysts at Deutsche Bank AG in a report released on Friday. They currently have a $139.00 price objective on the industrial products company’s stock, up from their prior price objective of $135.00. Deutsche Bank AG’s price objective would indicate a potential upside of 9.71% from the stock’s current price.
Several other brokerages have also weighed in on DE. Jefferies Group LLC restated a “hold” rating and issued a $125.00 price objective on shares of Deere & in a report on Wednesday. Goldman Sachs Group, Inc. (The) started coverage on Deere & in a research report on Tuesday. They set a “buy” rating on the stock. BidaskClub lowered Deere & from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Citigroup Inc. upped their price target on Deere & from $145.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, June 9th. Finally, Barclays PLC set a $100.00 price target on Deere & and gave the company a “sell” rating in a research report on Sunday, June 4th. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. Deere & currently has an average rating of “Hold” and a consensus target price of $122.79.
Shares of Deere & (NYSE DE) traded down 0.85% during trading on Friday, hitting $126.70. 2,303,319 shares of the stock were exchanged. The stock has a market cap of $40.53 billion, a PE ratio of 22.81 and a beta of 0.67. The stock’s 50 day moving average price is $126.59 and its 200 day moving average price is $116.50. Deere & has a one year low of $76.73 and a one year high of $132.50.
Deere & (NYSE:DE) last announced its quarterly earnings results on Friday, May 19th. The industrial products company reported $2.49 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.70 by $0.79. Deere & had a return on equity of 24.85% and a net margin of 6.52%. The company had revenue of $7.26 billion during the quarter, compared to analyst estimates of $7.27 billion. During the same quarter in the previous year, the firm posted $1.56 EPS. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. Equities research analysts predict that Deere & will post $6.37 EPS for the current year.
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In other news, CEO Samuel R. Allen sold 62,704 shares of the stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $125.00, for a total transaction of $7,838,000.00. Following the transaction, the chief executive officer now owns 333,492 shares of the company’s stock, valued at approximately $41,686,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Marc A. Howze sold 6,624 shares of the stock in a transaction dated Friday, May 19th. The stock was sold at an average price of $119.59, for a total transaction of $792,164.16. Following the transaction, the vice president now directly owns 9,004 shares in the company, valued at approximately $1,076,788.36. The disclosure for this sale can be found here. Insiders sold 130,988 shares of company stock valued at $16,451,037 over the last 90 days. 0.85% of the stock is currently owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in DE. Carroll Financial Associates Inc. boosted its position in shares of Deere & by 5.1% in the first quarter. Carroll Financial Associates Inc. now owns 1,835 shares of the industrial products company’s stock valued at $199,000 after buying an additional 89 shares during the last quarter. CrestPoint Capital Management LLC purchased a new stake in Deere & during the first quarter valued at approximately $359,000. Capstone Asset Management Co. raised its stake in Deere & by 53.2% in the first quarter. Capstone Asset Management Co. now owns 38,143 shares of the industrial products company’s stock valued at $4,152,000 after buying an additional 13,250 shares during the period. TNB Financial purchased a new stake in Deere & during the first quarter valued at approximately $291,000. Finally, Private Trust Co. NA purchased a new stake in Deere & during the first quarter valued at approximately $209,000. 67.35% of the stock is currently owned by institutional investors.
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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