Traders Buy Shares of Deere & Company (DE) on Weakness
Traders bought shares of Deere & Company (NYSE:DE) on weakness during trading hours on Tuesday. $88.15 million flowed into the stock on the tick-up and $58.73 million flowed out of the stock on the tick-down, for a money net flow of $29.42 million into the stock. Of all stocks tracked, Deere & Company had the 11th highest net in-flow for the day. Deere & Company traded down ($1.39) for the day and closed at $167.76
Several equities analysts have recently issued reports on the company. Zacks Investment Research lowered Deere & Company from a “buy” rating to a “hold” rating in a research note on Wednesday, January 23rd. UBS Group started coverage on Deere & Company in a report on Tuesday. They issued a “neutral” rating and a $238.00 price target for the company. Argus increased their price objective on Deere & Company to $175.00 and gave the stock a “buy” rating in a report on Wednesday, February 20th. Bank of America downgraded Deere & Company from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $173.00 to $170.00 in a report on Wednesday, February 13th. Finally, Credit Suisse Group restated a “buy” rating and issued a $211.00 price target on shares of Deere & Company in a research note on Tuesday, January 8th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $179.43.
The company has a debt-to-equity ratio of 2.46, a current ratio of 1.98 and a quick ratio of 1.68. The company has a market cap of $53.84 billion, a P/E ratio of 17.87, a P/E/G ratio of 1.77 and a beta of 0.90.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, March 29th will be issued a dividend of $0.76 per share. The ex-dividend date is Thursday, March 28th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 1.81%. Deere & Company’s dividend payout ratio is currently 32.37%.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Oregon Public Employees Retirement Fund increased its holdings in shares of Deere & Company by 14,550.1% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 5,214,983 shares of the industrial products company’s stock worth $35,000 after buying an additional 5,179,386 shares during the last quarter. Norges Bank purchased a new position in shares of Deere & Company in the fourth quarter worth $582,245,000. Packer & Co Ltd raised its holdings in shares of Deere & Company by 625.9% in the fourth quarter. Packer & Co Ltd now owns 1,239,800 shares of the industrial products company’s stock worth $25,476,000 after buying an additional 1,069,015 shares during the last quarter. Standard Life Aberdeen plc increased its stake in shares of Deere & Company by 532.2% in the third quarter. Standard Life Aberdeen plc now owns 832,656 shares of the industrial products company’s stock worth $125,190,000 after acquiring an additional 700,946 shares during the period. Finally, Morgan Stanley increased its stake in shares of Deere & Company by 56.1% in the third quarter. Morgan Stanley now owns 1,874,873 shares of the industrial products company’s stock worth $281,850,000 after acquiring an additional 674,058 shares during the period. Institutional investors own 68.25% of the company’s stock.
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Deere & Company Company Profile (NYSE:DE)
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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