Deere & Company (NYSE:DE) Given Hold Rating at Jefferies Group LLC

Jefferies Group LLC reiterated their hold rating on shares of Deere & Company (NYSE:DE) in a research report released on Thursday morning. Jefferies Group LLC currently has a $125.00 price objective on the industrial products company’s stock.

A number of other brokerages have also weighed in on DE. BidaskClub lowered shares of Deere & Company from a buy rating to a hold rating in a research note on Wednesday, June 28th. Barclays PLC upped their price target on shares of Deere & Company from $82.00 to $90.00 and gave the stock a sell rating in a research note on Monday, May 22nd. Credit Suisse Group set a $132.00 price target on shares of Deere & Company and gave the stock a buy rating in a research note on Wednesday, April 12th. BMO Capital Markets upped their price target on shares of Deere & Company from $128.00 to $140.00 and gave the stock an outperform rating in a research note on Tuesday, May 30th. Finally, Stifel Nicolaus began coverage on shares of Deere & Company in a research note on Monday, April 10th. They issued a buy rating and a $126.00 price target for the company. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus price target of $122.25.

Deere & Company (NYSE DE) traded down 1.27% during trading on Thursday, hitting $126.43. The company’s stock had a trading volume of 1,108,445 shares. The firm has a market cap of $40.44 billion, a PE ratio of 22.76 and a beta of 0.66. The company has a 50-day moving average of $122.43 and a 200 day moving average of $111.76. Deere & Company has a one year low of $76.73 and a one year high of $129.00. Deere & Company also was the recipient of unusually large options trading activity on Monday. Stock traders purchased 731 call options on the stock. This is an increase of approximately 255% compared to the average volume of 206 call options.

Deere & Company (NYSE:DE) last posted its earnings results on Friday, May 19th. The industrial products company reported $2.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.70 by $0.79. The firm had revenue of $7.26 billion during the quarter, compared to analyst estimates of $7.27 billion. Deere & Company had a net margin of 6.52% and a return on equity of 24.85%. Deere & Company’s revenue was up 2.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.56 EPS. On average, equities analysts forecast that Deere & Company will post $6.29 earnings per share for the current year.

ILLEGAL ACTIVITY NOTICE: “Deere & Company (NYSE:DE) Given Hold Rating at Jefferies Group LLC” was published by Markets Daily and is the property of of Markets Daily. If you are reading this piece on another publication, it was copied illegally and republished in violation of U.S. & international trademark and copyright legislation. The legal version of this piece can be viewed at https://www.themarketsdaily.com/2017/07/12/deere-company-nysede-given-hold-rating-at-jefferies-group-llc.html.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 1st. Shareholders of record on Friday, June 30th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 1.87%. The ex-dividend date of this dividend is Wednesday, June 28th. Deere & Company’s dividend payout ratio is 43.24%.

In related news, insider Cory J. Reed sold 4,936 shares of the company’s stock in a transaction on Friday, June 16th. The shares were 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 legal filing with the SEC, which is available through this link. Also, VP Marc A. Howze sold 6,624 shares of the company’s stock in a transaction on Friday, May 19th. The stock was sold at an average price of $119.59, for a total transaction of $792,164.16. Following the sale, the vice president now directly owns 9,004 shares of the company’s stock, valued at $1,076,788.36. The disclosure for this sale can be found here. Insiders sold 105,612 shares of company stock valued at $13,149,023 over the last three months. Insiders own 0.75% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. increased its stake in Deere & Company by 2,432.6% in the first quarter. BlackRock Inc. now owns 16,715,452 shares of the industrial products company’s stock valued at $1,819,643,000 after buying an additional 16,055,453 shares in the last quarter. Norges Bank bought a new stake in shares of Deere & Company during the fourth quarter worth $223,422,000. Vanguard Group Inc. increased its stake in shares of Deere & Company by 8.2% in the first quarter. Vanguard Group Inc. now owns 20,440,278 shares of the industrial products company’s stock worth $2,225,128,000 after buying an additional 1,541,004 shares during the period. SG Americas Securities LLC increased its stake in shares of Deere & Company by 107.6% in the first quarter. SG Americas Securities LLC now owns 44,868 shares of the industrial products company’s stock worth $4,884,000 after buying an additional 631,378 shares during the period. Finally, First Eagle Investment Management LLC increased its stake in shares of Deere & Company by 5.1% in the first quarter. First Eagle Investment Management LLC now owns 6,652,623 shares of the industrial products company’s stock worth $724,205,000 after buying an additional 322,158 shares during the period. 67.35% of the stock is owned by institutional investors and hedge funds.

Deere & Company 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.

Analyst Recommendations for Deere & Company (NYSE:DE)

Receive News & Ratings for Deere & Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Deere & Company and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply