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.
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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.
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