Deere & Co. (NYSE:DE) had its price target increased by equities researchers at RBC Capital Markets from $80.00 to $98.00 in a research report issued on Friday. The brokerage presently has a “sector perform” rating on the stock. RBC Capital Markets’ price target points to a potential downside of 4.08% from the stock’s current price.
Several other analysts have also weighed in on the company. Vetr upgraded Deere & Co. from a “hold” rating to a “buy” rating and set a $80.57 price target on the stock in a report on Monday, August 15th. Wells Fargo & Co. upgraded Deere & Co. from a “market perform” rating to an “outperform” rating in a research note on Monday, October 10th. Piper Jaffray Cos. reiterated an “underweight” rating and issued a $70.00 target price on shares of Deere & Co. in a research note on Tuesday, August 30th. TheStreet lowered Deere & Co. from a “buy” rating to a “hold” rating in a research note on Monday, October 3rd. Finally, Clarkson Capital upgraded Deere & Co. from a “neutral” rating to a “buy” rating in a research note on Tuesday, October 18th. Seven equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and nine have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $86.49.
Shares of Deere & Co. (NYSE:DE) opened at 102.17 on Friday. Deere & Co. has a one year low of $70.16 and a one year high of $102.50. The stock’s 50 day moving average is $88.69 and its 200-day moving average is $84.01. The company has a market cap of $32.12 billion, a PE ratio of 20.47 and a beta of 0.71.
Deere & Co. (NYSE:DE) last issued its quarterly earnings data on Wednesday, November 23rd. The company reported $0.90 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.50. The business had revenue of $6.52 billion for the quarter. Deere & Co. had a return on equity of 22.73% and a net margin of 5.92%. The firm’s revenue was down 4.8% on a year-over-year basis. During the same period last year, the company earned $1.08 earnings per share. Equities research analysts expect that Deere & Co. will post $4.32 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 1st. Shareholders of record on Friday, September 30th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 2.35%. The ex-dividend date was Wednesday, September 28th. Deere & Co.’s payout ratio is currently 48.10%.
In other Deere & Co. news, insider John C. May II sold 18,614 shares of the firm’s stock in a transaction that occurred on Wednesday, November 23rd. The stock was sold at an average price of $96.46, for a total value of $1,795,506.44. Following the sale, the insider now directly owns 28,926 shares of the company’s stock, valued at $2,790,201.96. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.75% of the stock is owned by company insiders.
A number of hedge funds have recently modified their holdings of the stock. Euclid Advisors LLC acquired a new stake in shares of Deere & Co. during the first quarter valued at approximately $1,170,000. Lowe Brockenbrough & Co. Inc. raised its stake in shares of Deere & Co. by 1.2% in the first quarter. Lowe Brockenbrough & Co. Inc. now owns 8,981 shares of the company’s stock worth $691,000 after buying an additional 109 shares in the last quarter. Summit Financial Wealth Advisors LLC raised its stake in shares of Deere & Co. by 47.8% in the second quarter. Summit Financial Wealth Advisors LLC now owns 9,870 shares of the company’s stock worth $800,000 after buying an additional 3,190 shares in the last quarter. Iowa State Bank purchased a new stake in shares of Deere & Co. during the second quarter worth about $151,000. Finally, First National Bank & Trust Co. of Newtown purchased a new stake in shares of Deere & Co. during the second quarter worth about $202,000. 70.14% of the stock is currently owned by institutional investors.
Deere & Co. Company Profile