Trade Report: Today, Deere & Co. (DE) PT Raised to $98.00 at RBC Capital Markets

Today, Deere & Co. (DE) PT Raised to $98.00 at RBC Capital Markets

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 note issued to investors on Friday. The firm presently has a “sector perform” rating on the stock. RBC Capital Markets’ price target would indicate a potential downside of 4.08% from the stock’s previous close.

Several other analysts have also commented on the stock. Longbow Research raised shares of Deere & Co. from an “underperform” rating to a “neutral” rating in a research report on Friday. Royal Bank Of Canada lifted their price target on shares of Deere & Co. from $80.00 to $98.00 and gave the company a “sector perform” rating in a research report on Friday. BMO Capital Markets reissued a “buy” rating and issued a $96.00 target price on shares of Deere & Co. in a research report on Wednesday. Zacks Investment Research raised Deere & Co. from a “hold” rating to a “buy” rating and set a $103.00 target price on the stock in a research report on Tuesday, November 15th. Finally, Robert W. Baird lowered Deere & Co. from an “outperform” rating to a “neutral” rating in a research report on Monday, November 14th. 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 company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $86.49.

Shares of Deere & Co. (NYSE:DE) opened at 102.17 on Friday. The stock’s 50 day moving average price is $88.69 and its 200 day moving average price is $84.01. The stock has a market cap of $32.12 billion, a price-to-earnings ratio of 20.47 and a beta of 0.71. Deere & Co. has a one year low of $70.16 and a one year high of $102.50.

Deere & Co. (NYSE:DE) last released its quarterly earnings results on Wednesday, November 23rd. The company reported $0.90 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.50. The firm had revenue of $6.52 billion for the quarter. Deere & Co. had a net margin of 5.92% and a return on equity of 22.73%. The firm’s quarterly revenue was down 4.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.08 EPS. Analysts forecast that Deere & Co. will post $4.32 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 1st. Shareholders of record on Friday, September 30th were paid a $0.60 dividend. The ex-dividend date was Wednesday, September 28th. This represents a $2.40 annualized dividend and a yield of 2.35%. Deere & Co.’s dividend payout ratio is presently 48.10%.

In other Deere & Co. news, insider John C. May II sold 18,614 shares of the company’s stock in a transaction on Wednesday, November 23rd. The shares were sold at an average price of $96.46, for a total value of $1,795,506.44. Following the completion of the transaction, the insider now owns 28,926 shares in the company, valued at $2,790,201.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.75% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the stock. FMR LLC boosted its stake in shares of Deere & Co. by 37.2% in the second quarter. FMR LLC now owns 9,139,259 shares of the company’s stock worth $740,647,000 after buying an additional 2,477,175 shares during the last quarter. First Eagle Investment Management LLC boosted its stake in shares of Deere & Co. by 20.4% in the third quarter. First Eagle Investment Management LLC now owns 6,325,129 shares of the company’s stock worth $539,850,000 after buying an additional 1,072,390 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. boosted its stake in shares of Deere & Co. by 1,983.4% in the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 1,005,965 shares of the company’s stock worth $85,859,000 after buying an additional 957,680 shares during the last quarter. Generation Investment Management LLP boosted its stake in shares of Deere & Co. by 12.8% in the third quarter. Generation Investment Management LLP now owns 6,838,253 shares of the company’s stock worth $583,645,000 after buying an additional 775,827 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its stake in shares of Deere & Co. by 5,429.8% in the second quarter. Mackenzie Financial Corp now owns 764,161 shares of the company’s stock worth $61,928,000 after buying an additional 750,342 shares during the last quarter. Institutional investors own 70.14% of the company’s stock.

About Deere & Co.

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