Trade Report: Today, Deere & Co. (DE) Upgrade to “Neutral” at Longbow Research

Today, Deere & Co. (DE) Upgrade to “Neutral” at Longbow Research

Deere & Co. (NYSE:DE) was upgraded by equities researchers at Longbow Research from an “underperform” rating to a “neutral” rating in a research report issued to clients and investors on Friday.

Several other equities analysts have also recently weighed in on DE. JPMorgan Chase & Co. reissued an “underweight” rating on shares of Deere & Co. in a research note on Friday, October 21st. Royal Bank Of Canada lifted their price objective on shares of Deere & Co. from $80.00 to $98.00 and gave the stock a “sector perform” rating in a research report on Friday. RBC Capital Markets assumed coverage on shares of Deere & Co. in a research report on Thursday, November 10th. They set an “outperform” rating for the company. Oppenheimer Holdings Inc. cut shares of Deere & Co. from an “outperform” rating to a “market perform” rating in a research report on Thursday, October 27th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $96.00 price objective on shares of Deere & Co. in a research report on Thursday, August 18th. Seven equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and nine have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $86.49.

Shares of Deere & Co. (NYSE:DE) opened at 102.17 on Friday. The company has a market cap of $32.12 billion, a price-to-earnings ratio of 20.47 and a beta of 0.71. The stock has a 50 day moving average of $88.69 and a 200 day moving average of $84.01. Deere & Co. has a 12-month low of $70.16 and a 12-month high of $102.50.

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

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 1st. Shareholders of record on Friday, September 30th were paid 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 dividend payout ratio (DPR) is presently 48.10%.

In other Deere & Co. news, insider John C. May II sold 18,614 shares of the business’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 transaction, 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 legal filing with the SEC, which is available through this link. 0.75% of the stock is owned by company insiders.

A number of institutional investors have recently modified their holdings of the stock. FMR LLC raised its position 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 valued at $740,647,000 after buying an additional 2,477,175 shares during the period. First Eagle Investment Management LLC raised its position 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. raised its position 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 raised its position 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 raised its position 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. 70.14% of the stock is currently owned by hedge funds and other institutional investors.

About Deere & Co.

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