Trade Report: Today, Deere & Co. (DE) Upgraded to “Buy” at TheStreet

Today, Deere & Co. (DE) Upgraded to “Buy” at TheStreet

Deere & Co. (NYSE:DE) was upgraded by analysts at TheStreet from a “hold” rating to a “buy” rating in a research report issued on Wednesday.

Other equities analysts also recently issued reports about the stock. Deutsche Bank AG restated a “buy” rating and issued a $101.00 target price on shares of Deere & Co. in a research note on Thursday, August 25th. Argus upped their target price on shares of Deere & Co. from $90.00 to $98.00 and gave the stock a “buy” rating in a research note on Tuesday, August 23rd. Citigroup Inc. dropped their target price on shares of Deere & Co. from $100.00 to $87.00 and set a “buy” rating on the stock in a research note on Monday, August 22nd. Vetr upgraded shares of Deere & Co. from a “hold” rating to a “buy” rating and set a $80.57 target price on the stock in a research note on Monday, August 15th. Finally, Clarkson Capital upgraded shares of Deere & Co. from a “neutral” rating to a “buy” rating in a research note on Tuesday, October 18th. Seven analysts have rated the stock with a sell rating, eleven have assigned a hold rating and ten have assigned 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) traded up 1.71% during trading on Wednesday, reaching $103.92. 6,584,679 shares of the company were exchanged. The company’s 50-day moving average is $89.32 and its 200 day moving average is $84.18. Deere & Co. has a 1-year low of $70.16 and a 1-year high of $104.83. The firm has a market capitalization of $32.67 billion, a PE ratio of 20.83 and a beta of 0.71.

Deere & Co. (NYSE:DE) last posted its quarterly earnings data on Wednesday, November 23rd. The company reported $0.90 earnings per share for the quarter, topping the Zacks’ 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 company had revenue of $6.52 billion for the quarter. During the same period last year, the company earned $1.08 earnings per share. The business’s revenue for the quarter was down 4.8% compared to the same quarter last year. Equities research analysts expect that Deere & Co. will post $4.32 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 1st. Shareholders of record on Friday, September 30th were issued a $0.60 dividend. The ex-dividend date of this dividend was Wednesday, September 28th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.31%. Deere & Co.’s dividend 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 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 of the company’s stock, valued at $2,790,201.96. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.75% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of DE. Rehmann Capital Advisory Group boosted its position in Deere & Co. by 0.3% in the second quarter. Rehmann Capital Advisory Group now owns 2,693 shares of the company’s stock worth $218,000 after buying an additional 8 shares in the last quarter. Signaturefd LLC boosted its position in Deere & Co. by 1.3% in the second quarter. Signaturefd LLC now owns 1,610 shares of the company’s stock worth $130,000 after buying an additional 21 shares in the last quarter. FineMark National Bank & Trust boosted its position in Deere & Co. by 1.8% in the second quarter. FineMark National Bank & Trust now owns 1,451 shares of the company’s stock worth $118,000 after buying an additional 26 shares in the last quarter. Capital Investment Advisors LLC boosted its position in Deere & Co. by 0.8% in the third quarter. Capital Investment Advisors LLC now owns 3,317 shares of the company’s stock worth $283,000 after buying an additional 27 shares in the last quarter. Finally, Pacific Global Investment Management CO boosted its position in Deere & Co. by 0.3% in the second quarter. Pacific Global Investment Management CO now owns 9,468 shares of the company’s stock worth $767,000 after buying an additional 31 shares in the last quarter. 70.14% of the stock is owned by institutional investors and hedge funds.

Deere & Co. Company Profile

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