Trading Report: Today, Deere & Co. (DE) Upgrade at TheStreet

Today, Deere & Co. (DE) Upgrade at TheStreet

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

Other analysts have also recently issued reports about the company. Royal Bank Of Canada upped their target price on Deere & Co. from $80.00 to $98.00 and gave the company a “sector perform” rating in a research report on Friday. Longbow Research raised Deere & Co. from an “underperform” rating to a “neutral” rating in a research report on Friday. RBC Capital Markets upped their target price on Deere & Co. from $80.00 to $98.00 and gave the company a “sector perform” rating in a research report on Friday. Macquarie raised Deere & Co. from an “underperform” rating to a “neutral” rating in a research report on Friday. Finally, Zacks Investment Research raised Deere & Co. from a “hold” rating to a “strong-buy” rating and set a $95.00 target price for the company in a research report on Monday, September 12th. Seven investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and ten have assigned a buy rating to the stock. Deere & Co. currently has an average rating of “Hold” and an average price target of $86.49.

Shares of Deere & Co. (NYSE:DE) traded up 1.71% during mid-day trading on Wednesday, reaching $103.92. The company’s stock had a trading volume of 6,584,679 shares. Deere & Co. has a 1-year low of $70.16 and a 1-year high of $104.83. The company has a market capitalization of $32.67 billion, a price-to-earnings ratio of 20.83 and a beta of 0.71. The company’s 50 day moving average price is $89.32 and its 200-day moving average price is $84.18.

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

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 1st. Investors of record on Friday, September 30th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date of this dividend was Wednesday, September 28th. 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 stock in a transaction on Wednesday, November 23rd. The stock was sold at an average price of $96.46, for a total transaction of $1,795,506.44. Following the sale, the insider now owns 28,926 shares in the company, valued at approximately $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 corporate insiders.

Large investors have recently made changes to their positions in the stock. Rehmann Capital Advisory Group boosted its stake in shares of 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 during the period. Signaturefd LLC boosted its stake in shares of 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 during the period. FineMark National Bank & Trust boosted its stake in shares of 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 during the period. Capital Investment Advisors LLC boosted its stake in shares of 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 during the period. Finally, Pacific Global Investment Management CO boosted its stake in shares of 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 during the period. Hedge funds and other institutional investors own 70.14% of the company’s stock.

About Deere & Co.

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