TheStreet upgraded shares of Deere & Co. (NYSE:DE) from a hold rating to a buy rating in a research note released on Wednesday.
Other analysts also recently issued reports about the company. Deutsche Bank AG restated a buy rating and set a $101.00 target price on shares of Deere & Co. in a research note on Thursday, August 25th. Argus raised their target price on Deere & Co. from $90.00 to $98.00 and gave the company a buy rating in a research note on Tuesday, August 23rd. Citigroup Inc. lowered their target price on Deere & Co. from $100.00 to $87.00 and set a buy rating for the company in a research note on Monday, August 22nd. Vetr upgraded Deere & Co. from a hold rating to a buy rating and set a $80.57 target price for the company in a research note on Monday, August 15th. Finally, Clarkson Capital upgraded Deere & Co. from a neutral rating to a buy rating in a research note on Tuesday, October 18th. Seven investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and ten have given a buy rating to the stock. The company currently has an average 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. The company had a trading volume of 6,584,679 shares. Deere & Co. has a 52-week low of $70.16 and a 52-week high of $104.83. The stock has a market capitalization of $32.67 billion, a price-to-earnings ratio of 20.83 and a beta of 0.71. The stock has a 50 day moving average of $89.32 and a 200 day moving average of $84.18.
Deere & Co. (NYSE:DE) last announced its quarterly earnings results on Wednesday, November 23rd. The company reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.50. Deere & Co. had a return on equity of 22.73% and a net margin of 5.92%. The firm earned $6.52 billion during the quarter. During the same quarter in the prior year, the company posted $1.08 earnings per share. The firm’s revenue for the quarter was down 4.8% on a year-over-year basis. Equities research analysts forecast that Deere & Co. will post $4.32 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 1st. Investors of record on Friday, September 30th were paid a dividend of $0.60 per share. 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 presently 48.10%.
In related 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 shares were sold at an average price of $96.46, for a total transaction of $1,795,506.44. Following the transaction, the insider now owns 28,926 shares in the company, valued at $2,790,201.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.75% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. D.A. Davidson & CO. raised its position in Deere & Co. by 21.3% in the third quarter. D.A. Davidson & CO. now owns 167,901 shares of the company’s stock worth $14,328,000 after buying an additional 29,514 shares in the last quarter. Whalerock Point Partners LLC bought a new position in Deere & Co. during the third quarter worth approximately $367,000. Piedmont Investment Advisors LLC bought a new position in Deere & Co. during the third quarter worth approximately $9,379,000. Quantitative Systematic Strategies LLC bought a new position in Deere & Co. during the third quarter worth approximately $590,000. Finally, OLD Republic International Corp raised its position in Deere & Co. by 19.4% in the third quarter. OLD Republic International Corp now owns 394,040 shares of the company’s stock worth $30,690,000 after buying an additional 64,000 shares in the last quarter. Institutional investors and hedge funds own 70.14% of the company’s stock.
Deere & Co. Company Profile