Trade Report: The Deere & Co. (DE) Upgraded by Wells Fargo & Co. to Outperform

The Deere & Co. (DE) Upgraded by Wells Fargo & Co. to Outperform

Wells Fargo & Co. upgraded shares of Deere & Co. (NYSE:DE) from a market perform rating to an outperform rating in a report published on Monday morning.

A number of other brokerages have also recently issued reports on DE. Argus raised their target price on shares of Deere & Co. from $90.00 to $98.00 and gave the stock a buy rating in a report on Tuesday, August 23rd. Piper Jaffray Cos. cut their target price on shares of Deere & Co. from $87.00 to $80.00 and set a neutral rating on the stock in a report on Thursday, August 25th. Deutsche Bank AG reissued a buy rating and issued a $101.00 target price on shares of Deere & Co. in a report on Thursday, August 25th. Jefferies Group cut their target price on shares of Deere & Co. from $90.00 to $85.00 and set a hold rating on the stock in a report on Thursday, August 25th. Finally, Barclays PLC reissued an underweight rating and issued a $63.00 target price on shares of Deere & Co. in a report on Monday, August 22nd. Eight research analysts have rated the stock with a sell rating, eight have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of Hold and a consensus price target of $82.63.

Shares of Deere & Co. (NYSE:DE) opened at 86.34 on Monday. Deere & Co. has a 12-month low of $70.16 and a 12-month high of $89.34. The firm has a market cap of $27.15 billion, a PE ratio of 17.30 and a beta of 0.89. The company has a 50 day moving average price of $84.32 and a 200-day moving average price of $82.10.

Deere & Co. (NYSE:DE) last posted its quarterly earnings results on Friday, August 19th. The company reported $1.55 EPS for the quarter, topping the Zacks’ consensus estimate of $0.94 by $0.61. The business earned $6.72 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 14.3% on a year-over-year basis. During the same quarter last year, the business posted $1.53 earnings per share. Analysts expect that Deere & Co. will post $4.30 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Friday, September 30th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date of this dividend is Wednesday, September 28th. Deere & Co.’s dividend payout ratio (DPR) is currently 48.10%.

Large investors have recently modified their holdings of the stock. BB&T Securities LLC raised its stake in shares of Deere & Co. by 156.7% in the first quarter. BB&T Securities LLC now owns 41,066 shares of the company’s stock worth $3,161,000 after buying an additional 25,066 shares during the period. 1832 Asset Management L.P. raised its stake in shares of Deere & Co. by 289.6% in the first quarter. 1832 Asset Management L.P. now owns 1,012,335 shares of the company’s stock worth $131,221,000 after buying an additional 752,519 shares during the period. Canada Pension Plan Investment Board raised its stake in shares of Deere & Co. by 11.4% in the first quarter. Canada Pension Plan Investment Board now owns 53,890 shares of the company’s stock worth $4,149,000 after buying an additional 5,524 shares during the period. Willis Investment Counsel raised its stake in shares of Deere & Co. by 0.6% in the first quarter. Willis Investment Counsel now owns 52,400 shares of the company’s stock worth $4,034,000 after buying an additional 300 shares during the period. Finally, Ancora Inverness LLC raised its stake in shares of Deere & Co. by 8.9% in the first quarter. Ancora Inverness LLC now owns 9,125 shares of the company’s stock worth $703,000 after buying an additional 747 shares during the period. 70.62% of the stock is owned by institutional investors.

Deere & Co. Company Profile

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