Todays Report: Today, Deere & Co. (DE) Stock Rating Upgrade by Longbow Research

Today, Deere & Co. (DE) Stock Rating Upgrade by Longbow Research

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

DE has been the topic of several other reports. Citigroup Inc. cut their price target on shares of Deere & Co. from $100.00 to $87.00 and set a “buy” rating on the stock in a report on Monday, August 22nd. Barclays PLC upped their price target on shares of Deere & Co. from $63.00 to $68.00 and gave the company an “underweight” rating in a report on Wednesday, October 12th. Oppenheimer Holdings Inc. downgraded shares of Deere & Co. from an “outperform” rating to a “market perform” rating in a report on Thursday, October 27th. Credit Suisse Group AG upped their price target on shares of Deere & Co. from $87.00 to $100.00 and gave the company an “outperform” rating in a report on Monday, August 22nd. Finally, Wells Fargo & Co. upgraded shares of Deere & Co. from a “market perform” rating to an “outperform” rating in a report on Monday, October 10th. Five equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $90.24.

Deere & Co. (NYSE:DE) opened at 101.70 on Friday. The stock has a market capitalization of $31.98 billion, a price-to-earnings ratio of 20.38 and a beta of 0.71. Deere & Co. has a 12-month low of $70.16 and a 12-month high of $104.83. The stock’s 50 day moving average is $89.76 and its 200 day moving average is $84.31.

Deere & Co. (NYSE:DE) last issued its quarterly earnings results on Wednesday, November 23rd. The company reported $0.90 EPS for the quarter, beating the consensus estimate of $0.40 by $0.50. The company had revenue of $6.52 billion for the quarter. Deere & Co. had a net margin of 5.72% and a return on equity of 21.54%. The business’s revenue for the quarter was down 4.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.08 earnings per share. Equities analysts predict that Deere & Co. will post $4.32 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 1st. Stockholders of record on Friday, September 30th were paid a $0.60 dividend. The ex-dividend date was Wednesday, September 28th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.36%. Deere & Co.’s payout ratio is currently 49.90%.

In other news, insider Max A. Guinn sold 36,402 shares of the stock in a transaction on Friday, November 25th. The shares were sold at an average price of $102.94, for a total value of $3,747,221.88. Following the sale, the insider now owns 55,427 shares in the company, valued at $5,705,655.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 completion of the sale, the insider now owns 28,926 shares in the company, valued at approximately $2,790,201.96. The disclosure for this sale can be found here. 0.75% of the stock is currently owned by insiders.

Hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Deere & Co. by 1.5% in the second quarter. Vanguard Group Inc. now owns 17,767,247 shares of the company’s stock valued at $1,439,858,000 after buying an additional 265,118 shares in the last quarter. FMR LLC raised its stake in 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 in the last quarter. Generation Investment Management LLP raised its stake in Deere & Co. by 12.8% in the third quarter. Generation Investment Management LLP now owns 6,838,253 shares of the company’s stock valued at $583,645,000 after buying an additional 775,827 shares in the last quarter. First Eagle Investment Management LLC raised its stake in 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 valued at $539,850,000 after buying an additional 1,072,390 shares in the last quarter. Finally, Primecap Management Co. CA raised its stake in Deere & Co. by 3.1% in the second quarter. Primecap Management Co. CA now owns 5,451,419 shares of the company’s stock valued at $441,783,000 after buying an additional 164,900 shares in the last quarter. Hedge funds and other institutional investors own 71.68% of the company’s stock.

Deere & Co. Company Profile

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