Trading Report: Today: Deere & Company (DE) Rating Reiterate by Jefferies Group

Today: Deere & Company (DE) Rating Reiterate by Jefferies Group

Deere & Company (NYSE:DE)‘s stock had its “hold” rating restated by stock analysts at Jefferies Group in a research report issued on Monday. They currently have a $95.00 price objective on the stock, up from their prior price objective of $85.00. Jefferies Group’s price target would suggest a potential downside of 8.58% from the company’s previous close.

DE has been the topic of several other reports. Citigroup Inc. reduced their price target on Deere & Company from $100.00 to $87.00 and set a “buy” rating on the stock in a report on Monday, August 22nd. Piper Jaffray Cos. upgraded Deere & Company from an “underweight” rating to a “neutral” rating in a report on Monday. TheStreet upgraded Deere & Company from a “hold” rating to a “buy” rating in a report on Wednesday, November 23rd. Barclays PLC raised their price objective on Deere & Company from $63.00 to $68.00 and gave the stock an “underweight” rating in a report on Wednesday, October 12th. Finally, Oppenheimer Holdings Inc. downgraded Deere & Company from an “outperform” rating to a “market perform” rating in a report on Thursday, October 27th. Five investment analysts have rated the stock with a sell rating, twelve have given a hold rating and ten have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $88.74.

Deere & Company (NYSE:DE) opened at 103.92 on Monday. The company has a market capitalization of $32.67 billion, a P/E ratio of 20.83 and a beta of 0.71. The stock’s 50 day moving average price is $89.32 and its 200-day moving average price is $84.18. Deere & Company has a one year low of $70.16 and a one year high of $104.83.

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

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 1st. Investors of record on Friday, September 30th were paid a $0.60 dividend. The ex-dividend date of this dividend was Wednesday, September 28th. This represents a $2.40 annualized dividend and a dividend yield of 2.31%. Deere & Company’s dividend payout ratio is presently 49.90%.

In related news, insider John C. May II sold 18,614 shares of Deere & Company stock in a transaction dated Wednesday, November 23rd. The stock was 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 in the company, valued at approximately $2,790,201.96. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.75% of the stock is owned by corporate insiders.

Several institutional investors have recently made changes to their positions in DE. Hartford Financial Management Inc. raised its position in shares of Deere & Company by 5.2% in the third quarter. Hartford Financial Management Inc. now owns 1,210 shares of the company’s stock valued at $103,000 after buying an additional 60 shares in the last quarter. Jolley Asset Management LLC raised its stake in Deere & Company by 14.0% in the third quarter. Jolley Asset Management LLC now owns 1,225 shares of the company’s stock valued at $105,000 after buying an additional 150 shares during the period. CWM LLC raised its stake in Deere & Company by 94.6% in the third quarter. CWM LLC now owns 1,234 shares of the company’s stock valued at $105,000 after buying an additional 600 shares during the period. Washington Trust Bank raised its stake in Deere & Company by 59.0% in the second quarter. Washington Trust Bank now owns 1,240 shares of the company’s stock valued at $100,000 after buying an additional 460 shares during the period. Finally, Cornerstone Advisors Inc. raised its stake in Deere & Company by 6.0% in the third quarter. Cornerstone Advisors Inc. now owns 1,268 shares of the company’s stock valued at $108,000 after buying an additional 72 shares during the period. Hedge funds and other institutional investors own 71.68% of the company’s stock.

Deere & Company Company Profile

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