Deere & Company (NYSE:DE)‘s stock had its “outperform” rating reaffirmed by investment analysts at Wells Fargo & Co. in a research report issued on Monday. They presently have a $121.50 price target on the stock, up from their prior price target of $101.50. Wells Fargo & Co.’s price objective would suggest a potential upside of 16.92% from the company’s current price.
Several other brokerages have also recently commented on DE. Vetr upgraded shares of Deere & Company from a “hold” rating to a “buy” rating and set a $80.57 target price for the company in a report on Monday, August 15th. Piper Jaffray Cos. restated an “underweight” rating and set a $70.00 target price on shares of Deere & Company in a report on Tuesday, August 30th. Longbow Research raised shares of Deere & Company from an “underperform” rating to a “neutral” rating in a research report on Friday. TheStreet lowered shares of Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, October 3rd. Finally, Clarkson Capital raised shares of Deere & Company from a “neutral” rating to a “buy” rating in a research report on Tuesday, October 18th. Six research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and ten have given a buy rating to the stock. Deere & Company currently has a consensus rating of “Hold” and an average target price of $88.24.
Deere & Company (NYSE:DE) opened at 103.92 on Monday. The company’s 50 day moving average is $89.32 and its 200-day moving average is $84.18. Deere & Company has a 1-year low of $70.16 and a 1-year high of $104.83. The firm has a market cap of $32.67 billion, a price-to-earnings ratio of 20.83 and a beta of 0.71.
Deere & Company (NYSE:DE) last released its quarterly earnings results on Wednesday, November 23rd. The company reported $0.90 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.50. The company earned $6.52 billion during the quarter. Deere & Company had a net margin of 5.72% and a return on equity of 21.54%. The firm’s quarterly revenue was down 4.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.08 EPS. On average, analysts predict that Deere & Company will post $4.32 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 1st. Shareholders of record on Friday, September 30th were issued a $0.60 dividend. The ex-dividend date of this dividend was Wednesday, September 28th. This represents a $2.40 dividend on an annualized basis and a yield of 2.31%. Deere & Company’s dividend payout ratio (DPR) is 49.90%.
In other Deere & Company 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 value of $1,795,506.44. Following the completion of the transaction, the insider now owns 28,926 shares in the company, valued at $2,790,201.96. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.75% of the stock is owned by company insiders.
A number of institutional investors have recently bought and sold shares of DE. D.A. Davidson & CO. increased its position in Deere & Company 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 during the period. Whalerock Point Partners LLC purchased a new position in Deere & Company during the third quarter worth about $367,000. Piedmont Investment Advisors LLC purchased a new position in Deere & Company during the third quarter worth about $9,379,000. Quantitative Systematic Strategies LLC purchased a new position in Deere & Company during the third quarter worth about $590,000. Finally, OLD Republic International Corp increased its position in Deere & Company 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 during the period. Institutional investors and hedge funds own 71.68% of the company’s stock.
Deere & Company Company Profile