Today: Today: Deere & Company (DE) Upgrade to Neutral at Piper Jaffray Cos.

Today: Deere & Company (DE) Upgrade to Neutral at Piper Jaffray Cos.

Deere & Company (NYSE:DE) was upgraded by stock analysts at Piper Jaffray Cos. from an “underweight” rating to a “neutral” rating in a report issued on Monday. The brokerage currently has a $100.00 price objective on the stock, up from their previous price objective of $70.00. Piper Jaffray Cos.’s price target would suggest a potential downside of 3.77% from the company’s previous close.

A number of other equities research analysts also recently weighed in on DE. JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of Deere & Company in a research report on Friday, October 21st. RBC Capital Markets began coverage on shares of Deere & Company in a research report on Thursday, November 10th. They set an “outperform” rating for the company. Royal Bank Of Canada boosted their price objective on shares of Deere & Company from $80.00 to $98.00 and gave the company a “sector perform” rating in a research report on Friday. Oppenheimer Holdings Inc. downgraded shares of Deere & Company from an “outperform” rating to a “market perform” rating in a research report on Thursday, October 27th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $96.00 price objective on shares of Deere & Company in a research report on Thursday, August 18th. Five analysts have rated the stock with a sell rating, twelve have issued a hold rating and ten have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $90.24.

Shares of Deere & Company (NYSE:DE) traded down 2.12% during midday trading on Monday, reaching $101.72. 4,579,397 shares of the company were exchanged. The company’s 50-day moving average price is $89.32 and its 200 day moving average price is $84.18. Deere & Company has a 52-week low of $70.16 and a 52-week high of $104.83. 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 & Company (NYSE:DE) last released its earnings results on Wednesday, November 23rd. The company reported $0.90 earnings per share for the quarter, topping 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%. Deere & Company’s revenue for the quarter was down 4.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.08 EPS. On average, equities analysts predict that Deere & Company will post $4.32 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 1st. Shareholders 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 annualized dividend and a yield of 2.31%. Deere & Company’s dividend payout ratio is presently 49.90%.

In other Deere & Company news, insider John C. May II sold 18,614 shares of the company’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 value of $1,795,506.44. Following the transaction, the insider now owns 28,926 shares in the company, valued at approximately $2,790,201.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.75% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Washington Trust Bank increased 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 in the last quarter. Hartford Financial Management Inc. increased its stake in 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 increased 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 in the last quarter. CWM LLC increased 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 in the last quarter. Finally, Cornerstone Advisors Inc. increased 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 in the last quarter. Hedge funds and other institutional investors own 71.68% of the company’s stock.

Deere & Company Company Profile

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