Trade Report: Today: Piper Jaffray Cos. Upgraded Deere & Company (DE) to “Neutral”

Today: Piper Jaffray Cos. Upgraded Deere & Company (DE) to “Neutral”

Deere & Company (NYSE:DE) was upgraded by equities researchers at Piper Jaffray Cos. from an “underweight” rating to a “neutral” rating in a report released on Monday.

DE has been the topic of several other reports. Wells Fargo & Co. upgraded Deere & Company from a “market perform” rating to an “outperform” rating in a research note on Monday, October 10th. Clarkson Capital upgraded Deere & Company from a “neutral” rating to a “buy” rating in a research note on Tuesday, October 18th. Barclays PLC boosted their price objective on Deere & Company from $63.00 to $68.00 and gave the company an “underweight” rating in a research note on Wednesday, October 12th. Argus boosted their price objective on Deere & Company from $90.00 to $98.00 and gave the company a “buy” rating in a research note on Tuesday, August 23rd. Finally, Jefferies Group decreased their price objective on Deere & Company from $90.00 to $85.00 and set a “hold” rating on the stock in a research note on Thursday, August 25th. Five investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and ten have given a buy rating to the company’s stock. Deere & Company has a consensus rating of “Hold” and a consensus price target of $88.24.

Shares of Deere & Company (NYSE:DE) opened at 103.92 on Monday. Deere & Company has a 1-year low of $70.16 and a 1-year high of $104.83. The company has a 50-day moving average price of $89.32 and a 200 day moving average price of $84.18. The firm has a market capitalization of $32.67 billion, a price-to-earnings ratio of 20.83 and a beta of 0.71.

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

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

In other news, insider John C. May II sold 18,614 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at approximately $2,790,201.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.75% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Rehmann Capital Advisory Group raised its position in Deere & Company by 0.3% in the second quarter. Rehmann Capital Advisory Group now owns 2,693 shares of the company’s stock worth $218,000 after buying an additional 8 shares during the period. Signaturefd LLC raised its position in Deere & Company by 1.3% in the second quarter. Signaturefd LLC now owns 1,610 shares of the company’s stock worth $130,000 after buying an additional 21 shares during the period. FineMark National Bank & Trust raised its position in Deere & Company by 1.8% in the second quarter. FineMark National Bank & Trust now owns 1,451 shares of the company’s stock worth $118,000 after buying an additional 26 shares during the period. Capital Investment Advisors LLC raised its position in Deere & Company by 0.8% in the third quarter. Capital Investment Advisors LLC now owns 3,317 shares of the company’s stock worth $283,000 after buying an additional 27 shares during the period. Finally, Pacific Global Investment Management CO raised its position in Deere & Company by 0.3% in the second quarter. Pacific Global Investment Management CO now owns 9,468 shares of the company’s stock worth $767,000 after buying an additional 31 shares during the period. 71.68% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Company Profile

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