Deere & Company (NYSE:DE)‘s stock had its “outperform” rating reiterated by investment analysts at Wells Fargo & Co. in a research report issued on Monday. They currently have a $121.50 price objective on the stock, up from their prior price objective of $101.50. Wells Fargo & Co.’s target price suggests a potential upside of 16.92% from the company’s previous close.
A number of other equities research analysts also recently issued reports on DE. Citigroup Inc. lowered their price target on Deere & Company from $100.00 to $87.00 and set a “buy” rating for the company in a research report on Monday, August 22nd. TheStreet raised Deere & Company from a “hold” rating to a “buy” rating in a research report on Wednesday, November 23rd. Barclays PLC boosted their price target on Deere & Company from $63.00 to $68.00 and gave the company an “underweight” rating in a research report on Wednesday, October 12th. Oppenheimer Holdings Inc. downgraded Deere & Company from an “outperform” rating to a “market perform” rating in a research report on Thursday, October 27th. Finally, Credit Suisse Group AG upped their target price on Deere & Company from $87.00 to $100.00 and gave the stock an “outperform” rating in a research report on Monday, August 22nd. Six research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and ten have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $88.24.
Shares of Deere & Company (NYSE:DE) opened at 103.92 on Monday. The firm has a market cap of $32.67 billion, a price-to-earnings 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 12 month low of $70.16 and a 12 month high of $104.83.
Deere & Company (NYSE:DE) last released its earnings results on Wednesday, November 23rd. The company reported $0.90 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.50. The firm earned $6.52 billion during the quarter. Deere & Company had a return on equity of 21.54% and a net margin of 5.72%. The business’s revenue for the quarter was down 4.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.08 earnings per share. Equities research analysts predict that Deere & Company 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. Investors of record on Friday, September 30th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date was Wednesday, September 28th. Deere & Company’s dividend payout ratio (DPR) is 49.90%.
In related 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 directly 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 is accessible through this link. 0.75% of the stock is owned by corporate insiders.
Institutional investors have recently modified their holdings of the stock. Washington Trust Bank raised its position in shares of Deere & Company by 59.0% in the second quarter. Washington Trust Bank now owns 1,240 shares of the company’s stock worth $100,000 after buying an additional 460 shares during the last quarter. Hartford Financial Management Inc. raised 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 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 in the last quarter. 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 in the last quarter. 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 in the last quarter. 71.68% of the stock is owned by hedge funds and other institutional investors.
Deere & Company Company Profile