Goldman Sachs Group, Inc. (The) upgraded shares of Deere & Company (NYSE:DE) from a buy rating to a conviction-buy rating in a research report report published on Monday, August 7th. The brokerage currently has $129.75 price target on the industrial products company’s stock.
DE has been the topic of several other reports. Credit Suisse Group set a $132.00 target price on shares of Deere & and gave the stock a buy rating in a research report on Saturday, May 20th. BidaskClub downgraded shares of Deere & from a strong-buy rating to a buy rating in a research report on Tuesday, July 25th. Barclays PLC reissued a sell rating and set a $82.00 target price (up from $80.00) on shares of Deere & in a research report on Tuesday, April 18th. Stifel Nicolaus increased their target price on shares of Deere & from $126.00 to $135.00 and gave the stock a buy rating in a research report on Monday, May 22nd. Finally, J P Morgan Chase & Co raised Deere & from an underweight rating to a neutral rating and raised their price target for the company from $103.00 to $122.00 in a research report on Friday, June 2nd. Three research analysts have rated the stock with a sell rating, fourteen have given a hold rating and twelve have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average target price of $123.26.
Shares of Deere & (NYSE DE) opened at 123.98 on Monday. Deere & has a 12 month low of $76.94 and a 12 month high of $132.50. The stock has a market cap of $39.66 billion, a P/E ratio of 22.32 and a beta of 0.67. The stock has a 50 day moving average price of $127.07 and a 200 day moving average price of $117.17.
Deere & (NYSE:DE) last posted its earnings results on Friday, May 19th. The industrial products company reported $2.49 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.70 by $0.79. The firm had revenue of $7.26 billion for the quarter, compared to the consensus estimate of $7.27 billion. Deere & had a net margin of 6.52% and a return on equity of 24.85%. The business’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.56 earnings per share. Equities analysts anticipate that Deere & will post $6.42 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Friday, June 30th were paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date of this dividend was Wednesday, June 28th. Deere &’s dividend payout ratio is 43.24%.
In other news, insider Cory J. Reed sold 5,601 shares of Deere & stock in a transaction that occurred on Thursday, May 25th. The shares were sold at an average price of $123.00, for a total value of $688,923.00. Following the completion of the transaction, the insider now owns 10,568 shares in the company, valued at $1,299,864. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Max A. Guinn sold 5,000 shares of Deere & stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $130.89, for a total transaction of $654,450.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 118,524 shares of company stock valued at $14,960,467. Corporate insiders own 0.85% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Ledyard National Bank boosted its position in Deere & by 5.0% in the first quarter. Ledyard National Bank now owns 1,050 shares of the industrial products company’s stock worth $114,000 after buying an additional 50 shares during the period. QCI Asset Management Inc. NY boosted its position in Deere & by 18.8% in the second quarter. QCI Asset Management Inc. NY now owns 950 shares of the industrial products company’s stock valued at $117,000 after buying an additional 150 shares during the period. Guardian Life Insurance Co. of America boosted its position in Deere & by 1.4% in the first quarter. Guardian Life Insurance Co. of America now owns 1,132 shares of the industrial products company’s stock valued at $123,000 after buying an additional 16 shares during the period. Arrow Financial Corp boosted its position in Deere & by 5.2% in the second quarter. Arrow Financial Corp now owns 1,010 shares of the industrial products company’s stock valued at $125,000 after buying an additional 50 shares during the period. Finally, MCF Advisors LLC boosted its position in Deere & by 26.2% in the first quarter. MCF Advisors LLC now owns 1,160 shares of the industrial products company’s stock valued at $126,000 after buying an additional 241 shares during the period. Institutional investors own 67.91% of the company’s stock.
Deere & Company Profile
Deere & Company is engaged in equipment operations. The Company is engaged in providing financial services. The Company operates through three business segments: agriculture and turf, construction and forestry, and financial services. The agriculture and turf segment manufactures and distributes a line of agriculture and turf equipment and related service parts.
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