Deere & Company (NYSE:DE)‘s stock had its “hold” rating reiterated by equities researchers at Deutsche Bank AG in a research note issued on Monday. They presently have a $129.00 target price on the industrial products company’s stock, down from their prior target price of $135.00. Deutsche Bank AG’s target price would suggest a potential upside of 0.58% from the stock’s previous close.
Other equities research analysts have also issued reports about the stock. BidaskClub lowered shares of Deere & from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Goldman Sachs Group, Inc. (The) assumed coverage on shares of Deere & in a report on Tuesday, August 8th. They issued a “buy” rating for the company. Credit Suisse Group set a $148.00 target price on shares of Deere & and gave the company a “buy” rating in a report on Friday, August 18th. Argus reissued a “buy” rating and issued a $140.00 target price on shares of Deere & in a report on Tuesday, August 22nd. Finally, Stifel Nicolaus set a $135.00 target price on shares of Deere & and gave the company a “buy” rating in a report on Wednesday, August 23rd. Three investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and ten have assigned a buy rating to the stock. Deere & has a consensus rating of “Hold” and a consensus price target of $127.45.
Deere & (NYSE DE) opened at 128.25 on Monday. The firm has a 50-day moving average of $120.91 and a 200-day moving average of $120.31. Deere & has a 1-year low of $85.27 and a 1-year high of $132.50. The stock has a market cap of $41.21 billion, a PE ratio of 21.30 and a beta of 0.69.
Deere & (NYSE:DE) last announced its quarterly earnings data on Friday, August 18th. The industrial products company reported $1.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.93 by $0.04. Deere & had a net margin of 6.81% and a return on equity of 25.96%. The business had revenue of $6.83 billion during the quarter, compared to analyst estimates of $6.92 billion. During the same period last year, the firm posted $1.55 EPS. The company’s revenue was up 16.6% on a year-over-year basis. Analysts expect that Deere & will post $6.52 EPS for the current fiscal year.
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In related news, insider John C. May II sold 22,095 shares of Deere & stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $127.04, for a total value of $2,806,948.80. Following the completion of the sale, the insider now directly owns 51,429 shares in the company, valued at $6,533,540.16. 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 dated Tuesday, August 8th. The shares were sold at an average price of $130.89, for a total value of $654,450.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 116,023 shares of company stock valued at $14,185,962. Corporate insiders own 0.75% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in DE. Affinity Investment Advisors LLC bought a new stake in shares of Deere & in the first quarter valued at about $11,787,000. Teza Capital Management LLC bought a new stake in shares of Deere & in the first quarter valued at about $652,000. Alethea Capital Management LLC bought a new stake in shares of Deere & in the first quarter valued at about $1,286,000. Lincoln National Corp bought a new stake in shares of Deere & in the first quarter valued at about $249,000. Finally, Thomaspartners Inc. raised its holdings in shares of Deere & by 5.9% in the first quarter. Thomaspartners Inc. now owns 1,770,719 shares of the industrial products company’s stock valued at $192,760,000 after acquiring an additional 99,426 shares in the last quarter. Hedge funds and other institutional investors own 66.17% of the company’s stock.
About Deere &
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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