Deere & Company (NYSE:DE)‘s stock had its “hold” rating reissued by stock analysts at Robert W. Baird in a research note issued to investors on Thursday. They presently have a $140.00 price objective on the industrial products company’s stock. Robert W. Baird’s price target suggests a potential upside of 9.57% from the company’s current price.
Other equities analysts also recently issued research reports about the company. BidaskClub downgraded Deere & from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 22nd. Goldman Sachs Group, Inc. (The) initiated coverage on Deere & in a research report on Tuesday, August 8th. They set a “buy” rating on the stock. Credit Suisse Group set a $148.00 price target on Deere & and gave the stock a “buy” rating in a research report on Friday, August 18th. Argus reiterated a “buy” rating and set a $140.00 price target on shares of Deere & in a research report on Tuesday, August 22nd. Finally, Stifel Nicolaus set a $135.00 price target on Deere & and gave the stock a “buy” rating in a research report on Wednesday, August 23rd. Three analysts have rated the stock with a sell rating, sixteen have given a hold rating and ten have issued a buy rating to the company. Deere & has a consensus rating of “Hold” and a consensus price target of $127.97.
Shares of Deere & (DE) traded up 0.73% during mid-day trading on Thursday, reaching $128.70. The company had a trading volume of 723,430 shares. Deere & has a 52 week low of $85.27 and a 52 week high of $132.50. The stock has a 50 day moving average of $121.20 and a 200-day moving average of $120.36. The company has a market capitalization of $41.35 billion, a price-to-earnings ratio of 21.38 and a beta of 0.69.
Deere & (NYSE:DE) last issued its quarterly earnings results on Friday, August 18th. The industrial products company reported $1.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.93 by $0.04. The company had revenue of $6.83 billion for the quarter, compared to the consensus estimate of $6.92 billion. Deere & had a return on equity of 25.96% and a net margin of 6.81%. Deere &’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.55 earnings per share. On average, analysts expect that Deere & will post $6.52 earnings per share for the current fiscal year.
In other Deere & news, insider Jean H. Gilles sold 12,361 shares of the firm’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $129.90, for a total transaction of $1,605,693.90. Following the completion of the sale, the insider now owns 74,981 shares of the company’s stock, valued at $9,740,031.90. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider John C. May II sold 22,095 shares of the firm’s stock in a transaction on 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 sale, the insider now directly owns 51,429 shares of the company’s stock, valued at approximately $6,533,540.16. The disclosure for this sale can be found here. In the last three months, insiders have sold 116,023 shares of company stock valued at $14,185,962. 0.85% of the stock is owned by insiders.
Hedge funds have recently bought and sold shares of the business. Louisiana State Employees Retirement System increased its stake in Deere & by 1.7% during the second quarter. Louisiana State Employees Retirement System now owns 18,300 shares of the industrial products company’s stock worth $2,262,000 after acquiring an additional 300 shares during the last quarter. Schwab Charles Investment Management Inc. increased its stake in Deere & by 3.7% during the second quarter. Schwab Charles Investment Management Inc. now owns 1,139,980 shares of the industrial products company’s stock worth $140,891,000 after acquiring an additional 40,269 shares during the last quarter. Dai Ichi Life Insurance Company Ltd boosted its position in shares of Deere & by 42.1% during the first quarter. Dai Ichi Life Insurance Company Ltd now owns 21,438 shares of the industrial products company’s stock worth $2,334,000 after buying an additional 6,353 shares during the period. Ngam Advisors L.P. boosted its position in shares of Deere & by 20.8% during the first quarter. Ngam Advisors L.P. now owns 427,136 shares of the industrial products company’s stock worth $46,498,000 after buying an additional 73,484 shares during the period. Finally, Burney Co. boosted its position in shares of Deere & by 1.8% during the first quarter. Burney Co. now owns 191,616 shares of the industrial products company’s stock worth $20,859,000 after buying an additional 3,348 shares during the period. 66.17% of the stock is owned by institutional investors.
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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