Deere & Company (DE) Receives Consensus Recommendation of “Hold” from Brokerages

Deere & Company (NYSE:DE) has been given an average rating of “Hold” by the twenty-five research firms that are presently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and thirteen have given a buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $144.41.

DE has been the subject of a number of research analyst reports. ValuEngine raised Deere & Company from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Deutsche Bank lifted their target price on Deere & Company from $129.00 to $149.00 and gave the company a “hold” rating in a research report on Thursday, November 16th. Zacks Investment Research raised Deere & Company from a “hold” rating to a “buy” rating and set a $150.00 target price for the company in a research report on Thursday, November 2nd. Robert W. Baird raised Deere & Company from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $140.00 to $155.00 in a research report on Tuesday, November 21st. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $155.00 target price (up from $134.00) on shares of Deere & Company in a research report on Wednesday, November 22nd.

Shares of Deere & Company (NYSE:DE) traded up $1.67 during mid-day trading on Tuesday, hitting $157.53. The company had a trading volume of 1,714,700 shares, compared to its average volume of 2,364,083. Deere & Company has a 52-week low of $102.75 and a 52-week high of $158.10. The company has a debt-to-equity ratio of 2.71, a current ratio of 2.12 and a quick ratio of 1.95. The company has a market cap of $50,818.39, a price-to-earnings ratio of 23.72, a P/E/G ratio of 2.42 and a beta of 0.77.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Wednesday, November 22nd. The industrial products company reported $1.57 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.47 by $0.10. Deere & Company had a return on equity of 26.31% and a net margin of 7.22%. The firm had revenue of $7.09 billion during the quarter, compared to analyst estimates of $6.91 billion. During the same period last year, the company earned $0.90 EPS. Deere & Company’s quarterly revenue was up 25.6% compared to the same quarter last year. equities research analysts anticipate that Deere & Company will post 7.94 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Friday, December 29th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $2.40 dividend on an annualized basis and a yield of 1.52%. Deere & Company’s dividend payout ratio is currently 36.14%.

In other news, VP Marc A. Howze sold 7,731 shares of the business’s stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $151.76, for a total value of $1,173,256.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Cory J. Reed sold 6,416 shares of the business’s stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $151.54, for a total value of $972,280.64. Following the completion of the transaction, the insider now directly owns 11,383 shares of the company’s stock, valued at approximately $1,724,979.82. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 224,642 shares of company stock valued at $31,335,834. 0.75% of the stock is currently owned by insiders.

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in Deere & Company by 5.6% in the 2nd quarter. Vanguard Group Inc. now owns 21,593,762 shares of the industrial products company’s stock worth $2,668,774,000 after purchasing an additional 1,153,484 shares during the period. BlackRock Inc. raised its holdings in Deere & Company by 2.5% in the 2nd quarter. BlackRock Inc. now owns 17,125,313 shares of the industrial products company’s stock worth $2,116,517,000 after purchasing an additional 409,861 shares during the period. Capital International Investors raised its holdings in Deere & Company by 35.4% in the 3rd quarter. Capital International Investors now owns 8,807,474 shares of the industrial products company’s stock worth $1,106,131,000 after purchasing an additional 2,300,531 shares during the period. FMR LLC raised its holdings in Deere & Company by 18.3% in the 2nd quarter. FMR LLC now owns 5,032,313 shares of the industrial products company’s stock worth $621,943,000 after purchasing an additional 777,519 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in Deere & Company by 21.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 3,621,764 shares of the industrial products company’s stock worth $454,857,000 after purchasing an additional 634,001 shares during the period. 67.36% of the stock is owned by institutional investors and hedge funds.

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Deere & Company 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.

Analyst Recommendations for Deere & Company (NYSE:DE)

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