Deere & Company’s (DE) Outperform Rating Reiterated at Wells Fargo & Co

Deere & Company (NYSE:DE)‘s stock had its “outperform” rating restated by equities researchers at Wells Fargo & Co in a research report issued to clients and investors on Wednesday, The Fly reports. They presently have a $200.00 price objective on the industrial products company’s stock, up from their previous price objective of $170.00. Wells Fargo & Co’s price objective suggests a potential upside of 20.77% from the company’s current price.

A number of other equities research analysts have also recently issued reports on the stock. Deutsche Bank upgraded shares of Deere & Company from a “hold” rating to a “buy” rating and upped their price target for the company from $149.00 to $167.00 in a report on Thursday, November 23rd. Zacks Investment Research upgraded shares of Deere & Company from a “hold” rating to a “buy” rating and set a $150.00 price target for the company in a report on Thursday, November 2nd. Barclays started coverage on shares of Deere & Company in a report on Tuesday, December 12th. They set an “overweight” rating and a $167.00 price target for the company. Credit Suisse Group restated a “buy” rating and set a $162.00 price target on shares of Deere & Company in a report on Thursday, November 23rd. Finally, BMO Capital Markets restated a “buy” rating and set a $150.00 price target on shares of Deere & Company in a report on Thursday, November 2nd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and fourteen have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $145.18.

Deere & Company (DE) opened at $165.60 on Wednesday. The company has a current ratio of 2.12, a quick ratio of 1.95 and a debt-to-equity ratio of 2.71. The company has a market cap of $53,210.00, a price-to-earnings ratio of 24.90, a price-to-earnings-growth ratio of 2.46 and a beta of 0.77. Deere & Company has a 1 year low of $103.99 and a 1 year high of $165.98.

Deere & Company (NYSE:DE) last posted its earnings results on Wednesday, November 22nd. The industrial products company reported $1.57 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.47 by $0.10. The firm had revenue of $7.09 billion for the quarter, compared to the consensus estimate of $6.91 billion. Deere & Company had a net margin of 7.22% and a return on equity of 26.31%. The business’s quarterly revenue was up 25.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.90 earnings per share. equities analysts anticipate that Deere & Company will post 7.95 EPS for the current fiscal year.

In related news, VP Mary K.W. Jones sold 10,220 shares of the stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $165.06, for a total value of $1,686,913.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Rajesh Kalathur sold 4,519 shares of the stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $148.92, for a total transaction of $672,969.48. Following the completion of the sale, the chief financial officer now owns 36,288 shares of the company’s stock, valued at approximately $5,404,008.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 212,767 shares of company stock valued at $30,215,798. 0.75% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in DE. QCI Asset Management Inc. NY lifted its stake in Deere & Company by 18.8% during the second quarter. QCI Asset Management Inc. NY now owns 950 shares of the industrial products company’s stock worth $117,000 after purchasing an additional 150 shares during the period. Wealthcare Advisory Partners LLC bought a new position in Deere & Company during the third quarter worth about $144,000. Harfst & Associates Inc. lifted its stake in Deere & Company by 44.2% during the second quarter. Harfst & Associates Inc. now owns 1,175 shares of the industrial products company’s stock worth $145,000 after purchasing an additional 360 shares during the period. YorkBridge Wealth Partners LLC lifted its stake in Deere & Company by 1.1% during the second quarter. YorkBridge Wealth Partners LLC now owns 1,236 shares of the industrial products company’s stock worth $154,000 after purchasing an additional 13 shares during the period. Finally, San Francisco Sentry Investment Group CA bought a new position in Deere & Company during the second quarter worth about $155,000. Hedge funds and other institutional investors own 67.36% of the company’s stock.

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About Deere & Company

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.

The Fly

Analyst Recommendations for Deere & Company (NYSE:DE)

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