Deere & Company (DE) Earns Buy Rating from Robert W. Baird

Deere & Company (NYSE:DE)‘s stock had its “buy” rating restated by research analysts at Robert W. Baird in a research report issued to clients and investors on Friday. They presently have a $185.00 price objective on the industrial products company’s stock. Robert W. Baird’s price target suggests a potential upside of 10.47% from the company’s current price.

Several other analysts also recently issued reports on the stock. Barclays raised shares of Deere & Company from a “sector perform” rating to an “outperform” rating and set a $171.00 target price on the stock in a research note on Wednesday. Wells Fargo & Co reaffirmed an “outperform” rating and issued a $200.00 price target (up from $170.00) on shares of Deere & Company in a research note on Wednesday. Royal Bank of Canada raised shares of Deere & Company from a “sector perform” rating to an “outperform” rating and dropped their price target for the stock from $190.00 to $155.00 in a research note on Wednesday. ValuEngine raised shares of Deere & Company from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Finally, BMO Capital Markets upped their price target on shares of Deere & Company to $165.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 28th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and fourteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $146.88.

Shares of Deere & Company (DE) opened at $167.46 on Friday. The company has a debt-to-equity ratio of 2.71, a quick ratio of 1.95 and a current ratio of 2.12. Deere & Company has a one year low of $103.99 and a one year high of $168.44. The stock has a market cap of $53,800.00, a price-to-earnings ratio of 25.18, a price-to-earnings-growth ratio of 2.46 and a beta of 0.77.

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

In other Deere & Company news, insider John C. May II sold 18,626 shares of the company’s stock in a transaction dated Tuesday, October 24th. The shares were sold at an average price of $130.76, for a total transaction of $2,435,535.76. Following the completion of the sale, the insider now directly owns 37,462 shares in the company, valued at $4,898,531.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Mary K.W. Jones sold 10,220 shares of the company’s stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $165.06, for a total transaction of $1,686,913.20. The disclosure for this sale can be found here. Insiders have sold 212,767 shares of company stock worth $30,215,798 over the last three months. Company insiders own 0.75% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the business. Bartlett & Co. LLC lifted its stake in shares of Deere & Company by 552.8% in the third quarter. Bartlett & Co. LLC now owns 105,048 shares of the industrial products company’s stock valued at $13,193,000 after buying an additional 88,955 shares during the period. Bank of Nova Scotia Trust Co. bought a new stake in shares of Deere & Company in the third quarter valued at about $302,000. Cutler Investment Counsel LLC lifted its stake in shares of Deere & Company by 1.3% in the second quarter. Cutler Investment Counsel LLC now owns 88,361 shares of the industrial products company’s stock valued at $10,921,000 after buying an additional 1,164 shares during the period. Sun Life Financial INC lifted its stake in shares of Deere & Company by 12,552.9% in the second quarter. Sun Life Financial INC now owns 2,151 shares of the industrial products company’s stock valued at $266,000 after buying an additional 2,134 shares during the period. Finally, IFP Advisors Inc lifted its stake in shares of Deere & Company by 7.7% in the third quarter. IFP Advisors Inc now owns 16,722 shares of the industrial products company’s stock valued at $2,100,000 after buying an additional 1,197 shares during the period. 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.

Analyst Recommendations for Deere & Company (NYSE:DE)

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