Deere & Company (NYSE:DE) Given New $145.00 Price Target at Citigroup

Deere & Company (NYSE:DE) had its price target trimmed by Citigroup from $155.00 to $145.00 in a report released on Wednesday morning, The Fly reports. The brokerage currently has a neutral rating on the industrial products company’s stock.

A number of other analysts have also commented on the stock. Bank of America raised shares of Deere & Company from an underperform rating to a buy rating in a research note on Monday, March 2nd. Robert W. Baird lowered shares of Deere & Company from an outperform rating to a neutral rating and set a $150.00 price objective for the company. in a research note on Monday, April 13th. Credit Suisse Group upped their price objective on shares of Deere & Company from $204.00 to $210.00 and gave the company an outperform rating in a research note on Monday, February 24th. Argus reissued a buy rating and issued a $166.65 price target (down from $185.00) on shares of Deere & Company in a research report on Wednesday, February 26th. Finally, Telsey Advisory Group raised shares of Deere & Company from a market perform rating to an outperform rating in a research report on Friday, March 27th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the company. The stock presently has an average rating of Buy and an average price target of $168.04.

DE stock traded down $2.10 during mid-day trading on Wednesday, reaching $140.71. 3,426,656 shares of the stock traded hands, compared to its average volume of 1,765,039. The company has a current ratio of 2.12, a quick ratio of 1.84 and a debt-to-equity ratio of 2.55. Deere & Company has a 52-week low of $106.14 and a 52-week high of $181.99. The company has a market cap of $44.79 billion, a P/E ratio of 13.75, a P/E/G ratio of 3.35 and a beta of 0.93. The stock’s fifty day moving average is $137.27 and its 200-day moving average is $157.92.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Friday, May 22nd. The industrial products company reported $2.11 EPS for the quarter, beating analysts’ consensus estimates of $1.99 by $0.12. Deere & Company had a net margin of 8.41% and a return on equity of 26.92%. The company had revenue of $8.22 billion during the quarter, compared to analyst estimates of $7.68 billion. During the same period in the prior year, the firm earned $3.52 earnings per share. The business’s quarterly revenue was down 19.9% on a year-over-year basis. Equities research analysts expect that Deere & Company will post 6.09 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 8th. Investors of record on Tuesday, March 31st were issued a $0.76 dividend. The ex-dividend date was Monday, March 30th. This represents a $3.04 dividend on an annualized basis and a yield of 2.16%. Deere & Company’s dividend payout ratio is currently 30.58%.

A number of large investors have recently added to or reduced their stakes in DE. Capital Advisory Group Advisory Services LLC acquired a new position in Deere & Company in the first quarter worth approximately $28,000. Atlas Private Wealth Management acquired a new position in Deere & Company in the fourth quarter worth approximately $29,000. Barnett & Company Inc. increased its holdings in Deere & Company by 2,785.7% in the fourth quarter. Barnett & Company Inc. now owns 202 shares of the industrial products company’s stock worth $35,000 after buying an additional 195 shares during the last quarter. Solstein Capital LLC acquired a new position in Deere & Company in the fourth quarter worth approximately $35,000. Finally, Danda Trouve Investment Management Inc. acquired a new position in Deere & Company in the fourth quarter worth approximately $35,000. Hedge funds and other institutional investors own 67.55% of the company’s stock.

About Deere & Company

Deere & Company manufactures and distributes various equipment worldwide. The company operates through three segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment offers agriculture and turf equipment, and related parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; and tillage, seeding, and application equipment.

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The Fly

Analyst Recommendations for Deere & Company (NYSE:DE)

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