DE has been the topic of a number of other research reports. Citigroup Inc. dropped their price objective on Deere & Co. from $100.00 to $87.00 and set a buy rating on the stock in a research report on Monday, August 22nd. Vetr upgraded Deere & Co. from a sell rating to a hold rating and set a $77.39 price target for the company in a research note on Tuesday, July 5th. Credit Suisse Group AG increased their price target on Deere & Co. from $87.00 to $100.00 and gave the company an outperform rating in a research note on Monday, August 22nd. Deutsche Bank AG reiterated a buy rating and issued a $101.00 price target on shares of Deere & Co. in a research note on Thursday, August 25th. Finally, Jefferies Group reiterated a hold rating and issued a $70.00 price target on shares of Deere & Co. in a research note on Friday, August 19th. Eight equities research analysts have rated the stock with a sell rating, nine have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of Hold and an average price target of $82.40.
Deere & Co. (NYSE:DE) opened at 85.29 on Monday. The stock has a 50 day moving average of $84.13 and a 200 day moving average of $81.91. The company has a market cap of $26.82 billion, a PE ratio of 17.09 and a beta of 0.89. Deere & Co. has a one year low of $70.16 and a one year high of $88.63.
Deere & Co. (NYSE:DE) last issued its quarterly earnings data on Friday, August 19th. The company reported $1.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.61. Deere & Co. had a return on equity of 22.73% and a net margin of 5.92%. The company had revenue of $6.72 billion for the quarter. During the same period in the previous year, the business earned $1.53 EPS. Deere & Co.’s revenue for the quarter was down 14.3% compared to the same quarter last year. On average, analysts anticipate that Deere & Co. will post $4.30 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Friday, September 30th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date of this dividend is Wednesday, September 28th. Deere & Co.’s dividend payout ratio is presently 48.10%.
Several hedge funds have recently modified their holdings of the company. Stillwater Investment Management LLC raised its stake in shares of Deere & Co. by 0.8% in the third quarter. Stillwater Investment Management LLC now owns 15,709 shares of the company’s stock worth $1,341,000 after buying an additional 120 shares in the last quarter. Burke & Herbert Bank & Trust Co. raised its position in Deere & Co. by 38.0% in the third quarter. Burke & Herbert Bank & Trust Co. now owns 5,861 shares of the company’s stock worth $500,000 after buying an additional 1,615 shares during the period. First National Bank of Mount Dora Trust Investment Services raised its position in Deere & Co. by 2.1% in the third quarter. First National Bank of Mount Dora Trust Investment Services now owns 27,457 shares of the company’s stock worth $2,343,000 after buying an additional 562 shares during the period. Norman Fields Gottscho Capital Management LLC raised its position in Deere & Co. by 3.7% in the third quarter. Norman Fields Gottscho Capital Management LLC now owns 98,227 shares of the company’s stock worth $8,384,000 after buying an additional 3,534 shares during the period. Finally, Cullinan Associates Inc. raised its position in Deere & Co. by 0.9% in the third quarter. Cullinan Associates Inc. now owns 81,920 shares of the company’s stock worth $6,992,000 after buying an additional 700 shares during the period. 70.62% of the stock is currently owned by hedge funds and other institutional investors.
Deere & Co. Company Profile
Deere & Company is engaged in equipment operations and financial services. The Company operates through three business segments: agriculture and turf, construction and forestry, and financial services. The Company’s agriculture and turf segment primarily manufactures and distributes a full line of agriculture and turf equipment and related service parts.
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