Deere & Co. (NYSE:DE) was upgraded by research analysts at Wells Fargo & Co. from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Monday, The Fly reports.
A number of other analysts also recently weighed in on the stock. Piper Jaffray Cos. downgraded shares of Deere & Co. from a “neutral” rating to an “underweight” rating and decreased their price target for the stock from $77.64 to $67.00 in a research report on Monday, July 25th. Vetr raised shares of Deere & Co. from a “strong sell” rating to a “sell” rating and set a $73.25 price target for the company in a research report on Monday, June 27th. Zacks Investment Research raised shares of Deere & Co. from a “hold” rating to a “strong-buy” rating and set a $95.00 price target for the company in a research report on Monday, September 12th. TheStreet downgraded shares of Deere & Co. from a “buy” rating to a “hold” rating in a research report on Monday, October 3rd. Finally, Citigroup Inc. decreased their price target on shares of Deere & Co. from $100.00 to $87.00 and set a “buy” rating for the company in a research report on Monday, August 22nd. Eight investment analysts have rated the stock with a sell rating, eight have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $82.40.
Deere & Co. (NYSE:DE) opened at 86.30 on Monday. The firm has a market capitalization of $27.13 billion, a PE ratio of 17.29 and a beta of 0.89. Deere & Co. has a 1-year low of $70.16 and a 1-year high of $88.63. The stock’s 50 day moving average is $84.40 and its 200-day moving average is $81.94.
Deere & Co. (NYSE:DE) last released its quarterly earnings results on Friday, August 19th. The company reported $1.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.94 by $0.61. Deere & Co. had a net margin of 5.92% and a return on equity of 22.73%. The business earned $6.72 billion during the quarter. During the same period in the previous year, the business posted $1.53 EPS. The firm’s quarterly revenue was down 14.3% compared to the same quarter last year. Equities research analysts forecast that Deere & Co. will post $4.30 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Friday, September 30th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $2.40 dividend on an annualized basis and a yield of 2.78%. Deere & Co.’s dividend payout ratio is currently 48.10%.
Institutional investors have recently modified their holdings of the company. Washington Trust Bank raised its stake in shares of Deere & Co. by 59.0% in the second quarter. Washington Trust Bank now owns 1,240 shares of the company’s stock worth $100,000 after buying an additional 460 shares during the last quarter. FineMark National Bank & Trust raised its stake in shares of Deere & Co. by 1.8% in the second quarter. FineMark National Bank & Trust now owns 1,451 shares of the company’s stock worth $118,000 after buying an additional 26 shares during the last quarter. Signaturefd LLC raised its stake in shares of Deere & Co. by 1.3% in the second quarter. Signaturefd LLC now owns 1,610 shares of the company’s stock worth $130,000 after buying an additional 21 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of Deere & Co. during the first quarter worth approximately $142,000. Finally, Iowa State Bank acquired a new stake in shares of Deere & Co. during the second quarter worth approximately $151,000. 70.62% of the stock is currently owned by hedge funds and other institutional investors.
About Deere & Co.
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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