A number of other research analysts have also commented on the stock. Jefferies Group LLC upped their price objective on shares of Deere & Company from $95.00 to $105.00 and gave the company a hold rating in a research report on Thursday, February 23rd. Vetr raised shares of Deere & Company from a sell rating to a hold rating and set a $109.18 price objective for the company in a research report on Wednesday, February 22nd. TheStreet lowered shares of Deere & Company from a b rating to a c+ rating in a research report on Wednesday, February 22nd. Zacks Investment Research raised shares of Deere & Company from a hold rating to a buy rating and set a $124.00 price objective for the company in a research report on Wednesday, February 22nd. Finally, Wells Fargo & Co reaffirmed an outperform rating and set a $124.50 price objective (up previously from $121.50) on shares of Deere & Company in a research report on Tuesday, February 21st. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $101.31.
Deere & Company (NYSE:DE) opened at 107.16 on Thursday. The firm has a market capitalization of $34.11 billion, a P/E ratio of 23.21 and a beta of 0.73. The stock’s 50 day moving average price is $109.66 and its 200 day moving average price is $98.67. Deere & Company has a 12 month low of $74.91 and a 12 month high of $112.18.
Deere & Company (NYSE:DE) last announced its quarterly earnings data on Friday, February 17th. The company reported $0.61 EPS for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.07. The business earned $4.70 billion during the quarter, compared to analyst estimates of $4.59 billion. Deere & Company had a net margin of 5.72% and a return on equity of 21.97%. The firm’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.80 earnings per share. On average, analysts forecast that Deere & Company will post $4.79 earnings per share for the current year.
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The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 1st. Shareholders of record on Friday, March 31st will be paid a dividend of $0.60 per share. The ex-dividend date is Wednesday, March 29th. This represents a $2.40 annualized dividend and a yield of 2.24%. Deere & Company’s dividend payout ratio is 49.90%.
In other news, insider Cory J. Reed sold 1,829 shares of the stock in a transaction that occurred on Wednesday, February 22nd. The shares were sold at an average price of $108.78, for a total transaction of $198,958.62. Following the sale, the insider now directly owns 6,796 shares of the company’s stock, valued at $739,268.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Samuel R. Allen sold 28,808 shares of the stock in a transaction that occurred on Wednesday, February 22nd. The shares were sold at an average price of $109.40, for a total transaction of $3,151,595.20. Following the sale, the chief executive officer now directly owns 299,596 shares in the company, valued at $32,775,802.40. The disclosure for this sale can be found here. Insiders have sold 34,302 shares of company stock worth $3,753,704 over the last ninety days. Insiders own 0.75% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in DE. Viking Global Investors LP bought a new stake in Deere & Company during the fourth quarter valued at approximately $959,411,000. FMR LLC boosted its stake in Deere & Company by 63.4% in the fourth quarter. FMR LLC now owns 6,221,374 shares of the company’s stock valued at $641,050,000 after buying an additional 2,414,034 shares during the period. Norges Bank bought a new stake in Deere & Company during the fourth quarter valued at approximately $223,422,000. Loomis Sayles & Co. L P boosted its stake in Deere & Company by 22.6% in the fourth quarter. Loomis Sayles & Co. L P now owns 5,834,363 shares of the company’s stock valued at $601,173,000 after buying an additional 1,076,882 shares during the period. Finally, First Eagle Investment Management LLC boosted its stake in Deere & Company by 20.4% in the third quarter. First Eagle Investment Management LLC now owns 6,325,129 shares of the company’s stock valued at $539,850,000 after buying an additional 1,072,390 shares during the period. 71.09% of the stock is currently owned by institutional investors and hedge funds.
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.
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