Deere & Company (DE) Earns Hold Rating from Royal Bank of Canada

Royal Bank of Canada restated their hold rating on shares of Deere & Company (NYSE:DE) in a report released on Thursday morning. They currently have a $109.00 price objective on the stock.

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.

WARNING: This article was originally published by Mideast Time and is owned by of Mideast Time. If you are reading this article on another publication, it was copied illegally and reposted in violation of United States & international copyright and trademark legislation. The legal version of this article can be viewed at https://www.mideasttime.com/deere-company-de-earns-hold-rating-from-royal-bank-of-canada/1590048.html.

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.

5 Day Chart for NYSE:DE

Receive News & Ratings for Deere & Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Deere & Company and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply

 
© 2006-2017 Mideast Time.