Deere & Company (NYSE:DE – Get Rating) was upgraded by Citigroup from a “neutral” rating to a “buy” rating in a report issued on Thursday, MarketBeat Ratings reports. The firm presently has a $340.00 target price on the industrial products company’s stock, down from their previous target price of $435.00. Citigroup’s price target suggests a potential upside of 11.61% from the company’s current price.
Other equities analysts have also issued reports about the stock. DA Davidson cut their price objective on shares of Deere & Company from $480.00 to $445.00 and set a “buy” rating on the stock in a report on Monday, May 23rd. Robert W. Baird cut their price objective on shares of Deere & Company from $487.00 to $442.00 and set an “outperform” rating on the stock in a report on Sunday, May 22nd. StockNews.com started coverage on shares of Deere & Company in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Barclays cut their target price on shares of Deere & Company from $415.00 to $400.00 and set an “overweight” rating on the stock in a report on Monday, May 23rd. Finally, Wells Fargo & Company cut their target price on shares of Deere & Company from $455.00 to $410.00 and set an “overweight” rating on the stock in a report on Monday, May 23rd. Seven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $418.11.
Shares of DE stock opened at $304.64 on Thursday. Deere & Company has a 1 year low of $283.81 and a 1 year high of $446.76. The firm’s 50 day moving average is $341.14 and its 200-day moving average is $371.08. The firm has a market capitalization of $93.11 billion, a price-to-earnings ratio of 15.89, a PEG ratio of 0.95 and a beta of 1.08. The company has a current ratio of 2.07, a quick ratio of 1.76 and a debt-to-equity ratio of 1.72.
Deere & Company (NYSE:DE – Get Rating) last announced its quarterly earnings data on Friday, May 20th. The industrial products company reported $6.81 earnings per share for the quarter, beating the consensus estimate of $6.71 by $0.10. Deere & Company had a net margin of 12.99% and a return on equity of 33.58%. The business had revenue of $12.03 billion for the quarter, compared to analyst estimates of $13.16 billion. During the same period in the prior year, the business posted $5.68 earnings per share. Deere & Company’s revenue was up 9.4% compared to the same quarter last year. On average, equities research analysts forecast that Deere & Company will post 23.27 earnings per share for the current fiscal year.
In related news, insider John H. Stone sold 17,145 shares of the firm’s stock in a transaction on Thursday, May 26th. The shares were sold at an average price of $4,321.07, for a total value of $74,084,745.15. Following the completion of the transaction, the insider now owns 21,087 shares of the company’s stock, valued at $91,118,403.09. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.24% of the stock is currently owned by company insiders.
Hedge funds have recently made changes to their positions in the business. Nauset Wealth Management. LLC acquired a new stake in Deere & Company in the first quarter valued at $29,000. Bank of New Hampshire acquired a new stake in Deere & Company in the first quarter valued at $30,000. Worth Asset Management LLC acquired a new stake in Deere & Company in the 1st quarter worth about $28,000. Bell Investment Advisors Inc raised its stake in Deere & Company by 120.0% in the 4th quarter. Bell Investment Advisors Inc now owns 88 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 48 shares in the last quarter. Finally, First National Bank of South Miami acquired a new stake in Deere & Company in the 4th quarter worth about $34,000. Hedge funds and other institutional investors own 67.35% of the company’s stock.
Deere & Company Company Profile (Get Rating)
Deere & Company manufactures and distributes various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides mid-size tractors, combines, cotton pickers and strippers, sugarcane harvesters, harvesting front-end equipment, sugarcane loaders, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.
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Source: defenseworld.net
