Deere & Company (NYSE:DE – Get Rating) had its target price lowered by JPMorgan Chase & Co. from $370.00 to $325.00 in a report released on Tuesday morning, The Fly reports. JPMorgan Chase & Co. currently has a neutral rating on the industrial products company’s stock.
A number of other research analysts have also recently commented on DE. Citigroup upgraded Deere & Company from a neutral rating to a buy rating and decreased their price target for the stock from $435.00 to $340.00 in a research report on Thursday, July 7th. Oppenheimer decreased their price target on Deere & Company from $446.00 to $419.00 and set an outperform rating on the stock in a research report on Monday, May 23rd. Wells Fargo & Company decreased their price target on Deere & Company from $455.00 to $410.00 and set an overweight rating on the stock in a research report on Monday, May 23rd. Bank of America cut Deere & Company from a buy rating to a neutral rating and decreased their price target for the stock from $475.00 to $450.00 in a research report on Monday, April 25th. Finally, The Goldman Sachs Group decreased their price target on Deere & Company from $480.00 to $420.00 and set a buy rating on the stock in a research report on Monday, May 23rd. Seven analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $411.72.
DE stock opened at $295.96 on Tuesday. The company has a debt-to-equity ratio of 1.72, a current ratio of 2.07 and a quick ratio of 1.76. The stock has a market capitalization of $90.46 billion, a price-to-earnings ratio of 15.44, a PEG ratio of 1.00 and a beta of 1.08. The business’s fifty day moving average price is $337.61 and its two-hundred day moving average price is $370.53. Deere & Company has a fifty-two week low of $283.81 and a fifty-two week high of $446.76.
Deere & Company (NYSE:DE – Get Rating) last posted its quarterly earnings data on Friday, May 20th. The industrial products company reported $6.81 earnings per share for the quarter, topping the consensus estimate of $6.71 by $0.10. The firm had revenue of $12.03 billion for the quarter, compared to analysts’ expectations of $13.16 billion. Deere & Company had a return on equity of 33.58% and a net margin of 12.99%. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter last year, the business earned $5.68 EPS. Research analysts expect that Deere & Company will post 23.32 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 8th. Stockholders of record on Thursday, June 30th will be given a dividend of $1.13 per share. This represents a $4.52 dividend on an annualized basis and a dividend yield of 1.53%. This is an increase from Deere & Company’s previous quarterly dividend of $1.05. The ex-dividend date of this dividend is Wednesday, June 29th. Deere & Company’s dividend payout ratio (DPR) is 23.58%.
In other news, insider John H. Stone sold 17,145 shares of the firm’s stock in a transaction dated Thursday, May 26th. The stock was sold at an average price of $4,321.07, for a total transaction of $74,084,745.15. Following the completion of the transaction, the insider now directly owns 21,087 shares in the company, valued at $91,118,403.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.24% of the stock is owned by company insiders.
Hedge funds have recently modified their holdings of the business. Douglas Lane & Associates LLC increased its holdings in Deere & Company by 40.5% in the first quarter. Douglas Lane & Associates LLC now owns 832 shares of the industrial products company’s stock worth $345,000 after purchasing an additional 240 shares in the last quarter. Cooper Financial Group bought a new stake in Deere & Company in the first quarter worth approximately $229,000. Mascoma Wealth Management LLC increased its holdings in shares of Deere & Company by 53.6% during the first quarter. Mascoma Wealth Management LLC now owns 573 shares of the industrial products company’s stock valued at $238,000 after acquiring an additional 200 shares in the last quarter. Byrne Asset Management LLC bought a new stake in shares of Deere & Company during the first quarter valued at approximately $1,199,000. Finally, Platte River Wealth Advisors LLC bought a new stake in shares of Deere & Company during the first quarter valued at approximately $465,000. Institutional investors and hedge funds 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
