Traders Buy Deere & Co. (DE) on Weakness
Investors bought shares of Deere & Co. (NYSE:DE) on weakness during trading on Friday. $80.83 million flowed into the stock on the tick-up and $23.32 million flowed out of the stock on the tick-down, for a money net flow of $57.51 million into the stock. Of all equities tracked, Deere & Co. had the 26th highest net in-flow for the day. Deere & Co. traded down ($0.23) for the day and closed at $83.41
Several equities analysts have commented on the stock. Macquarie reissued an “underperform” rating and set a $58.00 target price on shares of Deere & Co. in a research note on Sunday, April 10th. Vetr cut shares of Deere & Co. from a “strong-buy” rating to a “buy” rating and set a $90.60 target price on the stock. in a research note on Tuesday, April 19th. TheStreet raised shares of Deere & Co. from a “hold” rating to a “buy” rating in a research note on Tuesday, March 22nd. Zacks Investment Research cut shares of Deere & Co. from a “hold” rating to a “sell” rating in a research note on Tuesday, April 26th. Finally, Piper Jaffray Cos. raised their target price on shares of Deere & Co. from $75.00 to $76.00 and gave the company a “neutral” rating in a research note on Monday, May 23rd. Seven analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $80.32.
The firm has a market capitalization of $26.21 billion and a PE ratio of 16.74. The stock’s 50 day moving average price is $83.34 and its 200-day moving average price is $80.20.
Deere & Co. (NYSE:DE) last announced its quarterly earnings data on Friday, May 20th. The company reported $1.56 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.48 by $0.08. The firm had revenue of $7.88 billion for the quarter. The company’s revenue was down 3.9% on a year-over-year basis. During the same period in the prior year, the company earned $2.03 earnings per share. On average, equities analysts predict that Deere & Co. will post $3.88 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 1st. Shareholders of record on Thursday, June 30th will be issued a dividend of $0.60 per share. The ex-dividend date is Tuesday, June 28th. This represents a $2.40 annualized dividend and a yield of 2.88%.
Several hedge funds recently made changes to their positions in DE. Nuance Investments LLC boosted its stake in shares of Deere & Co. by 1,415.1% in the fourth quarter. Nuance Investments LLC now owns 445,519 shares of the company’s stock worth $33,980,000 after buying an additional 416,113 shares during the period. Vanguard Group Inc. boosted its stake in shares of Deere & Co. by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 19,892,663 shares of the company’s stock worth $1,517,212,000 after buying an additional 364,384 shares during the period. BHF Kleinwort Benson Group S.A. bought a new stake in shares of Deere & Co. during the fourth quarter worth approximately $27,548,000. Diamond Hill Capital Management Inc. boosted its stake in shares of Deere & Co. by 20.1% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 808,702 shares of the company’s stock worth $61,680,000 after buying an additional 135,459 shares during the period. Finally, Beacon Financial Group bought a new stake in shares of Deere & Co. during the fourth quarter worth approximately $8,719,000.
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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