Traders Buy Deere & Co. (DE) on Weakness
Investors bought shares of Deere & Co. (NYSE:DE) on weakness during trading on Tuesday. $104.58 million flowed into the stock on the tick-up and $28.10 million flowed out of the stock on the tick-down, for a money net flow of $76.48 million into the stock. Of all stocks tracked, Deere & Co. had the 3rd highest net in-flow for the day. Deere & Co. traded down ($0.03) for the day and closed at $78.89
Several research firms recently commented on DE. Vetr cut shares of Deere & Co. from a “hold” rating to a “sell” rating and set a $83.39 target price for the company. in a research note on Monday, June 6th. Goldman Sachs Group Inc. upgraded shares of Deere & Co. from a “neutral” rating to a “buy” rating and upped their target price for the company from $87.00 to $105.00 in a research note on Thursday, June 2nd. Zacks Investment Research upgraded shares of Deere & Co. from a “sell” rating to a “hold” rating in a research note on Tuesday, May 17th. Robert W. Baird reiterated a “hold” rating on shares of Deere & Co. in a research note on Monday, May 16th. Finally, Morgan Stanley reiterated a “sell” rating on shares of Deere & Co. in a research note on Saturday, May 14th. 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 company. The company presently has an average rating of “Hold” and a consensus price target of $79.40.
The stock’s 50-day moving average is $80.65 and its 200 day moving average is $80.79. The firm has a market cap of $24.79 billion and a P/E ratio of 15.83.
Deere & Co. (NYSE:DE) last announced its earnings results on Friday, May 20th. The company reported $1.56 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.48 by $0.08. The business earned $7.88 billion during the quarter. The business’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.03 earnings per share. On average, equities research analysts expect that Deere & Co. will post $3.87 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, August 1st. Investors of record on Thursday, June 30th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date of this dividend was Tuesday, June 28th.
A number of hedge funds and institutional investors recently bought and sold shares of DE. Trexquant Investment LP increased its position in Deere & Co. by 78.3% in the fourth quarter. Trexquant Investment LP now owns 14,800 shares of the company’s stock worth $1,129,000 after buying an additional 6,500 shares during the period. GSA Capital Partners LLP increased its position in Deere & Co. by 54.0% in the fourth quarter. GSA Capital Partners LLP now owns 17,158 shares of the company’s stock worth $1,309,000 after buying an additional 6,018 shares during the period. Airain ltd bought a new position in Deere & Co. during the fourth quarter worth approximately $1,396,000. Advantus Capital Management Inc increased its position in Deere & Co. by 1.9% in the fourth quarter. Advantus Capital Management Inc now owns 29,800 shares of the company’s stock worth $2,273,000 after buying an additional 554 shares during the period. Finally, Victory Capital Management Inc. increased its position in Deere & Co. by 37.9% in the fourth quarter. Victory Capital Management Inc. now owns 32,014 shares of the company’s stock worth $2,442,000 after buying an additional 8,801 shares during the period.
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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