TheStreet Lowers Deere & Co. (DE) to Hold
Deere & Co. (NYSE:DE) was downgraded by TheStreet from a “buy” rating to a “hold” rating in a research report issued on Monday.
Several other analysts have also recently issued reports on DE. Argus upped their price objective on Deere & Co. from $90.00 to $98.00 and gave the stock a “buy” rating in a report on Tuesday, August 23rd. Jefferies Group cut their target price on Deere & Co. from $90.00 to $85.00 and set a “hold” rating on the stock in a research report on Thursday, August 25th. Piper Jaffray Cos. reissued an “underweight” rating and set a $70.00 target price on shares of Deere & Co. in a research report on Tuesday, August 30th. Morgan Stanley reissued a “sell” rating on shares of Deere & Co. in a research report on Thursday, June 30th. Finally, Barclays PLC reissued an “underweight” rating and set a $63.00 target price on shares of Deere & Co. in a research report on Monday, August 22nd. Eight investment analysts have rated the stock with a sell rating, nine have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $82.40.
Deere & Co. (NYSE:DE) traded down 0.76% during midday trading on Monday, reaching $84.70. 2,126,319 shares of the company’s stock traded hands. The stock has a market cap of $26.63 billion, a PE ratio of 16.97 and a beta of 0.89. Deere & Co. has a one year low of $70.16 and a one year high of $88.63. The stock’s 50 day moving average price is $83.71 and its 200-day moving average price is $81.86.
Deere & Co. (NYSE:DE) last posted its quarterly earnings results on Friday, August 19th. The company reported $1.55 EPS for the quarter, topping the Zacks’ consensus estimate of $0.94 by $0.61. Deere & Co. had a return on equity of 22.73% and a net margin of 5.92%. The company had revenue of $6.72 billion for the quarter. During the same period in the prior year, the firm posted $1.53 earnings per share. The firm’s revenue for the quarter was down 14.3% on a year-over-year basis. Equities analysts predict that Deere & Co. will post $4.30 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Friday, September 30th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date of this dividend is Wednesday, September 28th. Deere & Co.’s dividend payout ratio (DPR) is presently 48.10%.
Large investors have recently added to or reduced their stakes in the stock. Washington Trust Bank boosted its stake in Deere & Co. by 59.0% in the second quarter. Washington Trust Bank now owns 1,240 shares of the company’s stock worth $100,000 after buying an additional 460 shares during the period. FineMark National Bank & Trust boosted its stake in Deere & Co. by 1.8% in the second quarter. FineMark National Bank & Trust now owns 1,451 shares of the company’s stock worth $118,000 after buying an additional 26 shares during the period. Signaturefd LLC boosted its stake in Deere & Co. by 1.3% in the second quarter. Signaturefd LLC now owns 1,610 shares of the company’s stock worth $130,000 after buying an additional 21 shares during the period. Meeder Asset Management Inc. acquired a new stake in Deere & Co. during the first quarter worth approximately $142,000. Finally, Iowa State Bank acquired a new stake in Deere & Co. during the second quarter worth approximately $151,000. Institutional investors own 70.62% of the company’s stock.
Deere & Co. Company Profile
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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