Deere & Co. (DE) Price Target Raised to $68.00
Deere & Co. (NYSE:DE) had its price objective boosted by equities research analysts at Barclays PLC from $63.00 to $68.00 in a report issued on Wednesday. The firm presently has an “underweight” rating on the stock. Barclays PLC’s target price points to a potential downside of 21.88% from the stock’s previous close.
Other equities research analysts have also recently issued research reports about the company. Vetr upgraded Deere & Co. from a “hold” rating to a “buy” rating and set a $80.57 price objective for the company in a report on Monday, August 15th. Citigroup Inc. reduced their price objective on Deere & Co. from $100.00 to $87.00 and set a “buy” rating for the company in a report on Monday, August 22nd. Argus boosted 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. Deutsche Bank AG restated a “buy” rating and set a $101.00 price objective on shares of Deere & Co. in a report on Thursday, August 25th. Finally, Jefferies Group restated a “hold” rating and set a $70.00 price objective on shares of Deere & Co. in a report on Friday, August 19th. Eight research analysts have rated the stock with a sell rating, eight have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $82.63.
Shares of Deere & Co. (NYSE:DE) traded up 0.15% during mid-day trading on Wednesday, reaching $87.18. The company had a trading volume of 252,379 shares. The firm’s 50-day moving average is $84.38 and its 200 day moving average is $82.03. Deere & Co. has a 12 month low of $70.16 and a 12 month high of $89.34. The company has a market capitalization of $27.41 billion, a price-to-earnings ratio of 17.47 and a beta of 0.89.
Deere & Co. (NYSE:DE) last issued its quarterly earnings data on Friday, August 19th. The company reported $1.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 earned $6.72 billion during the quarter. During the same quarter in the prior year, the firm earned $1.53 EPS. The company’s revenue was down 14.3% on a year-over-year basis. On average, equities research 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 issued a dividend of $0.60 per share. The ex-dividend date is Wednesday, September 28th. This represents a $2.40 dividend on an annualized basis and a yield of 2.76%. Deere & Co.’s payout ratio is currently 48.10%.
A number of hedge funds have recently modified their holdings of DE. Natixis increased its stake in shares of Deere & Co. by 117.0% in the first quarter. Natixis now owns 452,167 shares of the company’s stock worth $34,813,000 after buying an additional 243,784 shares during the last quarter. Robecosam AG boosted its position in Deere & Co. by 0.5% in the first quarter. Robecosam AG now owns 73,470 shares of the company’s stock worth $5,886,000 after buying an additional 390 shares during the period. Bessemer Group Inc. boosted its position in Deere & Co. by 4.9% in the first quarter. Bessemer Group Inc. now owns 8,100 shares of the company’s stock worth $623,000 after buying an additional 381 shares during the period. Legal & General Group Plc boosted its position in Deere & Co. by 0.3% in the first quarter. Legal & General Group Plc now owns 1,436,384 shares of the company’s stock worth $110,619,000 after buying an additional 3,974 shares during the period. Finally, Squarepoint Ops LLC boosted its position in Deere & Co. by 427.8% in the first quarter. Squarepoint Ops LLC now owns 91,982 shares of the company’s stock worth $7,082,000 after buying an additional 74,553 shares during the period. Hedge funds and other 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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