Deere & Co. (DE) Upgraded at Wells Fargo & Co.
Several other analysts have also recently commented on the stock. Piper Jaffray Cos. cut shares of Deere & Co. from a neutral rating to an underweight rating and decreased their price objective for the company from $77.64 to $67.00 in a research note on Monday, July 25th. Vetr upgraded shares of Deere & Co. from a strong sell rating to a sell rating and set a $73.25 price objective for the company in a research note on Monday, June 27th. TheStreet cut shares of Deere & Co. from a buy rating to a hold rating in a research note on Monday, October 3rd. Citigroup Inc. decreased their price objective on shares of Deere & Co. from $100.00 to $87.00 and set a buy rating for the company in a research note on Monday, August 22nd. Finally, Zacks Investment Research upgraded shares of Deere & Co. from a hold rating to a strong-buy rating and set a $95.00 price objective for the company in a research note on Monday, September 12th. Eight investment analysts have rated the stock with a sell rating, eight have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $82.63.
Deere & Co. (NYSE:DE) opened at 86.94 on Monday. Deere & Co. has a 52-week low of $70.16 and a 52-week high of $89.34. The company has a market capitalization of $27.34 billion, a P/E ratio of 17.42 and a beta of 0.89. The firm has a 50-day moving average of $84.35 and a 200 day moving average of $82.07.
Deere & Co. (NYSE:DE) last announced its quarterly earnings data on Friday, August 19th. The company reported $1.55 EPS for the quarter, beating the consensus estimate of $0.94 by $0.61. Deere & Co. had a net margin of 5.92% and a return on equity of 22.73%. The business earned $6.72 billion during the quarter. During the same quarter in the previous year, the firm posted $1.53 earnings per share. The business’s revenue 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 fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Friday, September 30th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date is Wednesday, September 28th. Deere & Co.’s payout ratio is 48.10%.
Several large investors have recently made changes to their positions in DE. Sun Life Financial INC purchased a new stake in shares of Deere & Co. during the first quarter worth about $63,594,000. Washington Trust Bank raised its stake in shares of 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 in the last quarter. FineMark National Bank & Trust raised its stake in shares of 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 in the last quarter. Signaturefd LLC raised its stake in shares of 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 in the last quarter. Finally, Meeder Asset Management Inc. purchased a new stake in shares of Deere & Co. during the first quarter worth about $142,000. 70.62% of the stock is owned by hedge funds and other institutional investors.
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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