Deere & Co. (DE) Rating Reiterated by JPMorgan Chase & Co.
Deere & Co. (NYSE:DE)‘s stock had its “underweight” rating restated by research analysts at JPMorgan Chase & Co. in a research note issued to investors on Wednesday.
Several other analysts also recently weighed in on DE. Vetr upgraded shares of Deere & Co. from a “hold” rating to a “buy” rating and set a $80.57 price objective on the stock in a research report on Monday, August 15th. BMO Capital Markets reissued an “outperform” rating and set a $96.00 target price on shares of Deere & Co. in a research note on Thursday, August 18th. Jefferies Group reissued a “hold” rating and set a $70.00 target price on shares of Deere & Co. in a research note on Friday, August 19th. Morgan Stanley raised their target price on shares of Deere & Co. from $70.00 to $76.00 and gave the company an “underweight” rating in a research note on Monday, August 22nd. Finally, Barclays PLC reissued an “underweight” rating and set a $63.00 target price on shares of Deere & Co. in a research note on Monday, August 22nd. Five equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have issued a buy rating to the company’s stock. Deere & Co. has a consensus rating of “Hold” and a consensus target price of $90.24.
Shares of Deere & Co. (NYSE:DE) opened at 100.35 on Wednesday. Deere & Co. has a one year low of $70.16 and a one year high of $104.83. The stock’s 50 day moving average is $89.76 and its 200-day moving average is $84.31. The firm has a market cap of $31.59 billion, a P/E ratio of 20.86 and a beta of 0.71.
Deere & Co. (NYSE:DE) last issued its quarterly earnings data on Wednesday, November 23rd. The company reported $0.90 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.50. The firm had revenue of $6.52 billion for the quarter. Deere & Co. had a net margin of 5.72% and a return on equity of 21.54%. The company’s revenue for the quarter was down 4.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.08 earnings per share. Analysts anticipate that Deere & Co. will post $4.32 EPS for the current fiscal year.
In other Deere & Co. news, insider Max A. Guinn sold 36,402 shares of Deere & Co. stock in a transaction that occurred on Friday, November 25th. The shares were sold at an average price of $102.94, for a total value of $3,747,221.88. Following the completion of the sale, the insider now directly owns 55,427 shares in the company, valued at $5,705,655.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John C. May II sold 18,614 shares of Deere & Co. stock in a transaction that occurred on Wednesday, November 23rd. The shares were sold at an average price of $96.46, for a total transaction of $1,795,506.44. Following the completion of the sale, the insider now owns 28,926 shares of the company’s stock, valued at $2,790,201.96. The disclosure for this sale can be found here. 0.75% of the stock is currently owned by company insiders.
A number of hedge funds have recently bought and sold shares of DE. Euclid Advisors LLC acquired a new stake in Deere & Co. during the first quarter worth about $1,170,000. Summit Financial Wealth Advisors LLC raised its position in Deere & Co. by 47.8% in the second quarter. Summit Financial Wealth Advisors LLC now owns 9,870 shares of the company’s stock worth $800,000 after buying an additional 3,190 shares in the last quarter. Iowa State Bank purchased a new position in Deere & Co. during the second quarter worth approximately $151,000. First National Bank & Trust Co. of Newtown purchased a new position in Deere & Co. during the second quarter worth approximately $202,000. Finally, Marshwinds Advisory Co. raised its position in Deere & Co. by 5.7% in the second quarter. Marshwinds Advisory Co. now owns 10,276 shares of the company’s stock worth $833,000 after buying an additional 550 shares in the last quarter. Hedge funds and other institutional investors own 71.68% of the company’s stock.
About Deere & Co.
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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