Deere & Co. (DE) Shares Down 2.1%
Deere & Co. (NYSE:DE) was down 2.1% during mid-day trading on Friday . The company traded as low as $79.84 and last traded at $80.48, with a volume of 2,338,448 shares trading hands. The stock had previously closed at $82.22.
A number of equities research analysts have recently issued reports on DE shares. Macquarie restated an “underperform” rating and set a $58.00 price target on shares of Deere & Co. in a report on Sunday, April 10th. Wells Fargo & Co. restated a “hold” rating on shares of Deere & Co. in a report on Friday, April 15th. Vetr lowered shares of Deere & Co. from a “strong-buy” rating to a “buy” rating and set a $90.60 price target on the stock. in a report on Tuesday, April 19th. Zacks Investment Research lowered shares of Deere & Co. from a “hold” rating to a “sell” rating in a report on Tuesday, April 26th. Finally, Morgan Stanley restated a “sell” rating on shares of Deere & Co. in a report on Saturday, May 14th. Seven analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $79.67.
The stock’s 50-day moving average price is $83.32 and its 200 day moving average price is $80.37. The firm has a market capitalization of $25.18 billion and a P/E ratio of 16.08.
Deere & Co. (NYSE:DE) last posted its quarterly earnings data 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. During the same quarter in the previous year, the business earned $2.03 EPS. The business earned $7.88 billion during the quarter. The firm’s revenue was down 3.9% compared to the same quarter last year. On average, equities analysts forecast that Deere & Co. will post $3.88 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 1st. Stockholders of record on Thursday, June 30th will be issued a $0.60 dividend. The ex-dividend date is Tuesday, June 28th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.00%.
A number of institutional investors have recently modified their holdings of the company. BHF Kleinwort Benson Group S.A. purchased a new position in shares of Deere & Co. during the fourth quarter worth $27,548,000. Diamond Hill Capital Management Inc. increased its position in shares of Deere & Co. by 20.1% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 808,702 shares of the company’s stock worth $61,680,000 after buying an additional 135,459 shares during the last quarter. Beacon Financial Group purchased a new position in shares of Deere & Co. during the fourth quarter worth $8,719,000. State of New Jersey Common Pension Fund D purchased a new position in shares of Deere & Co. during the fourth quarter worth $5,720,000. Finally, Zweig DiMenna Associates LLC increased its position in shares of Deere & Co. by 1,120.2% in the fourth quarter. Zweig DiMenna Associates LLC now owns 78,090 shares of the company’s stock worth $5,956,000 after buying an additional 71,690 shares during the last quarter.
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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