Deere & Co. (DE) Sees Large Volume Increase
Deere & Co. (NYSE:DE) shares saw unusually-strong trading volume on Monday . Approximately 4,182,732 shares traded hands during trading, an increase of 34% from the previous session’s volume of 3,131,959 shares.The stock last traded at $77.41 and had previously closed at $80.12.
Several equities research analysts recently commented on DE shares. Macquarie reiterated an “underperform” rating and set a $58.00 price target on shares of Deere & Co. in a research note on Sunday, April 10th. Wells Fargo & Co. restated a “hold” rating on shares of Deere & Co. in a research note 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 objective on the stock. in a research note on Tuesday, April 19th. Zacks Investment Research lowered shares of Deere & Co. from a “hold” rating to a “sell” rating in a research note on Tuesday, April 26th. Finally, Morgan Stanley restated a “sell” rating on shares of Deere & Co. in a research note on Saturday, May 14th. Eight investment analysts have rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $79.24.
The stock has a market capitalization of $24.49 billion and a price-to-earnings ratio of 15.63. The firm’s 50-day moving average price is $83.10 and its 200-day moving average price is $80.46.
Deere & Co. (NYSE:DE) last issued its earnings results on Friday, May 20th. The company reported $1.56 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.48 by $0.08. The business earned $7.88 billion during the quarter. During the same period in the prior year, the firm posted $2.03 EPS. The business’s quarterly revenue was down 3.9% compared to the same quarter last year. On average, equities research analysts forecast that Deere & Co. will post $3.88 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, August 1st. Shareholders 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 yield of 3.08%.
A number of large investors have modified their holdings of DE. Trexquant Investment LP increased its stake in shares of Deere & Co. by 78.3% in the fourth quarter. Trexquant Investment LP now owns 14,800 shares of the company’s stock worth $1,129,000 after buying an additional 6,500 shares during the last quarter. GSA Capital Partners LLP boosted its stake in shares of Deere & Co. by 54.0% in the fourth quarter. GSA Capital Partners LLP now owns 17,158 shares of the company’s stock worth $1,309,000 after buying an additional 6,018 shares during the period. Herndon Capital Management LLC boosted its stake in shares of Deere & Co. by 47.7% in the fourth quarter. Herndon Capital Management LLC now owns 18,244 shares of the company’s stock worth $1,391,000 after buying an additional 5,893 shares during the period. Airain ltd purchased a new stake in shares of Deere & Co. during the fourth quarter worth approximately $1,396,000. Finally, Tredje AP fonden boosted its stake in shares of Deere & Co. by 1.1% in the fourth quarter. Tredje AP fonden now owns 20,334 shares of the company’s stock worth $1,563,000 after buying an additional 214 shares during the period.
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.