Deere & Target of Unusually High Options Trading (DE)
Deere & Company (NYSE:DE) saw some unusual options trading on Monday. Stock traders acquired 731 call options on the company. This is an increase of 255% compared to the typical daily volume of 206 call options.
Several research analysts have recently commented on DE shares. Credit Suisse Group set a $132.00 target price on Deere & and gave the stock a “buy” rating in a report on Wednesday, April 12th. Barclays PLC reissued a “sell” rating and issued a $82.00 target price (up from $80.00) on shares of Deere & in a report on Tuesday, April 18th. BMO Capital Markets reissued a “buy” rating and issued a $128.00 target price on shares of Deere & in a report on Thursday, April 20th. J P Morgan Chase & Co raised Deere & to an “underweight” rating and boosted their target price for the stock from $90.00 to $94.00 in a report on Monday, May 1st. Finally, Stifel Nicolaus boosted their target price on Deere & from $126.00 to $135.00 and gave the stock a “buy” rating in a report on Monday, May 22nd. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and thirteen have given a buy rating to the stock. Deere & has an average rating of “Hold” and a consensus price target of $122.60.
In other news, CEO Samuel R. Allen sold 62,704 shares of the business’s stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $125.00, for a total value of $7,838,000.00. Following the transaction, the chief executive officer now directly owns 333,492 shares of the company’s stock, valued at approximately $41,686,500. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Marc A. Howze sold 6,624 shares of the business’s stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $119.59, for a total value of $792,164.16. Following the completion of the transaction, the vice president now directly owns 9,004 shares in the company, valued at $1,076,788.36. The disclosure for this sale can be found here. Insiders have sold 130,988 shares of company stock worth $16,451,037 over the last ninety days. Company insiders own 0.75% of the company’s stock.
A number of institutional investors have recently made changes to their positions in DE. PGGM Investments purchased a new position in shares of Deere & during the first quarter worth $26,179,000. Dai Ichi Life Insurance Company Ltd increased its position in shares of Deere & by 42.1% in the first quarter. Dai Ichi Life Insurance Company Ltd now owns 21,438 shares of the industrial products company’s stock worth $2,334,000 after buying an additional 6,353 shares in the last quarter. Nordea Investment Management AB increased its position in shares of Deere & by 1.1% in the first quarter. Nordea Investment Management AB now owns 124,936 shares of the industrial products company’s stock worth $13,601,000 after buying an additional 1,342 shares in the last quarter. Burney Co. increased its position in shares of Deere & by 1.8% in the first quarter. Burney Co. now owns 191,616 shares of the industrial products company’s stock worth $20,859,000 after buying an additional 3,348 shares in the last quarter. Finally, Ngam Advisors L.P. increased its position in shares of Deere & by 20.8% in the first quarter. Ngam Advisors L.P. now owns 427,136 shares of the industrial products company’s stock worth $46,498,000 after buying an additional 73,484 shares in the last quarter. 67.35% of the stock is owned by institutional investors and hedge funds.
Shares of Deere & (NYSE DE) opened at 132.41 on Thursday. The company has a market cap of $42.35 billion, a PE ratio of 23.84 and a beta of 0.67. Deere & has a 52-week low of $76.73 and a 52-week high of $132.50. The company has a 50 day moving average of $126.12 and a 200-day moving average of $115.78.
Deere & (NYSE:DE) last announced its earnings results on Friday, May 19th. The industrial products company reported $2.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.70 by $0.79. Deere & had a net margin of 6.52% and a return on equity of 24.85%. The business had revenue of $7.26 billion during the quarter, compared to the consensus estimate of $7.27 billion. During the same quarter last year, the firm earned $1.56 earnings per share. Deere &’s quarterly revenue was up 2.2% on a year-over-year basis. Analysts forecast that Deere & will post $6.37 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Friday, June 30th were paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date was Wednesday, June 28th. Deere &’s dividend payout ratio is presently 43.24%.
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About Deere &
Deere & Company is engaged in equipment operations. The Company is engaged in providing financial services. The Company operates through three business segments: agriculture and turf, construction and forestry, and financial services. The agriculture and turf segment manufactures and distributes a line of agriculture and turf equipment and related service parts.
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