Deere & Company (DE) Receives New Coverage from Analysts at Morgan Stanley
Morgan Stanley initiated coverage on shares of Deere & Company (NYSE:DE) in a research report sent to investors on Friday morning, Marketbeat.com reports. The brokerage issued an overweight rating and a $195.00 price target on the industrial products company’s stock.
Other research analysts have also recently issued reports about the stock. BMO Capital Markets reissued a buy rating and issued a $150.00 price objective on shares of Deere & Company in a research note on Thursday, November 2nd. Wells Fargo & Co reissued an outperform rating and issued a $200.00 price objective (up from $170.00) on shares of Deere & Company in a research note on Wednesday, January 10th. Piper Jaffray Companies reissued a neutral rating and issued a $160.00 price objective (up from $142.00) on shares of Deere & Company in a research note on Thursday, February 15th. ValuEngine raised shares of Deere & Company from a hold rating to a buy rating in a research note on Friday, February 2nd. Finally, Barclays raised shares of Deere & Company from a sector perform rating to an outperform rating and set a $171.00 price objective on the stock in a research note on Wednesday, January 10th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. Deere & Company currently has an average rating of Buy and an average price target of $172.07.
Deere & Company (NYSE DE) opened at $153.31 on Friday. Deere & Company has a fifty-two week low of $106.93 and a fifty-two week high of $175.26. The company has a market cap of $49,560.00, a P/E ratio of 20.83, a PEG ratio of 1.96 and a beta of 0.76. The company has a current ratio of 1.98, a quick ratio of 1.69 and a debt-to-equity ratio of 2.85.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 1st. Shareholders of record on Thursday, March 29th will be given a $0.60 dividend. The ex-dividend date is Wednesday, March 28th. This represents a $2.40 dividend on an annualized basis and a yield of 1.57%. Deere & Company’s dividend payout ratio is currently 32.61%.
In other news, VP Mary K.W. Jones sold 10,220 shares of Deere & Company stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $165.06, for a total transaction of $1,686,913.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Max A. Guinn sold 21,989 shares of Deere & Company stock in a transaction on Tuesday, December 5th. The stock was sold at an average price of $151.39, for a total transaction of $3,328,914.71. Following the transaction, the insider now owns 64,377 shares in the company, valued at approximately $9,746,034.03. The disclosure for this sale can be found here. Insiders sold 429,637 shares of company stock worth $70,259,744 in the last 90 days. Company insiders own 0.74% of the company’s stock.
Large investors have recently modified their holdings of the company. LeJeune Puetz Investment Counsel LLC acquired a new position in shares of Deere & Company during the fourth quarter worth $101,000. Icon Wealth Partners LLC acquired a new position in shares of Deere & Company during the fourth quarter worth $110,000. Pin Oak Investment Advisors Inc. acquired a new position in shares of Deere & Company during the fourth quarter worth $122,000. Cerebellum GP LLC acquired a new position in shares of Deere & Company during the fourth quarter worth $132,000. Finally, TCI Wealth Advisors Inc. lifted its holdings in shares of Deere & Company by 107.3% during the fourth quarter. TCI Wealth Advisors Inc. now owns 885 shares of the industrial products company’s stock worth $139,000 after purchasing an additional 458 shares during the period. Institutional investors own 66.24% of the company’s stock.
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Deere & Company Company Profile
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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