Deere & Co. (DE) Receives Sector Perform Rating from RBC Capital Markets
RBC Capital Markets reiterated their sector perform rating on shares of Deere & Co. (NYSE:DE) in a research note released on Friday. They currently have a $98.00 price objective on the stock, up from their previous price objective of $80.00.
A number of other research firms have also weighed in on DE. Wells Fargo & Co. raised Deere & Co. from a market perform rating to an outperform rating in a research note on Monday, October 10th. Clarkson Capital raised Deere & Co. from a neutral rating to a buy rating in a research note on Tuesday, October 18th. Barclays PLC increased their price objective on Deere & Co. from $63.00 to $68.00 and gave the company an underweight rating in a research note on Wednesday, October 12th. Argus increased their price objective on Deere & Co. from $90.00 to $98.00 and gave the company a buy rating in a research note on Tuesday, August 23rd. Finally, Jefferies Group dropped their price objective on Deere & Co. from $90.00 to $85.00 and set a hold rating for the company in a research note on Thursday, August 25th. Five equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and ten have given a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $90.24.
Shares of Deere & Co. (NYSE:DE) opened at 100.20 on Friday. Deere & Co. has a 52 week low of $70.16 and a 52 week high of $104.83. The firm’s 50-day moving average is $90.50 and its 200-day moving average is $84.55. The company has a market cap of $31.54 billion, a price-to-earnings ratio of 20.83 and a beta of 0.71.
Deere & Co. (NYSE:DE) last issued its quarterly earnings results on Wednesday, November 23rd. The company reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.50. Deere & Co. had a net margin of 5.72% and a return on equity of 21.54%. The business had revenue of $6.52 billion for the quarter. During the same quarter in the previous year, the business earned $1.08 earnings per share. The firm’s revenue was down 4.8% on a year-over-year basis. Equities research analysts predict that Deere & Co. will post $4.32 earnings per share for the current year.
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In other Deere & Co. news, insider John C. May II sold 18,614 shares of the firm’s stock in a transaction dated Wednesday, November 23rd. The stock was sold at an average price of $96.46, for a total value of $1,795,506.44. Following the transaction, the insider now directly owns 28,926 shares of the company’s stock, valued at $2,790,201.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Max A. Guinn sold 36,402 shares of the firm’s stock in a transaction dated Friday, November 25th. The stock was sold at an average price of $102.94, for a total value of $3,747,221.88. Following the completion of the transaction, the insider now directly owns 55,427 shares in the company, valued at $5,705,655.38. The disclosure for this sale can be found here. 0.75% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in DE. Cutler Investment Counsel LLC boosted its position in shares of Deere & Co. by 0.8% in the third quarter. Cutler Investment Counsel LLC now owns 76,875 shares of the company’s stock valued at $6,561,000 after buying an additional 598 shares during the last quarter. D.A. Davidson & CO. boosted its position in Deere & Co. by 21.3% in the third quarter. D.A. Davidson & CO. now owns 167,901 shares of the company’s stock worth $14,328,000 after buying an additional 29,514 shares during the last quarter. Whalerock Point Partners LLC bought a new position in Deere & Co. during the third quarter worth $367,000. Piedmont Investment Advisors LLC bought a new position in Deere & Co. during the third quarter worth $9,379,000. Finally, Quantitative Systematic Strategies LLC bought a new position in Deere & Co. during the third quarter worth $590,000. 71.68% of the stock is currently owned by institutional investors and hedge funds.
Deere & Co. Company Profile
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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