Deere & Co. (DE) Stock Rating Upgraded by Macquarie
Macquarie upgraded shares of Deere & Co. (NYSE:DE) from an underperform rating to a neutral rating in a report published on Friday morning, The Fly reports.
Several other equities analysts also recently weighed in on DE. JPMorgan Chase & Co. restated an underweight rating on shares of Deere & Co. in a report on Friday, October 21st. RBC Capital Markets began coverage on Deere & Co. in a report on Thursday, November 10th. They set an outperform rating for the company. Royal Bank Of Canada raised their price target on Deere & Co. from $80.00 to $98.00 and gave the company a sector perform rating in a report on Friday, November 25th. Oppenheimer Holdings Inc. downgraded Deere & Co. from an outperform rating to a market perform rating in a report on Thursday, October 27th. Finally, BMO Capital Markets restated an outperform rating and set a $96.00 price target on shares of Deere & Co. in a report on Thursday, August 18th. Five equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and ten have given a buy rating to the company. The company presently has an average rating of Hold and a consensus price target of $90.24.
Shares of Deere & Co. (NYSE:DE) opened at 100.20 on Friday. The stock has a 50 day moving average of $90.50 and a 200-day moving average of $84.55. The stock has a market capitalization of $31.54 billion, a P/E ratio of 20.83 and a beta of 0.71. Deere & Co. has a one year low of $70.16 and a one year high of $104.83.
Deere & Co. (NYSE:DE) last issued its quarterly earnings results on Wednesday, November 23rd. The company reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.50. Deere & Co. had a return on equity of 21.54% and a net margin of 5.72%. The firm earned $6.52 billion during the quarter. During the same quarter in the previous year, the business earned $1.08 earnings per share. Deere & Co.’s revenue was down 4.8% compared to the same quarter last year. Equities analysts forecast that Deere & Co. will post $4.32 earnings per share for the current year.
In related news, insider Max A. Guinn sold 36,402 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider now directly owns 55,427 shares of the company’s stock, valued at approximately $5,705,655.38. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider John C. May II sold 18,614 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the insider now directly owns 28,926 shares in the company, valued at $2,790,201.96. The disclosure for this sale can be found here. Insiders own 0.75% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Deere & Co. by 1.5% in the second quarter. Vanguard Group Inc. now owns 17,767,247 shares of the company’s stock worth $1,439,858,000 after buying an additional 265,118 shares in the last quarter. FMR LLC boosted its position in Deere & Co. by 37.2% in the second quarter. FMR LLC now owns 9,139,259 shares of the company’s stock worth $740,647,000 after buying an additional 2,477,175 shares in the last quarter. Generation Investment Management LLP boosted its position in Deere & Co. by 12.8% in the third quarter. Generation Investment Management LLP now owns 6,838,253 shares of the company’s stock worth $583,645,000 after buying an additional 775,827 shares in the last quarter. First Eagle Investment Management LLC boosted its position in Deere & Co. by 20.4% in the third quarter. First Eagle Investment Management LLC now owns 6,325,129 shares of the company’s stock worth $539,850,000 after buying an additional 1,072,390 shares in the last quarter. Finally, Primecap Management Co. CA boosted its position in Deere & Co. by 3.1% in the second quarter. Primecap Management Co. CA now owns 5,451,419 shares of the company’s stock worth $441,783,000 after buying an additional 164,900 shares in the last quarter. 71.68% of the stock is currently owned by institutional investors.
About Deere & Co.
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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