Deere & Company’s (DE) Hold Rating Reiterated at Seaport Global Securities

Seaport Global Securities reiterated their hold rating on shares of Deere & Company (NYSE:DE) in a research note released on Thursday morning.

A number of other equities research analysts have also recently issued reports on DE. Deutsche Bank restated a hold rating and set a $129.00 price target (down from $135.00) on shares of Deere & Company in a report on Monday, October 9th. Robert W. Baird restated a hold rating and set a $140.00 price target on shares of Deere & Company in a report on Thursday, October 12th. BMO Capital Markets reaffirmed a buy rating and set a $150.00 price objective on shares of Deere & Company in a research report on Thursday, November 2nd. Zacks Investment Research raised shares of Deere & Company from a hold rating to a buy rating and set a $150.00 price objective for the company in a research report on Thursday, November 2nd. Finally, Royal Bank of Canada reaffirmed a sector perform rating and set a $155.00 price objective (up previously from $134.00) on shares of Deere & Company in a research report on Wednesday, November 22nd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and fourteen have given a buy rating to the company. The company presently has a consensus rating of Buy and a consensus price target of $151.87.

Deere & Company (NYSE:DE) traded up $2.42 during mid-day trading on Thursday, reaching $170.32. 1,612,481 shares of the company’s stock were exchanged, compared to its average volume of 1,900,442. The company has a debt-to-equity ratio of 2.71, a current ratio of 2.12 and a quick ratio of 1.95. Deere & Company has a one year low of $105.04 and a one year high of $170.73. The company has a market capitalization of $55,057.13, a PE ratio of 25.65, a price-to-earnings-growth ratio of 2.55 and a beta of 0.77.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Wednesday, November 22nd. The industrial products company reported $1.57 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.47 by $0.10. Deere & Company had a net margin of 7.22% and a return on equity of 26.31%. The company had revenue of $7.09 billion during the quarter, compared to analysts’ expectations of $6.91 billion. During the same period in the prior year, the company earned $0.90 earnings per share. The business’s quarterly revenue was up 25.6% compared to the same quarter last year. equities analysts forecast that Deere & Company will post 8.15 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Friday, December 29th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 1.41%. The ex-dividend date is Thursday, December 28th. Deere & Company’s dividend payout ratio (DPR) is presently 36.14%.

In related news, insider Max A. Guinn sold 11,235 shares of the stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $168.68, for a total value of $1,895,119.80. Following the completion of the transaction, the insider now owns 39,406 shares of the company’s stock, valued at $6,647,004.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John C. May II sold 18,626 shares of the stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $130.76, for a total transaction of $2,435,535.76. Following the completion of the transaction, the insider now directly owns 37,462 shares of the company’s stock, valued at approximately $4,898,531.12. The disclosure for this sale can be found here. Insiders sold 246,097 shares of company stock valued at $35,868,394 in the last three months. Company insiders own 0.85% of the company’s stock.

A number of large investors have recently bought and sold shares of DE. Marco Investment Management LLC grew its stake in Deere & Company by 0.3% during the second quarter. Marco Investment Management LLC now owns 1,874 shares of the industrial products company’s stock worth $232,000 after buying an additional 6 shares during the last quarter. Northwest Quadrant Wealth Management LLC grew its stake in Deere & Company by 0.4% during the second quarter. Northwest Quadrant Wealth Management LLC now owns 3,165 shares of the industrial products company’s stock worth $418,000 after buying an additional 13 shares during the last quarter. YorkBridge Wealth Partners LLC grew its stake in Deere & Company by 1.1% during the second quarter. YorkBridge Wealth Partners LLC now owns 1,236 shares of the industrial products company’s stock worth $154,000 after buying an additional 13 shares during the last quarter. Manchester Capital Management LLC grew its stake in Deere & Company by 3.6% during the second quarter. Manchester Capital Management LLC now owns 1,708 shares of the industrial products company’s stock worth $211,000 after buying an additional 60 shares during the last quarter. Finally, WMS Partners LLC grew its stake in Deere & Company by 2.7% during the second quarter. WMS Partners LLC now owns 2,468 shares of the industrial products company’s stock worth $305,000 after buying an additional 65 shares during the last quarter. 67.37% of the stock is owned by hedge funds and other institutional investors.

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About Deere & Company

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.

Analyst Recommendations for Deere & Company (NYSE:DE)

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