Deere & Company (NYSE:DE) was upgraded by stock analysts at Barclays from a “sector perform” rating to an “outperform” rating in a research note issued on Wednesday, January 10th. The brokerage presently has a $171.00 price target on the industrial products company’s stock. Barclays’ target price indicates a potential upside of 1.88% from the stock’s previous close.
A number of other equities research analysts have also commented on the stock. Deutsche Bank upped their price objective on shares of Deere & Company from $129.00 to $149.00 and gave the company a “hold” rating in a research note on Thursday, November 16th. Jefferies Group reaffirmed a “hold” rating and issued a $150.00 price objective on shares of Deere & Company in a research note on Thursday, November 23rd. Zacks Investment Research raised shares of Deere & Company from a “hold” rating to a “buy” rating and set a $150.00 price objective on the stock in a research note on Thursday, November 2nd. Citigroup reaffirmed a “buy” rating and issued a $165.00 price objective on shares of Deere & Company in a research note on Friday, November 24th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $155.00 price objective (up from $134.00) on shares of Deere & Company in a research note on Wednesday, November 22nd. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and fourteen have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $152.13.
Shares of Deere & Company (DE) opened at $167.85 on Wednesday. Deere & Company has a 1-year low of $106.62 and a 1-year high of $171.96. The company has a current ratio of 2.12, a quick ratio of 1.95 and a debt-to-equity ratio of 2.71. The firm has a market cap of $53,796.44 and a P/E ratio of 25.28.
Deere & Company (NYSE:DE) last posted its earnings results on Wednesday, November 22nd. The industrial products company reported $1.57 earnings per share for the quarter, topping 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 firm had revenue of $7.09 billion for the quarter, compared to analyst estimates of $6.91 billion. During the same period in the previous year, the firm posted $0.90 EPS. The company’s revenue for the quarter was up 25.6% compared to the same quarter last year. equities analysts predict that Deere & Company will post 8.15 earnings per share for the current fiscal year.
In other Deere & Company news, insider Pentz Markwart Von sold 24,143 shares of the company’s stock in a transaction on Monday, November 6th. The shares were sold at an average price of $135.33, for a total transaction of $3,267,272.19. Following the transaction, the insider now owns 57,086 shares in the company, valued at $7,725,448.38. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Mary K.W. Jones sold 34,136 shares of the company’s stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $124.72, for a total transaction of $4,257,441.92. The disclosure for this sale can be found here. Over the last three months, insiders have sold 211,746 shares of company stock worth $31,325,415. 0.74% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Harel Insurance Investments & Financial Services Ltd. raised its holdings in Deere & Company by 193.8% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 5,885 shares of the industrial products company’s stock worth $921,000 after buying an additional 3,882 shares during the last quarter. Welch Group LLC raised its holdings in Deere & Company by 47.9% during the fourth quarter. Welch Group LLC now owns 3,244 shares of the industrial products company’s stock worth $508,000 after buying an additional 1,050 shares during the last quarter. Summit Securities Group LLC raised its holdings in shares of Deere & Company by 43.3% in the fourth quarter. Summit Securities Group LLC now owns 13,400 shares of the industrial products company’s stock valued at $2,097,000 after purchasing an additional 4,046 shares during the last quarter. Family Legacy Inc. purchased a new stake in shares of Deere & Company in the fourth quarter valued at about $458,000. Finally, Allied Investment Advisors LLC purchased a new stake in shares of Deere & Company in the fourth quarter valued at about $4,603,000. Hedge funds and other institutional investors own 67.31% 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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