Deere & Company (NYSE:DE) Receives “Hold” Rating from Seaport Global Securities

Deere & Company (NYSE:DE)‘s stock had its “hold” rating restated by equities research analysts at Seaport Global Securities in a research note issued on Thursday, January 18th.

A number of other research firms have also weighed in on DE. Deutsche Bank raised Deere & Company from a “hold” rating to a “buy” rating and upped their price objective for the stock from $149.00 to $167.00 in a research report on Thursday, November 23rd. Zacks Investment Research raised Deere & Company from a “hold” rating to a “buy” rating and set a $150.00 target price on the stock in a report on Thursday, November 2nd. Barclays initiated coverage on Deere & Company in a report on Tuesday, December 12th. They set an “overweight” rating and a $167.00 price objective on the stock. Citigroup raised their price objective on Deere & Company from $165.00 to $200.00 and gave the stock a “buy” rating in a report on Tuesday, January 16th. Finally, ValuEngine raised Deere & Company from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $155.21.

Shares of Deere & Company (NYSE DE) traded up $4.41 during trading on Thursday, hitting $159.21. The stock had a trading volume of 2,340,000 shares, compared to its average volume of 2,230,000. The firm has a market cap of $51,150.00, a PE ratio of 23.94, a P/E/G ratio of 2.32 and a beta of 0.75. Deere & Company has a fifty-two week low of $106.72 and a fifty-two week 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.

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

In other news, insider James M. Field sold 22,095 shares of the business’s stock in a transaction dated Friday, January 12th. The shares were sold at an average price of $170.06, for a total value of $3,757,475.70. Following the completion of the sale, the insider now owns 95,832 shares of the company’s stock, valued at approximately $16,297,189.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Rajesh Kalathur sold 4,519 shares of the business’s stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $148.92, for a total transaction of $672,969.48. Following the completion of the sale, the chief financial officer now directly owns 36,288 shares of the company’s stock, valued at approximately $5,404,008.96. The disclosure for this sale can be found here. Insiders have sold a total of 187,603 shares of company stock worth $28,058,143 in the last 90 days. Company insiders own 0.74% of the company’s stock.

Institutional investors have recently bought and sold shares of the business. LeJeune Puetz Investment Counsel LLC acquired a new stake in shares of Deere & Company in the 4th quarter worth approximately $101,000. Cerebellum GP LLC acquired a new stake in shares of Deere & Company in the 4th quarter worth approximately $132,000. TCI Wealth Advisors Inc. lifted its stake in shares of Deere & Company by 107.3% in the 4th quarter. TCI Wealth Advisors Inc. now owns 885 shares of the industrial products company’s stock worth $139,000 after acquiring an additional 458 shares during the period. Wealthcare Advisory Partners LLC acquired a new stake in shares of Deere & Company in the 3rd quarter worth approximately $144,000. Finally, Harfst & Associates Inc. lifted its stake in shares of Deere & Company by 44.2% in the 2nd quarter. Harfst & Associates Inc. now owns 1,175 shares of the industrial products company’s stock worth $145,000 after acquiring an additional 360 shares during the period. 66.84% of the stock is owned by hedge funds and other institutional investors.

ILLEGAL ACTIVITY WARNING: This article was first reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are accessing this article on another publication, it was illegally copied and republished in violation of international copyright and trademark law. The original version of this article can be accessed at https://www.dispatchtribunal.com/2018/02/12/deere-companys-de-hold-rating-reiterated-at-seaport-global-securities.html.

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)

Receive News & Ratings for Deere & Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Deere & Company and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply