Deere & Company (NYSE:DE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Monday.
According to Zacks, “Deere’s top and bottom lines recorded year-over-year growth in first-quarter fiscal 2018. Earnings beat the Zacks Consensus Estimate, while revenues missed the Consensus mark. The company is poised to gain from the Wirtgen acquisition. The buyout is anticipated to add about 56% of its Construction & Forestry segment’s sales in fiscal 2018. Further, higher housing starts, improving oil and gas sector, and recovery in the dairy and livestock sectors in the EU28 region will stoke growth. The stock has also outperformed the industry over the past year. However, Deere’s agriculture business will be affected in fiscal 2018 due to high global grain and oil seed stocks-to-use ratios. Moreover, its results in the near term will be impacted by geopolitical risks EU28 region, the U.S. tax reform and elevated expenses.”
Other equities research analysts have also recently issued reports about the stock. BMO Capital Markets reaffirmed a “buy” rating and issued a $150.00 price objective on shares of Deere & Company in a research report on Thursday, November 2nd. Credit Suisse Group reaffirmed a “buy” rating and issued a $162.00 price objective on shares of Deere & Company in a research report on Thursday, November 23rd. Wells Fargo & Co reaffirmed a “buy” rating and issued a $170.00 price objective on shares of Deere & Company in a research report on Thursday, November 23rd. Deutsche Bank raised shares of Deere & Company from a “hold” rating to a “buy” rating and boosted their price objective for the company from $149.00 to $167.00 in a research report on Thursday, November 23rd. Finally, Stifel Nicolaus boosted their price objective on shares of Deere & Company to $161.00 and gave the company a “buy” rating in a research report on Monday, November 27th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and thirteen have issued a buy rating to the company. Deere & Company has a consensus rating of “Hold” and a consensus target price of $159.70.
Deere & Company (NYSE:DE) traded up $2.63 on Monday, reaching $169.44. 6,619,801 shares of the company traded hands, compared to its average volume of 2,454,552. The company has a market cap of $54,770.00, a PE ratio of 25.37, a P/E/G ratio of 2.50 and a beta of 0.75. Deere & Company has a 1-year low of $106.72 and a 1-year high of $175.26. The company has a quick ratio of 1.69, a current ratio of 1.98 and a debt-to-equity ratio of 2.85.
Deere & Company (NYSE:DE) last posted its quarterly earnings data on Friday, February 16th. The industrial products company reported $1.31 EPS for the quarter, beating the consensus estimate of $1.16 by $0.15. The business had revenue of $5.97 billion for the quarter, compared to analysts’ expectations of $6.41 billion. Deere & Company had a net margin of 4.57% and a return on equity of 27.18%. The firm’s revenue was up 27.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.61 EPS. equities research analysts predict that Deere & Company will post 8.27 EPS for the current fiscal year.
In other news, VP Mary K.W. Jones sold 34,136 shares of the business’s stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $124.72, for a total transaction of $4,257,441.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Cory J. Reed sold 6,416 shares of the business’s stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $151.54, for a total transaction of $972,280.64. Following the transaction, the insider now owns 11,383 shares in the company, valued at $1,724,979.82. 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 over the last three months. Insiders own 0.74% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Bartlett & Co. LLC increased its stake in shares of Deere & Company by 552.8% during the 3rd quarter. Bartlett & Co. LLC now owns 105,048 shares of the industrial products company’s stock worth $13,193,000 after purchasing an additional 88,955 shares during the last quarter. Bank of Nova Scotia Trust Co. acquired a new position in shares of Deere & Company during the 3rd quarter worth about $302,000. California Public Employees Retirement System increased its stake in shares of Deere & Company by 8.9% during the 3rd quarter. California Public Employees Retirement System now owns 796,383 shares of the industrial products company’s stock worth $100,018,000 after purchasing an additional 65,031 shares during the last quarter. IFP Advisors Inc increased its stake in shares of Deere & Company by 7.7% during the 3rd quarter. IFP Advisors Inc now owns 16,722 shares of the industrial products company’s stock worth $2,100,000 after purchasing an additional 1,197 shares during the last quarter. Finally, Bollard Group LLC increased its stake in shares of Deere & Company by 0.8% during the 4th quarter. Bollard Group LLC now owns 89,757 shares of the industrial products company’s stock worth $14,048,000 after purchasing an additional 679 shares during the last quarter. Institutional investors own 66.24% 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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