Deere & Company (NYSE:DE) – Investment analysts at William Blair lifted their FY2018 earnings per share estimates for Deere & Company in a research note issued on Tuesday. William Blair analyst L. De. Maria now expects that the industrial products company will earn $9.30 per share for the year, up from their prior estimate of $8.60.
Deere & Company (NYSE:DE) last issued its earnings results on Friday, February 16th. The industrial products company reported $1.31 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.16 by $0.15. Deere & Company had a return on equity of 27.18% and a net margin of 4.57%. The business had revenue of $5.97 billion during the quarter, compared to analysts’ expectations of $6.41 billion. During the same period in the prior year, the business earned $0.61 EPS. The business’s revenue for the quarter was up 27.2% compared to the same quarter last year.
Several other equities research analysts have also recently weighed in on DE. TheStreet cut Deere & Company from a “b+” rating to a “c+” rating in a report on Friday, February 16th. Zacks Investment Research raised Deere & Company from a “hold” rating to a “buy” rating and set a $178.00 price target for the company in a research report on Tuesday, February 13th. BMO Capital Markets reissued an “outperform” rating and issued a $195.00 price target (up from $190.00) on shares of Deere & Company in a research report on Wednesday. Wells Fargo & Co reissued an “outperform” rating and issued a $200.00 price target (up from $170.00) on shares of Deere & Company in a research report on Wednesday, January 10th. Finally, UBS Group reissued a “neutral” rating and issued a $175.00 price target (up from $150.00) on shares of Deere & Company in a research report on Tuesday. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and fourteen have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $170.86.
Shares of Deere & Company (DE) traded up $3.17 during mid-day trading on Thursday, hitting $165.26. The company’s stock had a trading volume of 666,937 shares, compared to its average volume of 2,440,392. Deere & Company has a twelve month low of $106.72 and a twelve month high of $175.26. The stock has a market cap of $53,263.07, a PE ratio of 37.68, a price-to-earnings-growth ratio of 2.40 and a beta of 0.75. The company has a quick ratio of 1.69, a current ratio of 1.98 and a debt-to-equity ratio of 2.85.
Several institutional investors and hedge funds have recently modified their holdings of DE. Fisher Asset Management LLC acquired a new stake in shares of Deere & Company in the third quarter valued at approximately $402,000. Rockefeller Financial Services Inc. boosted its stake in Deere & Company by 39.4% in the third quarter. Rockefeller Financial Services Inc. now owns 1,545 shares of the industrial products company’s stock worth $194,000 after buying an additional 437 shares in the last quarter. Bartlett & Co. LLC boosted its stake in Deere & Company by 552.8% in the third quarter. Bartlett & Co. LLC now owns 105,048 shares of the industrial products company’s stock worth $13,193,000 after buying an additional 88,955 shares in the last quarter. BB&T Corp boosted its stake in Deere & Company by 1.8% in the third quarter. BB&T Corp now owns 43,415 shares of the industrial products company’s stock worth $5,452,000 after buying an additional 770 shares in the last quarter. Finally, Harrington Investments INC purchased a new stake in shares of Deere & Company during the third quarter valued at approximately $388,000. Hedge funds and other institutional investors own 66.24% of the company’s stock.
In other Deere & Company news, VP Mary K.W. Jones sold 34,136 shares of the business’s stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $124.72, for a total transaction of $4,257,441.92. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider James M. Field sold 48,427 shares of the business’s stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $147.98, for a total value of $7,166,227.46. The disclosure for this sale can be found here. Insiders have sold a total of 239,872 shares of company stock worth $36,859,369 over the last ninety days. 0.74% of the stock is currently owned by corporate insiders.
The firm also recently announced a quarterly dividend, which was paid on Thursday, February 1st. Investors of record on Friday, December 29th were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.45%. The ex-dividend date was Thursday, December 28th. Deere & Company’s dividend payout ratio is currently 54.92%.
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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.
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