Deere & Company (NYSE:DE)‘s stock had its “neutral” rating reissued by investment analysts at JPMorgan Chase & Co. in a research note issued on Tuesday. They currently have a $170.00 target price on the industrial products company’s stock, up from their prior target price of $150.00. JPMorgan Chase & Co.’s target price points to a potential upside of 4.88% from the company’s current price.
DE has been the subject of several other reports. Zacks Investment Research downgraded Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday. Deutsche Bank lifted their target price on Deere & Company from $129.00 to $149.00 and gave the stock a “hold” rating in a research note on Thursday, November 16th. Credit Suisse Group reiterated an “outperform” rating and set a $231.00 target price (up from $198.00) on shares of Deere & Company in a research note on Tuesday. Seaport Global Securities reiterated a “hold” rating on shares of Deere & Company in a research note on Thursday, January 18th. Finally, Jefferies Group reiterated a “hold” rating and set a $175.00 target price on shares of Deere & Company in a research note on Friday, February 16th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and fourteen have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $170.86.
Deere & Company (NYSE:DE) opened at $162.09 on Tuesday. The company has a debt-to-equity ratio of 2.85, a current ratio of 1.98 and a quick ratio of 1.69. The firm has a market capitalization of $52,400.00, a P/E ratio of 24.26, a price-to-earnings-growth ratio of 2.50 and a beta of 0.75. Deere & Company has a one year low of $106.72 and a one year high of $175.26.
Deere & Company (NYSE:DE) last posted its quarterly earnings results on Friday, February 16th. The industrial products company reported $1.31 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.16 by $0.15. The firm had revenue of $5.97 billion during the quarter, compared to the consensus estimate of $6.41 billion. Deere & Company had a return on equity of 27.18% and a net margin of 4.57%. The business’s revenue was up 27.2% compared to the same quarter last year. During the same period last year, the company earned $0.61 earnings per share. equities research analysts predict that Deere & Company will post 8.27 EPS for the current year.
In related news, CFO Rajesh Kalathur sold 4,519 shares of Deere & Company stock in a transaction that occurred on 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider James M. Field sold 48,427 shares of Deere & Company stock in a transaction that occurred on Tuesday, November 28th. The stock was 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. Over the last three months, insiders have sold 207,689 shares of company stock valued at $31,517,956. 0.74% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Colonial Trust Advisors raised its holdings in Deere & Company by 11.0% in the 4th quarter. Colonial Trust Advisors now owns 29,610 shares of the industrial products company’s stock valued at $4,634,000 after acquiring an additional 2,931 shares in the last quarter. Xact Kapitalforvaltning AB raised its holdings in Deere & Company by 6.8% in the 4th quarter. Xact Kapitalforvaltning AB now owns 55,064 shares of the industrial products company’s stock valued at $8,618,000 after acquiring an additional 3,529 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in Deere & Company by 2.5% in the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 206,957 shares of the industrial products company’s stock valued at $32,391,000 after acquiring an additional 5,003 shares in the last quarter. Pin Oak Investment Advisors Inc. acquired a new position in Deere & Company in the 4th quarter valued at $122,000. Finally, Sawtooth Solutions LLC acquired a new position in Deere & Company in the 4th quarter valued at $225,000. 66.24% 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.
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