Deere & Company (NYSE:DE) – Analysts at Seaport Global Securities raised their Q2 2018 earnings per share (EPS) estimates for Deere & Company in a research note issued to investors on Tuesday. Seaport Global Securities analyst M. Shlisky now forecasts that the industrial products company will post earnings per share of $3.39 for the quarter, up from their prior estimate of $2.78. Seaport Global Securities currently has a “Hold” rating on the stock. Seaport Global Securities also issued estimates for Deere & Company’s Q3 2018 earnings at $2.53 EPS, Q4 2018 earnings at $2.60 EPS, FY2018 earnings at $9.87 EPS and FY2019 earnings at $11.21 EPS.
Other analysts have also issued research reports about the stock. Stifel Nicolaus boosted their target price on shares of Deere & Company to $161.00 and gave the company a “buy” rating in a research note on Monday, November 27th. Argus reiterated a “buy” rating and set a $165.00 target price on shares of Deere & Company in a research note on Monday, November 27th. They noted that the move was a valuation call. Citigroup reiterated a “buy” rating and set a $165.00 target price on shares of Deere & Company in a research note on Friday, November 24th. Credit Suisse Group reiterated a “buy” rating and set a $162.00 target price on shares of Deere & Company in a research note on Thursday, November 23rd. Finally, Wells Fargo & Co reiterated a “buy” rating and set a $170.00 target price on shares of Deere & Company in a research note on Thursday, November 23rd. Two investment 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 has an average rating of “Buy” and an average target price of $170.86.
Deere & Company (DE) traded up $1.10 during mid-day trading on Thursday, reaching $165.26. 546,120 shares of the company’s stock traded hands, compared to its average volume of 2,422,431. The company has a current ratio of 1.98, a quick ratio of 1.69 and a debt-to-equity ratio of 2.85. Deere & Company has a 12-month low of $106.93 and a 12-month high of $175.26. The company has a market capitalization of $52,396.74, a price-to-earnings ratio of 37.64, a price-to-earnings-growth ratio of 2.13 and a beta of 0.75.
Deere & Company (NYSE:DE) last issued its quarterly earnings results on Friday, February 16th. The industrial products company reported $1.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.16 by $0.15. The business had revenue of $5.97 billion during the quarter, compared to analyst estimates of $6.41 billion. Deere & Company had a net margin of 4.57% and a return on equity of 27.18%. The business’s revenue was up 27.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.61 earnings per share.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 1st. Investors of record on Friday, December 29th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 1.45%. The ex-dividend date was Thursday, December 28th. Deere & Company’s payout ratio is currently 54.92%.
In related news, insider James M. Field sold 48,427 shares of the company’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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Rajesh Kalathur sold 4,519 shares of the company’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 sold 239,872 shares of company stock valued at $36,859,369 in the last ninety days. Corporate insiders own 0.74% of the company’s stock.
A number of hedge funds have recently bought and sold shares of DE. Fisher Asset Management LLC acquired a new stake in Deere & Company in the 3rd quarter valued at about $402,000. Rockefeller Financial Services Inc. lifted its holdings in Deere & Company by 39.4% in the 3rd quarter. Rockefeller Financial Services Inc. now owns 1,545 shares of the industrial products company’s stock valued at $194,000 after acquiring an additional 437 shares during the last quarter. Bartlett & Co. LLC lifted its holdings in Deere & Company by 552.8% in the 3rd quarter. Bartlett & Co. LLC now owns 105,048 shares of the industrial products company’s stock valued at $13,193,000 after acquiring an additional 88,955 shares during the last quarter. BB&T Corp lifted its holdings in Deere & Company by 1.8% in the 3rd quarter. BB&T Corp now owns 43,415 shares of the industrial products company’s stock valued at $5,452,000 after acquiring an additional 770 shares during the last quarter. Finally, Harrington Investments INC acquired a new stake in Deere & Company in the 3rd quarter valued at about $388,000. 66.24% of the stock is owned by institutional investors and hedge funds.
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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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