Deere & Company (NYSE:DE) had its price objective dropped by Wells Fargo & Co from $185.00 to $170.00 in a research note issued to investors on Monday, The Fly reports. The firm currently has an “outperform” rating on the industrial products company’s stock. Wells Fargo & Co‘s target price suggests a potential upside of 11.77% from the company’s previous close. The analysts noted that the move was a valuation call.
Several other brokerages also recently commented on DE. Robert W. Baird cut their price target on shares of Deere & Company from $170.00 to $150.00 and set a “positive” rating for the company in a report on Tuesday, August 13th. BMO Capital Markets reissued an “outperform” rating and issued a $175.00 price target (down from $195.00) on shares of Deere & Company in a report on Monday, May 27th. Royal Bank of Canada cut their price target on shares of Deere & Company from $190.00 to $175.00 and set an “outperform” rating for the company in a report on Monday, May 20th. Macquarie set a $132.00 price target on shares of Deere & Company and gave the company a “hold” rating in a report on Monday, May 20th. Finally, Stephens initiated coverage on shares of Deere & Company in a report on Wednesday, August 14th. They issued an “equal weight” rating and a $160.00 price target for the company. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and thirteen have issued a buy rating to the company. Deere & Company currently has a consensus rating of “Hold” and a consensus price target of $166.89.
Deere & Company stock opened at $152.10 on Monday. Deere & Company has a 1-year low of $128.32 and a 1-year high of $171.22. The firm has a market capitalization of $47.31 billion, a price-to-earnings ratio of 16.20, a P/E/G ratio of 1.85 and a beta of 1.10. The company has a current ratio of 1.99, a quick ratio of 1.73 and a debt-to-equity ratio of 2.38. The firm has a 50 day simple moving average of $160.24 and a 200 day simple moving average of $158.37.
Deere & Company (NYSE:DE) last released its quarterly earnings data on Friday, August 16th. The industrial products company reported $2.71 earnings per share for the quarter, missing analysts’ consensus estimates of $2.80 by ($0.09). Deere & Company had a net margin of 8.55% and a return on equity of 27.75%. The business had revenue of $8.97 billion during the quarter, compared to analysts’ expectations of $9.38 billion. During the same quarter in the prior year, the firm posted $2.59 earnings per share. The firm’s quarterly revenue was down 3.4% on a year-over-year basis. On average, equities research analysts forecast that Deere & Company will post 10.17 EPS for the current year.
In other news, COO John C. May II sold 5,228 shares of Deere & Company stock in a transaction on Friday, July 26th. The shares were sold at an average price of $170.00, for a total transaction of $888,760.00. Following the completion of the sale, the chief operating officer now directly owns 49,310 shares of the company’s stock, valued at approximately $8,382,700. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO John C. May II sold 16,468 shares of Deere & Company stock in a transaction on Friday, June 21st. The stock was sold at an average price of $163.21, for a total transaction of $2,687,742.28. Following the sale, the chief operating officer now directly owns 60,550 shares of the company’s stock, valued at $9,882,365.50. The disclosure for this sale can be found here. Insiders own 0.71% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of DE. SRS Capital Advisors Inc. bought a new stake in Deere & Company in the second quarter worth $28,000. Private Ocean LLC lifted its stake in Deere & Company by 560.0% in the first quarter. Private Ocean LLC now owns 198 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 168 shares during the last quarter. Ellis Investment Partners LLC bought a new stake in Deere & Company in the first quarter worth $33,000. Arcus Capital Partners LLC bought a new stake in Deere & Company in the second quarter worth $33,000. Finally, Orrstown Financial Services Inc. lifted its stake in Deere & Company by 116.0% in the second quarter. Orrstown Financial Services Inc. now owns 216 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 116 shares during the last quarter. 67.67% of the stock is owned by institutional investors.
Deere & Company Company Profile
Deere & Company manufactures and distributes various equipment worldwide. The company operates through three segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment offers agriculture and turf equipment, and related parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; and tillage, seeding, and application equipment.
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