Deere & Co. (NYSE:DE) was downgraded by equities research analysts at TheStreet from a “buy” rating to a “hold” rating in a report released on Monday.
DE has been the topic of several other reports. Argus lifted their target price on Deere & Co. from $90.00 to $98.00 and gave the stock a “buy” rating in a report on Tuesday, August 23rd. Jefferies Group cut their target price on Deere & Co. from $90.00 to $85.00 and set a “hold” rating on the stock in a report on Thursday, August 25th. Piper Jaffray Cos. reaffirmed an “underweight” rating and set a $70.00 target price on shares of Deere & Co. in a report on Tuesday, August 30th. Morgan Stanley reaffirmed a “sell” rating on shares of Deere & Co. in a report on Thursday, June 30th. Finally, Barclays PLC reaffirmed an “underweight” rating and set a $63.00 target price on shares of Deere & Co. in a report on Monday, August 22nd. Eight research analysts have rated the stock with a sell rating, nine have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $82.40.
Shares of Deere & Co. (NYSE:DE) opened at 84.70 on Monday. The firm has a 50 day moving average price of $83.71 and a 200 day moving average price of $81.86. The company has a market capitalization of $26.63 billion, a P/E ratio of 16.97 and a beta of 0.89. Deere & Co. has a one year low of $70.16 and a one year high of $88.63.
Deere & Co. (NYSE:DE) last issued its quarterly earnings results on Friday, August 19th. The company reported $1.55 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.94 by $0.61. Deere & Co. had a return on equity of 22.73% and a net margin of 5.92%. The company had revenue of $6.72 billion for the quarter. During the same quarter in the previous year, the business posted $1.53 EPS. The company’s revenue for the quarter was down 14.3% on a year-over-year basis. On average, equities research analysts predict that Deere & Co. will post $4.30 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Friday, September 30th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 2.83%. The ex-dividend date is Wednesday, September 28th. Deere & Co.’s dividend payout ratio is presently 48.10%.
Several institutional investors have recently added to or reduced their stakes in the stock. FMR LLC increased its position in Deere & Co. by 37.2% in the second quarter. FMR LLC now owns 9,139,259 shares of the company’s stock valued at $740,647,000 after buying an additional 2,477,175 shares during the last quarter. Primecap Management Co. CA increased its position in Deere & Co. by 19.3% in the first quarter. Primecap Management Co. CA now owns 5,286,519 shares of the company’s stock valued at $407,009,000 after buying an additional 856,000 shares during the last quarter. 1832 Asset Management L.P. increased its position in Deere & Co. by 289.6% in the first quarter. 1832 Asset Management L.P. now owns 1,012,335 shares of the company’s stock valued at $131,221,000 after buying an additional 752,519 shares during the last quarter. Mackenzie Financial Corp increased its position in Deere & Co. by 5,429.8% in the second quarter. Mackenzie Financial Corp now owns 764,161 shares of the company’s stock valued at $61,928,000 after buying an additional 750,342 shares during the last quarter. Finally, Melvin Capital Management LP purchased a new position in Deere & Co. during the second quarter valued at approximately $56,728,000. 70.62% of the stock is owned by institutional investors.
About Deere & Co.
Deere & Company is engaged in equipment operations and financial services. The Company operates through three business segments: agriculture and turf, construction and forestry, and financial services. The Company’s agriculture and turf segment primarily manufactures and distributes a full line of agriculture and turf equipment and related service parts.
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