Deere & Company (DE) Shares Gap Down to $148.57

Deere & Company (NYSE:DE)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $151.82, but opened at $148.57. Deere & Company shares last traded at $151.50, with a volume of 1614065 shares.

Several brokerages have recently issued reports on DE. Barclays upgraded Deere & Company from a “sector perform” rating to an “outperform” rating and set a $171.00 price objective for the company in a research report on Wednesday, January 10th. Wells Fargo reiterated an “outperform” rating and set a $200.00 price objective (up from $170.00) on shares of Deere & Company in a research report on Wednesday, January 10th. Royal Bank of Canada upgraded Deere & Company from a “sector perform” rating to an “outperform” rating and reduced their price objective for the stock from $190.00 to $155.00 in a research report on Wednesday, January 10th. TheStreet downgraded Deere & Company from a “b+” rating to a “c+” rating in a research report on Friday, February 16th. Finally, UBS reiterated a “neutral” rating and set a $175.00 price objective (up from $150.00) on shares of Deere & Company in a research report on Tuesday, February 20th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the company’s stock. Deere & Company presently has an average rating of “Buy” and an average price target of $172.07.

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The stock has a market capitalization of $48,105.16, a price-to-earnings ratio of 21.76, a P/E/G ratio of 2.75 and a beta of 0.80. The company has a debt-to-equity ratio of 2.85, a current ratio of 1.98 and a quick ratio of 1.69.

Deere & Company (NYSE:DE) last released its earnings results on Friday, February 16th. The industrial products company reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm’s revenue for the quarter was up 27.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.61 earnings per share. research analysts forecast that Deere & Company will post 9.55 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 1st. Shareholders of record on Thursday, March 29th will be given a $0.60 dividend. The ex-dividend date is Wednesday, March 28th. This represents a $2.40 dividend on an annualized basis and a yield of 1.65%. Deere & Company’s dividend payout ratio (DPR) is 35.93%.

In other news, CEO Samuel R. Allen sold 269,353 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $163.83, for a total transaction of $44,128,101.99. Following the completion of the sale, the chief executive officer now owns 361,166 shares in the company, valued at approximately $59,169,825.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Mary K.W. Jones sold 10,220 shares of the stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $165.06, for a total value of $1,686,913.20. The disclosure for this sale can be found here. Insiders sold 380,397 shares of company stock valued at $62,811,005 over the last 90 days. 0.74% of the stock is currently owned by insiders.

Large investors have recently made changes to their positions in the company. LeJeune Puetz Investment Counsel LLC acquired a new stake in shares of Deere & Company during the 4th quarter valued at $101,000. Icon Wealth Partners LLC acquired a new stake in shares of Deere & Company during the 4th quarter valued at $110,000. Pin Oak Investment Advisors Inc. acquired a new stake in shares of Deere & Company during the 4th quarter valued at $122,000. Cerebellum GP LLC acquired a new stake in shares of Deere & Company during the 4th quarter valued at $132,000. Finally, TCI Wealth Advisors Inc. lifted its position in shares of Deere & Company by 107.3% during the 4th quarter. TCI Wealth Advisors Inc. now owns 885 shares of the industrial products company’s stock valued at $139,000 after acquiring an additional 458 shares during the last quarter. Institutional investors own 67.32% of the company’s stock.

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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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