Deere & Company (NYSE:DE) Price Target Cut to $150.00 by Analysts at Robert W. Baird

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Deere & Company (NYSE:DE) had its target price cut by Robert W. Baird from $170.00 to $150.00 in a research note issued to investors on Tuesday, The Fly reports. The firm currently has a “positive” rating on the industrial products company’s stock. Robert W. Baird’s price objective indicates a potential upside of 1.92% from the company’s previous close.

A number of other research analysts have also recently commented on the company. Macquarie set a $132.00 price target on Deere & Company and gave the company a “hold” rating in a research note on Monday, May 20th. BMO Capital Markets reaffirmed an “outperform” rating and set a $175.00 target price (down from $195.00) on shares of Deere & Company in a research report on Monday, May 27th. Citigroup reaffirmed a “buy” rating and set a $170.00 target price (down from $180.00) on shares of Deere & Company in a research report on Thursday, May 16th. Barclays reaffirmed a “buy” rating and set a $167.00 target price on shares of Deere & Company in a research report on Monday, July 15th. Finally, Zacks Investment Research lowered Deere & Company from a “hold” rating to a “sell” rating in a research report on Wednesday, April 17th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirteen have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $167.61.

Shares of DE opened at $147.17 on Tuesday. Deere & Company has a 52 week low of $128.32 and a 52 week high of $171.22. The company has a market cap of $46.61 billion, a PE ratio of 15.67, a price-to-earnings-growth ratio of 1.91 and a beta of 1.10. The company has a quick ratio of 1.66, a current ratio of 1.94 and a debt-to-equity ratio of 2.37. The firm has a fifty day moving average price of $162.65.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Friday, May 17th. The industrial products company reported $3.52 EPS for the quarter, missing the Zacks’ consensus estimate of $3.57 by ($0.05). Deere & Company had a net margin of 8.52% and a return on equity of 28.76%. The firm had revenue of $10.27 billion during the quarter, compared to the consensus estimate of $10.19 billion. During the same quarter in the previous year, the company posted $3.14 earnings per share. The firm’s revenue was up 5.4% on a year-over-year basis. On average, research analysts anticipate that Deere & Company will post 10.22 earnings per share for the current fiscal year.

In other Deere & Company news, COO John C. May II sold 5,228 shares of Deere & Company stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $170.00, for a total transaction of $888,760.00. Following the completion of the transaction, the chief operating officer now owns 49,310 shares in the company, valued at approximately $8,382,700. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO John C. May II sold 16,468 shares of Deere & Company stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $163.21, for a total value of $2,687,742.28. Following the transaction, the chief operating officer now owns 60,550 shares of the company’s stock, valued at approximately $9,882,365.50. The disclosure for this sale can be found here. Company insiders own 0.71% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP boosted its position in shares of Deere & Company by 4.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,123,218 shares of the industrial products company’s stock valued at $167,531,000 after purchasing an additional 49,932 shares during the period. Geode Capital Management LLC boosted its position in shares of Deere & Company by 7.2% in the 4th quarter. Geode Capital Management LLC now owns 3,655,571 shares of the industrial products company’s stock valued at $544,229,000 after purchasing an additional 244,266 shares during the period. Mercer Global Advisors Inc. ADV acquired a new position in shares of Deere & Company in the 1st quarter valued at $797,000. First Manhattan Co. boosted its position in shares of Deere & Company by 4.2% in the 1st quarter. First Manhattan Co. now owns 1,699 shares of the industrial products company’s stock valued at $271,000 after purchasing an additional 68 shares during the period. Finally, Tealwood Asset Management Inc. acquired a new position in shares of Deere & Company in the 1st quarter valued at $205,000. Institutional investors and hedge funds own 67.85% of the company’s stock.

About Deere & Company

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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