Deere & Company (NYSE: DE – Get Note)The stock saw its “hold” rating reissued by research analysts at BMO Capital Markets in a research report released on Friday, TipRanks reports. They currently have a price target of $425.00 on shares of the industrial products company. BMO Capital Markets’ target price suggests a potential upside of 35.65% from the current share price.
Several other equity research analysts have also recently commented on the company. Bank of America downgraded Deere & Company from a “buy” to a “neutral” rating and reduced its target price for the company from $475.00 to $450.00 in a Monday, April 25 research note . DA Davidson raised its price target on Deere & Company from $455.00 to $480.00 in a Friday, April 1 research note. StockNews.com began covering Deere & Company in a research note on Thursday, March 31. They issued a “holding” rating for the company. Wells Fargo & Company began covering Deere & Company stocks in a research report on Friday, March 11. They issued an “overweight” rating and a target price of $455.00 for the company. Finally, Deutsche Bank Aktiengesellschaft raised its price target on Deere & Company shares from $400.00 to $417.00 and gave the company a “holding” rating in a Tuesday, February 22 report. Six equity research analysts gave the stock a hold rating and eight gave the company a buy rating. Based on MarketBeat data, Deere & Company currently has a consensus rating of “Buy” and a consensus target price of $443.93.
Shares of DE traded at $51.31 on Friday, hitting $313.31. The company’s shares had a trading volume of 8,814,282 shares, compared to its average volume of 1,785,792. The company has a market capitalization of $96.12 billion, a PE ratio of 17.37, a PEG ratio of 1.19 and a beta of 1.02. The company has a debt ratio of 1.84, a current ratio of 2.25 and a quick ratio of 1.94. Deere & Company has a fifty-two week low of $307.64 and a fifty-two week high of $446.76. The company has a 50-day moving average price of $401.49 and a 200-day moving average price of $377.10.
Deere & Company (NYSE:DE – Get Rating) last released quarterly earnings data on Friday, May 20. The industrial products company reported EPS of $6.81 for the quarter, beating consensus analyst estimates of $6.69 by $0.12. Deere & Company had a return on equity of 33.65% and a net margin of 12.69%. The company posted revenue of $12.03 billion in the quarter, versus a consensus estimate of $13.16 billion. In the same quarter a year earlier, the company posted earnings of $5.68 per share. The company’s revenue increased 9.4% year over year. On average, stock analysts expect Deere & Company to post EPS of 22.69 for the current year.
In other Deere & Company news, insider Rajesh Kalathur sold 32,391 shares in a trade dated Monday, March 7. The shares were sold at an average price of $400.00, for a total transaction of $12,956,400.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, accessible via this hyperlink. Additionally, Pentz insider Markwart Von sold 18,364 shares in a trade dated Monday, March 14. The shares were sold at an average price of $393.00, for a total transaction of $7,217,052.00. The disclosure of this sale can be found here. Company insiders own 0.24% of the company’s shares.
Hedge funds and other institutional investors have recently been buying and selling stocks. Vanguard Group Inc. increased its position in Deere & Company shares by 0.9% during the first quarter. Vanguard Group Inc. now owns 21,678,757 shares of the industrial products company worth $9,006,656,000 after buying an additional 194,170 shares in the last quarter. BlackRock Inc. increased its stake in Deere & Company stock by 4.0% in Q1. BlackRock Inc. now owns 18,243,075 shares of the industrial products company valued at $7,579,271,000 after purchasing an additional 706,609 shares during the period. State Street Corp increased its stake in Deere & Company by 0.9% during the fourth quarter. State Street Corp now owns 11,613,684 shares of the industrial products company worth $3,994,236,000 after buying an additional 102,269 shares last quarter. Wellington Management Group LLP increased its equity stake in Deere & Company by 3.9% in Q1. Wellington Management Group LLP now owns 6,344,147 shares of the industrial products company valued at $2,635,740,000 after purchasing an additional 235,686 shares during the period. Finally, Parnassus Investments LLC increased its stake in Deere & Company shares by 1.2% in the 1st quarter. Parnassus Investments LLC now owns 3,606,635 shares of the industrial products company valued at $1,498,413,000 after purchasing an additional 43,557 shares during the period. Institutional investors hold 67.35% of the company’s shares.
Company Profile Deere & Company (Get an evaluation)
Deere & Company manufactures and distributes various equipment worldwide. The Company operates through four segments: Production and Precision Agriculture, Smallholder Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides mid-size tractors, combine harvesters, cotton pickers and strippers, sugarcane harvesters, harvesting front-end equipment, cotton cane loaders sugar, traction scrapers and tillage and seeding equipment, as well as application equipment including sprayers. and nutrient management, and soil preparation machinery for grain growers.
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