John Deere (NYSE:DE) had its price target trimmed by Citigroup from $200.00 to $190.00 in a report issued on Wednesday, June 20th. The brokerage currently has a buy rating on the industrial products company’s stock.
Other research analysts have also issued reports about the stock. UBS Group reissued a neutral rating and set a $175.00 target price (up from $150.00) on shares of John Deere in a research note on Tuesday, February 20th. Credit Suisse Group reaffirmed an outperform rating and issued a $231.00 price objective (up from $198.00) on shares of John Deere in a research note on Tuesday, February 20th. JPMorgan Chase & Co. reaffirmed a neutral rating and issued a $170.00 price objective (up from $150.00) on shares of John Deere in a research note on Tuesday, February 20th. Zacks Investment Research upgraded shares of John Deere from a hold rating to a buy rating and set a $190.00 target price for the company in a report on Wednesday, February 21st. Finally, BMO Capital Markets reiterated an outperform rating and issued a $195.00 target price (up previously from $190.00) on shares of John Deere in a report on Wednesday, February 21st. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and sixteen have issued a buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $179.12.
Shares of John Deere opened at $139.80 on Wednesday, MarketBeat.com reports. The company has a market cap of $45.21 billion, a PE ratio of 17.45, a PEG ratio of 2.55 and a beta of 0.85. John Deere has a 1-year low of $112.87 and a 1-year high of $175.26. The company has a quick ratio of 1.64, a current ratio of 1.91 and a debt-to-equity ratio of 2.52.
John Deere (NYSE:DE) last announced its quarterly earnings results on Friday, May 18th. The industrial products company reported $3.14 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $3.33 by ($0.19). John Deere had a net margin of 5.46% and a return on equity of 27.67%. The business had revenue of $9.75 billion during the quarter, compared to analyst estimates of $9.83 billion. During the same quarter last year, the company posted $2.14 earnings per share. The company’s revenue was up 34.3% compared to the same quarter last year. research analysts forecast that John Deere will post 9.66 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 1st. Stockholders of record on Friday, June 29th will be issued a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date of this dividend is Thursday, June 28th. This is a boost from John Deere’s previous quarterly dividend of $0.60. John Deere’s payout ratio is 41.32%.
Several hedge funds have recently made changes to their positions in the company. Global X Management Co. LLC lifted its stake in John Deere by 15.0% during the 4th quarter. Global X Management Co. LLC now owns 4,371 shares of the industrial products company’s stock valued at $684,000 after acquiring an additional 570 shares during the period. First Allied Advisory Services Inc. lifted its stake in John Deere by 18.2% during the 4th quarter. First Allied Advisory Services Inc. now owns 6,367 shares of the industrial products company’s stock valued at $996,000 after acquiring an additional 979 shares during the period. Tower Research Capital LLC TRC bought a new position in John Deere during the 4th quarter valued at about $576,000. Virtu Financial LLC lifted its stake in John Deere by 162.1% during the 4th quarter. Virtu Financial LLC now owns 6,001 shares of the industrial products company’s stock valued at $939,000 after acquiring an additional 3,711 shares during the period. Finally, Itau Unibanco Holding S.A. lifted its stake in John Deere by 510.6% during the 4th quarter. Itau Unibanco Holding S.A. now owns 2,534 shares of the industrial products company’s stock valued at $396,000 after acquiring an additional 2,119 shares during the period. Hedge funds and other institutional investors own 66.14% of the company’s stock.
About John Deere
Deere & Company, together with its subsidiaries, manufactures and distributes agriculture and turf, and construction and forestry equipment worldwide. The company's Agriculture and Turf segment provides agriculture and turf equipment, and related service parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; related harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; and tillage, seeding, and application equipment comprising sprayers, and nutrient management and soil preparation machinery.
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