Deere & Company (NYSE:DE) had its target price increased by investment analysts at Morgan Stanley from $172.00 to $177.00 in a report released on Monday, BenzingaRatingsTable reports. The brokerage presently has an “overweight” rating on the industrial products company’s stock. Morgan Stanley’s target price would suggest a potential upside of 16.37% from the stock’s current price.
Other analysts have also issued research reports about the company. Vertical Research lowered Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, May 20th. JPMorgan Chase & Co. lowered Deere & Company from a “neutral” rating to an “underweight” rating and cut their price objective for the company from $154.00 to $132.00 in a report on Tuesday, May 14th. BMO Capital Markets restated an “outperform” rating and issued a $175.00 price objective (down previously from $195.00) on shares of Deere & Company in a report on Monday, May 27th. Stifel Nicolaus cut their price objective on Deere & Company from $180.00 to $171.00 and set a “buy” rating for the company in a report on Monday, May 20th. Finally, Deutsche Bank cut their price objective on Deere & Company from $163.00 to $155.00 and set a “hold” rating for the company in a report on Wednesday, August 14th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and thirteen have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $166.89.
Shares of Deere & Company stock opened at $152.10 on Monday. The company has a quick ratio of 1.73, a current ratio of 1.99 and a debt-to-equity ratio of 2.38. The firm has a market cap of $47.31 billion, a price-to-earnings ratio of 16.20, a price-to-earnings-growth ratio of 1.85 and a beta of 1.10. The business has a fifty day simple moving average of $160.24 and a 200-day simple moving average of $158.37. Deere & Company has a fifty-two week low of $128.32 and a fifty-two week high of $171.22.
Deere & Company (NYSE:DE) last announced its quarterly earnings data on Friday, August 16th. The industrial products company reported $2.71 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.80 by ($0.09). The firm had revenue of $8.97 billion during the quarter, compared to analyst estimates of $9.38 billion. Deere & Company had a net margin of 8.55% and a return on equity of 27.75%. The company’s quarterly revenue was down 3.4% compared to the same quarter last year. During the same quarter last year, the company earned $2.59 EPS. Analysts anticipate that Deere & Company will post 10.17 earnings per share for the current fiscal year.
In related news, COO John C. May II sold 16,468 shares of the stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $163.21, for a total value of $2,687,742.28. Following the completion of the sale, the chief operating officer now directly owns 60,550 shares of the company’s stock, valued at approximately $9,882,365.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO John C. May II sold 5,228 shares of the stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $170.00, for a total value of $888,760.00. Following the completion of the sale, the chief operating officer now directly owns 49,310 shares of the company’s stock, valued at $8,382,700. The disclosure for this sale can be found here. Corporate insiders own 0.71% of the company’s stock.
A number of institutional investors have recently made changes to their positions in DE. SRS Capital Advisors Inc. purchased a new stake in Deere & Company in the 2nd quarter worth about $28,000. Private Ocean LLC lifted its stake in Deere & Company by 560.0% in the 1st quarter. Private Ocean LLC now owns 198 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 168 shares in the last quarter. Ellis Investment Partners LLC purchased a new stake in Deere & Company in the 1st quarter worth about $33,000. Arcus Capital Partners LLC purchased a new stake in Deere & Company in the 2nd quarter worth about $33,000. Finally, Orrstown Financial Services Inc. lifted its stake in Deere & Company by 116.0% in the 2nd quarter. Orrstown Financial Services Inc. now owns 216 shares of the industrial products company’s stock worth $36,000 after acquiring an additional 116 shares in the last quarter. 67.67% of the stock is owned by hedge funds and other institutional investors.
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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