Deere & Company (NYSE:DE) had its target price cut by analysts at Citigroup from $200.00 to $195.00 in a report issued on Monday, BenzingaRatingsTable reports. The firm currently has a “buy” rating on the industrial products company’s stock. Citigroup‘s price objective points to a potential upside of 19.27% from the company’s current price.
A number of other research firms also recently issued reports on DE. JPMorgan Chase & Co. reiterated a “sell” rating and set a $140.00 price objective on shares of Deere & Company in a report on Monday, November 25th. DZ Bank cut Deere & Company from a “hold” rating to a “sell” rating and set a $148.00 target price on the stock. in a research note on Friday, November 29th. Stephens assumed coverage on Deere & Company in a research report on Wednesday, August 14th. They set an “equal weight” rating and a $160.00 price target for the company. Barclays set a $180.00 price target on Deere & Company and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Finally, Morgan Stanley raised their price target on shares of Deere & Company from $180.00 to $197.00 and gave the stock an “overweight” rating in a research note on Friday, November 29th. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $172.37.
Shares of DE stock opened at $163.50 on Monday. The company has a debt-to-equity ratio of 2.65, a quick ratio of 1.80 and a current ratio of 2.04. The company has a market capitalization of $52.91 billion, a P/E ratio of 16.45, a price-to-earnings-growth ratio of 2.27 and a beta of 1.13. The company’s 50 day moving average price is $173.76 and its two-hundred day moving average price is $161.41. Deere & Company has a 52 week low of $132.68 and a 52 week high of $180.48.
Deere & Company (NYSE:DE) last released its quarterly earnings results on Wednesday, November 27th. The industrial products company reported $2.14 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.13 by $0.01. The company had revenue of $8.70 billion during the quarter, compared to analysts’ expectations of $8.41 billion. Deere & Company had a net margin of 8.29% and a return on equity of 27.11%. The business’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.30 earnings per share. Analysts forecast that Deere & Company will post 11.09 earnings per share for the current year.
In other Deere & Company news, Chairman Samuel R. Allen sold 114,253 shares of the stock in a transaction on Monday, November 4th. The shares were sold at an average price of $178.30, for a total value of $20,371,309.90. Following the completion of the sale, the chairman now owns 423,497 shares in the company, valued at $75,509,515.10. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider James M. Field sold 12,637 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $180.00, for a total transaction of $2,274,660.00. Following the completion of the sale, the insider now owns 113,858 shares of the company’s stock, valued at approximately $20,494,440. The disclosure for this sale can be found here. 0.71% of the stock is owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in the company. Flagship Harbor Advisors LLC increased its stake in shares of Deere & Company by 35.2% during the second quarter. Flagship Harbor Advisors LLC now owns 407 shares of the industrial products company’s stock valued at $67,000 after acquiring an additional 106 shares during the period. Westside Investment Management Inc. bought a new position in Deere & Company during the 2nd quarter valued at $83,000. Nelson Roberts Investment Advisors LLC boosted its stake in Deere & Company by 34.8% during the 2nd quarter. Nelson Roberts Investment Advisors LLC now owns 271 shares of the industrial products company’s stock valued at $45,000 after purchasing an additional 70 shares in the last quarter. Family Legacy Inc. increased its position in shares of Deere & Company by 6.4% during the 2nd quarter. Family Legacy Inc. now owns 4,033 shares of the industrial products company’s stock valued at $668,000 after purchasing an additional 243 shares during the period. Finally, BTIM Corp. increased its position in shares of Deere & Company by 8.8% during the 2nd quarter. BTIM Corp. now owns 206,076 shares of the industrial products company’s stock valued at $34,149,000 after purchasing an additional 16,710 shares during the period. Institutional investors own 66.65% of the company’s stock.
Deere & Company Company Profile
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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