Deere & Company (NYSE:DE) Receives Consensus Recommendation of "Moderate Buy" from Analysts
Deere & Company (NYSE:DE) has received a consensus "Moderate Buy" recommendation from 26 research firms. Analysts have set an average 12-month price target of $518.95. Recent analyst actions include Oppenheimer raising its target price to $531 and Wall Street Zen downgrading to "sell." CEO John C. May II sold shares, reducing his ownership by 8.99%. Institutional investors own 68.58% of the stock. Deere's stock opened at $482.60, with a market cap of $130.46 billion. The company reported quarterly earnings of $3.93 per share, slightly below estimates.
Deere & Company (NYSE:DE - Get Free Report) has earned an average recommendation of "Moderate Buy" from the twenty-six research firms that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation, fifteen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $518.95.
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Several research analysts have recently issued reports on DE shares. Oppenheimer raised their target price on shares of Deere & Company from $512.00 to $531.00 and gave the company an "outperform" rating in a research note on Friday, November 28th. Wall Street Zen cut shares of Deere & Company from a "hold" rating to a "sell" rating in a research note on Friday, November 28th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Deere & Company in a report on Monday. Sanford C. Bernstein increased their price target on Deere & Company from $487.00 to $521.00 and gave the company a "market perform" rating in a research note on Thursday, November 13th. Finally, Wells Fargo & Company began coverage on Deere & Company in a research note on Thursday, November 13th. They set an "overweight" rating and a $543.00 price objective for the company.
Check Out Our Latest Stock Analysis on Deere & Company
Insider Transactions at Deere & Company
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In other Deere & Company news, CEO John C. May II sold 11,106 shares of the company's stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $500.08, for a total value of $5,553,888.48. Following the completion of the sale, the chief executive officer owned 112,453 shares of the company's stock, valued at approximately $56,235,496.24. This represents a 8.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.29% of the company's stock.
Institutional Investors Weigh In On Deere & Company
Several large investors have recently made changes to their positions in DE. Mid American Wealth Advisory Group Inc. bought a new stake in Deere & Company during the second quarter worth $25,000. Strategic Advocates LLC bought a new position in shares of Deere & Company in the 3rd quarter valued at about $25,000. Activest Wealth Management increased its stake in shares of Deere & Company by 2,750.0% during the 1st quarter. Activest Wealth Management now owns 57 shares of the industrial products company's stock worth $27,000 after purchasing an additional 55 shares during the last quarter. Howard Hughes Medical Institute bought a new stake in shares of Deere & Company in the 2nd quarter valued at about $27,000. Finally, Wealth Watch Advisors INC acquired a new stake in Deere & Company in the 3rd quarter valued at about $32,000. Institutional investors own 68.58% of the company's stock.
Deere & Company Stock Up 0.2%
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Shares of DE opened at $482.60 on Friday. The business's fifty day moving average price is $467.58 and its two-hundred day moving average price is $489.59. The firm has a market capitalization of $130.46 billion, a price-to-earnings ratio of 26.07, a PEG ratio of 1.77 and a beta of 1.00. Deere & Company has a 52 week low of $403.01 and a 52 week high of $533.78. The company has a debt-to-equity ratio of 1.68, a quick ratio of 2.01 and a current ratio of 2.22.
Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly earnings results on Wednesday, November 26th. The industrial products company reported $3.93 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.96 by ($0.03). The firm had revenue of $12.39 billion for the quarter, compared to analyst estimates of $9.77 billion. Deere & Company had a net margin of 11.00% and a return on equity of 20.54%. The company's revenue was up 14.1% compared to the same quarter last year. During the same period last year, the company earned $4.55 EPS. On average, analysts predict that Deere & Company will post 19.32 earnings per share for the current year.
Deere & Company Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, February 9th. Investors of record on Wednesday, December 31st will be given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Wednesday, December 31st. Deere & Company's dividend payout ratio (DPR) is currently 35.01%.
About Deere & Company
(Get Free Report)Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.
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