Analysts Set Deere & Company (DE) Target Price at $174.29

Shares of Deere & Company (NYSE:DE) have been given an average rating of “Buy” by the twenty-five brokerages that are currently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and fifteen have issued a buy rating on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $174.29.

A number of equities research analysts have weighed in on the company. Morgan Stanley assumed coverage on Deere & Company in a report on Friday, March 2nd. They issued an “overweight” rating and a $195.00 target price for the company. BMO Capital Markets reiterated an “outperform” rating and issued a $195.00 target price (up from $190.00) on shares of Deere & Company in a report on Wednesday, February 21st. Zacks Investment Research upgraded Deere & Company 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. TheStreet downgraded Deere & Company from a “b+” rating to a “c+” rating in a report on Friday, February 16th. Finally, JPMorgan Chase reiterated a “neutral” rating and issued a $170.00 target price (up from $150.00) on shares of Deere & Company in a report on Tuesday, February 20th.

In related news, insider James M. Field sold 22,095 shares of Deere & Company stock in a transaction that occurred on Friday, January 12th. The stock was sold at an average price of $170.06, for a total transaction of $3,757,475.70. Following the transaction, the insider now owns 95,832 shares of the company’s stock, valued at $16,297,189.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Samuel R. Allen sold 269,353 shares of Deere & Company stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $163.83, for a total value of $44,128,101.99. Following the transaction, the chief executive officer now directly owns 361,166 shares in the company, valued at approximately $59,169,825.78. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 370,177 shares of company stock valued at $61,124,092. Corporate insiders own 0.74% of the company’s stock.



Several large investors have recently made changes to their positions in DE. Bank of Nova Scotia Trust Co. purchased a new position in Deere & Company in the third quarter worth $302,000. Bollard Group LLC boosted its position in Deere & Company by 0.8% in the fourth quarter. Bollard Group LLC now owns 89,757 shares of the industrial products company’s stock worth $14,048,000 after purchasing an additional 679 shares during the last quarter. California Public Employees Retirement System boosted its position in Deere & Company by 8.9% in the third quarter. California Public Employees Retirement System now owns 796,383 shares of the industrial products company’s stock worth $100,018,000 after purchasing an additional 65,031 shares during the last quarter. TIAA CREF Investment Management LLC boosted its position in Deere & Company by 27.0% in the fourth quarter. TIAA CREF Investment Management LLC now owns 1,392,357 shares of the industrial products company’s stock worth $217,918,000 after purchasing an additional 296,148 shares during the last quarter. Finally, Capital International Investors boosted its position in Deere & Company by 35.4% in the third quarter. Capital International Investors now owns 8,807,474 shares of the industrial products company’s stock worth $1,106,131,000 after purchasing an additional 2,300,531 shares during the last quarter. 67.32% of the stock is currently owned by institutional investors.

DE stock traded up $5.85 during mid-day trading on Thursday, reaching $150.26. The company’s stock had a trading volume of 3,255,509 shares, compared to its average volume of 2,654,774. The company has a market cap of $47,923.83, a P/E ratio of 22.49, a PEG ratio of 2.73 and a beta of 0.80. The company has a debt-to-equity ratio of 2.85, a quick ratio of 1.69 and a current ratio of 1.98. Deere & Company has a 12 month low of $107.04 and a 12 month high of $175.26.

Deere & Company (NYSE:DE) last issued its earnings results on Friday, February 16th. The industrial products company reported $1.31 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.16 by $0.15. The business had revenue of $5.97 billion during the quarter, compared to the consensus estimate of $6.41 billion. Deere & Company had a return on equity of 27.18% and a net margin of 4.57%. The firm’s revenue for the quarter was up 27.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.61 earnings per share. research analysts predict that Deere & Company will post 9.55 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 1st. Stockholders of record on Thursday, March 29th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $2.40 annualized dividend and a dividend yield of 1.60%. Deere & Company’s dividend payout ratio is 35.93%.

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Deere & Company Company Profile

Deere & Company is engaged in equipment operations. The Company is engaged in providing financial services. The Company operates through three business segments: agriculture and turf, construction and forestry, and financial services. The agriculture and turf segment manufactures and distributes a line of agriculture and turf equipment and related service parts.

Analyst Recommendations for Deere & Company (NYSE:DE)

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