Credit Suisse Group reaffirmed their buy rating on shares of Deere & Company (NYSE:DE) in a report released on Tuesday morning. The brokerage currently has a $211.00 price objective on the industrial products company’s stock.
DE has been the topic of several other research reports. Zacks Investment Research lowered Deere & Company from a hold rating to a sell rating in a report on Tuesday, November 20th. Bank of America reissued a buy rating and issued a $173.00 target price (up previously from $163.00) on shares of Deere & Company in a report on Monday, December 3rd. Argus increased their target price on Deere & Company to $166.00 and gave the company a buy rating in a report on Tuesday, November 27th. UBS Group set a $177.00 target price on Deere & Company and gave the company a buy rating in a report on Friday, November 23rd. Finally, Robert W. Baird set a $165.00 target price on Deere & Company and gave the company a buy rating in a report on Friday, November 23rd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and fifteen have issued a buy rating to the stock. The company has a consensus rating of Buy and a consensus price target of $177.03.
Shares of Deere & Company stock traded down $0.84 during trading hours on Tuesday, reaching $158.28. 2,039,033 shares of the company were exchanged, compared to its average volume of 2,565,479. Deere & Company has a 1 year low of $128.32 and a 1 year high of $175.26. The company has a current ratio of 1.92, a quick ratio of 1.67 and a debt-to-equity ratio of 2.41. The firm has a market capitalization of $49.17 billion, a P/E ratio of 16.86, a P/E/G ratio of 1.51 and a beta of 0.89.
The firm also recently announced a quarterly dividend, which will be paid on Friday, February 1st. Stockholders of record on Monday, December 31st will be paid a dividend of $0.76 per share. This is an increase from Deere & Company’s previous quarterly dividend of $0.69. The ex-dividend date of this dividend is Friday, December 28th. This represents a $3.04 annualized dividend and a dividend yield of 1.92%. Deere & Company’s dividend payout ratio is 32.37%.
In related news, CFO Rajesh Kalathur sold 11,133 shares of the firm’s stock in a transaction dated Thursday, November 29th. The shares were sold at an average price of $151.47, for a total value of $1,686,315.51. Following the completion of the sale, the chief financial officer now owns 42,244 shares in the company, valued at $6,398,698.68. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.74% of the stock is currently owned by corporate insiders.
A number of large investors have recently made changes to their positions in DE. Moody National Bank Trust Division increased its holdings in Deere & Company by 79.2% in the fourth quarter. Moody National Bank Trust Division now owns 475 shares of the industrial products company’s stock valued at $71,000 after buying an additional 210 shares in the last quarter. Whitener Capital Management Inc. purchased a new position in Deere & Company in the third quarter valued at about $105,000. Patten Group Inc. purchased a new position in Deere & Company in the third quarter valued at about $114,000. Amussen Hunsaker Associates LLC purchased a new position in Deere & Company in the second quarter valued at about $122,000. Finally, SRS Capital Advisors Inc. purchased a new position in Deere & Company in the third quarter valued at about $141,000. Hedge funds and other institutional investors own 66.13% of the company’s stock.
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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