Bank of America Cuts Deere & Company (NYSE:DE) Price Target to $175.00

Deere & Company (NYSE:DE) had its price objective reduced by Bank of America from $185.00 to $175.00 in a research note published on Monday, BenzingaRatingsTable reports. They currently have a buy rating on the industrial products company’s stock.

DE has been the subject of several other reports. Jefferies Financial Group raised shares of Deere & Company from a hold rating to a buy rating and raised their price target for the company from $150.00 to $190.00 in a report on Monday, June 24th. UBS Group cut their price target on shares of Deere & Company from $167.00 to $160.00 and set a neutral rating for the company in a report on Monday. Macquarie set a $132.00 price target on shares of Deere & Company and gave the company a hold rating in a report on Monday, May 20th. Stephens started coverage on shares of Deere & Company in a report on Wednesday, August 14th. They issued an equal weight rating and a $160.00 price target for the company. Finally, Berenberg Bank assumed coverage on shares of Deere & Company in a report on Thursday, May 9th. They issued a hold rating for the company. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and thirteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $166.89.

Deere & Company stock opened at $155.37 on Monday. Deere & Company has a 1-year low of $128.32 and a 1-year high of $171.22. The firm has a market capitalization of $48.22 billion, a price-to-earnings ratio of 15.10, a P/E/G ratio of 2.28 and a beta of 1.10. The company has a current ratio of 1.99, a quick ratio of 1.73 and a debt-to-equity ratio of 2.38. The firm has a 50 day simple moving average of $159.85 and a 200 day simple moving average of $158.29.



Deere & Company (NYSE:DE) last announced its quarterly earnings results on Friday, August 16th. The industrial products company reported $2.71 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.80 by ($0.09). Deere & Company had a net margin of 8.55% and a return on equity of 27.75%. The firm had revenue of $8.97 billion during the quarter, compared to the consensus estimate of $9.38 billion. During the same period in the previous year, the business earned $2.59 earnings per share. The firm’s revenue for the quarter was down 3.4% on a year-over-year basis. On average, equities research analysts forecast that Deere & Company will post 10.02 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Friday, June 28th were issued a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date of this dividend was Thursday, June 27th. Deere & Company’s dividend payout ratio is currently 32.37%.

In other news, COO John C. May II sold 5,228 shares of Deere & Company stock in a transaction on Friday, July 26th. The shares were sold at an average price of $170.00, for a total transaction 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 approximately $8,382,700. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO John C. May II sold 16,468 shares of Deere & Company stock in a transaction on Friday, June 21st. The stock was sold at an average price of $163.21, for a total transaction of $2,687,742.28. Following the sale, the chief operating officer now directly owns 60,550 shares of the company’s stock, valued at $9,882,365.50. The disclosure for this sale can be found here. Insiders own 0.71% of the company’s stock.

Institutional investors have recently bought and sold shares of the business. Fort Washington Investment Advisors Inc. OH lifted its stake in Deere & Company by 9.1% in the first quarter. Fort Washington Investment Advisors Inc. OH now owns 448,092 shares of the industrial products company’s stock worth $71,623,000 after purchasing an additional 37,357 shares during the last quarter. Rehmann Capital Advisory Group lifted its stake in Deere & Company by 11.3% in the first quarter. Rehmann Capital Advisory Group now owns 1,223 shares of the industrial products company’s stock worth $195,000 after purchasing an additional 124 shares during the last quarter. Chemical Bank lifted its stake in Deere & Company by 1.0% in the first quarter. Chemical Bank now owns 10,460 shares of the industrial products company’s stock worth $1,672,000 after purchasing an additional 100 shares during the last quarter. Nordea Investment Management AB lifted its stake in Deere & Company by 24.6% in the first quarter. Nordea Investment Management AB now owns 66,866 shares of the industrial products company’s stock worth $10,690,000 after purchasing an additional 13,201 shares during the last quarter. Finally, BlackRock Inc. lifted its stake in Deere & Company by 0.4% in the first quarter. BlackRock Inc. now owns 18,523,593 shares of the industrial products company’s stock worth $2,960,812,000 after purchasing an additional 78,890 shares during the last quarter. 67.67% of the stock is owned by institutional investors and hedge funds.

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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Analyst Recommendations for Deere & Company (NYSE:DE)

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