Deere & Company (NYSE:DE) Posts Quarterly Earnings Results

Deere & Company (NYSE:DE) released its quarterly earnings data on Wednesday. The industrial products company reported $2.14 EPS for the quarter, beating the consensus estimate of $2.13 by $0.01, RTT News reports. Deere & Company had a net margin of 8.55% and a return on equity of 27.75%. The business had revenue of $8.70 billion during the quarter, compared to the consensus estimate of $8.41 billion. During the same quarter in the prior year, the firm earned $2.30 EPS. The business’s revenue was up 4.3% on a year-over-year basis.

Shares of NYSE DE opened at $176.65 on Wednesday. The firm’s 50-day moving average price is $173.93 and its 200-day moving average price is $160.86. 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 stock has a market capitalization of $55.22 billion, a price-to-earnings ratio of 18.81, a P/E/G ratio of 2.37 and a beta of 1.15. Deere & Company has a 12-month low of $132.68 and a 12-month high of $180.48.

In other news, insider James M. Field sold 12,637 shares of the company’s stock in a transaction dated 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 sale, the insider now directly owns 113,858 shares in the company, valued at approximately $20,494,440. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Samuel R. Allen sold 114,253 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $178.30, for a total transaction of $20,371,309.90. Following the sale, the chairman now owns 423,497 shares in the company, valued at $75,509,515.10. The disclosure for this sale can be found here. 0.71% of the stock is currently owned by corporate insiders.

DE has been the subject of several research reports. JPMorgan Chase & Co. reissued a “sell” rating and set a $140.00 price objective on shares of Deere & Company in a report on Monday. Deutsche Bank reissued a “hold” rating and set a $169.00 price objective (up previously from $155.00) on shares of Deere & Company in a report on Wednesday, November 20th. Citigroup reissued a “buy” rating and set a $175.16 price objective on shares of Deere & Company in a report on Tuesday. UBS Group increased their price objective on shares of Deere & Company from $160.00 to $180.00 and gave the company a “neutral” rating in a report on Monday, November 11th. Finally, Robert W. Baird set a $178.00 price objective on shares of Deere & Company and gave the company a “buy” rating in a report on Wednesday, October 9th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and eleven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $172.45.

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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Earnings History for Deere & Company (NYSE:DE)

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