Deere & Company (DE) Coverage Initiated at Barclays

Barclays initiated coverage on shares of Deere & Company (NYSE:DE) in a research note issued to investors on Tuesday. The firm set an “overweight” rating and a $167.00 price target on the industrial products company’s stock. Barclays’ price target points to a potential upside of 9.66% from the stock’s previous close.

A number of other research firms also recently issued reports on DE. BMO Capital Markets reiterated a “buy” rating and issued a $150.00 target price on shares of Deere & Company in a research report on Thursday, November 2nd. ValuEngine upgraded shares of Deere & Company from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Robert W. Baird downgraded shares of Deere & Company from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $140.00 to $130.00 in a research report on Friday, August 18th. BidaskClub downgraded shares of Deere & Company from a “buy” rating to a “hold” rating in a research report on Friday, August 18th. Finally, Wells Fargo & Company reiterated a “buy” rating and issued a $170.00 target price on shares of Deere & Company in a research report on Thursday, November 23rd. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and thirteen have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $143.68.

Shares of Deere & Company (NYSE DE) traded up $1.21 during trading hours on Tuesday, hitting $152.28. 440,022 shares of the company traded hands, compared to its average volume of 2,380,992. The company has a current ratio of 2.12, a quick ratio of 1.95 and a debt-to-equity ratio of 2.71. The stock has a market cap of $48,621.86, a P/E ratio of 22.79, a PEG ratio of 2.32 and a beta of 0.77. Deere & Company has a fifty-two week low of $100.05 and a fifty-two week high of $152.68.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Wednesday, November 22nd. The industrial products company reported $1.57 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.47 by $0.10. Deere & Company had a net margin of 7.22% and a return on equity of 26.31%. The business had revenue of $7.09 billion during the quarter, compared to the consensus estimate of $6.91 billion. During the same quarter in the prior year, the firm earned $0.90 EPS. The firm’s quarterly revenue was up 25.6% on a year-over-year basis. sell-side analysts predict that Deere & Company will post 7.94 EPS for the current year.

In related news, insider Pentz Markwart Von sold 22,095 shares of the firm’s stock in a transaction on Tuesday, September 19th. The shares were sold at an average price of $120.10, for a total value of $2,653,609.50. Following the transaction, the insider now directly owns 51,626 shares in the company, valued at approximately $6,200,282.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider John C. May II sold 18,626 shares of the firm’s stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $130.76, for a total transaction of $2,435,535.76. Following the completion of the transaction, the insider now owns 37,462 shares in the company, valued at $4,898,531.12. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 219,486 shares of company stock worth $29,869,619. 0.75% of the stock is currently owned by company insiders.

A number of large investors have recently bought and sold shares of DE. QCI Asset Management Inc. NY grew its position in Deere & Company by 18.8% in the 2nd quarter. QCI Asset Management Inc. NY now owns 950 shares of the industrial products company’s stock worth $117,000 after purchasing an additional 150 shares during the last quarter. Arrow Financial Corp grew its position in Deere & Company by 5.2% in the 2nd quarter. Arrow Financial Corp now owns 1,010 shares of the industrial products company’s stock worth $125,000 after purchasing an additional 50 shares during the last quarter. Wealthcare Advisory Partners LLC acquired a new stake in Deere & Company in the 3rd quarter worth $144,000. Harfst & Associates Inc. grew its position in Deere & Company by 44.2% in the 2nd quarter. Harfst & Associates Inc. now owns 1,175 shares of the industrial products company’s stock worth $145,000 after purchasing an additional 360 shares during the last quarter. Finally, YorkBridge Wealth Partners LLC grew its position in Deere & Company by 1.1% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 1,236 shares of the industrial products company’s stock worth $154,000 after purchasing an additional 13 shares during the last quarter. Institutional investors and hedge funds own 67.75% of the company’s stock.

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About Deere & Company

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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