Deutsche Bank Cuts Deere & Company (NYSE:DE) Price Target to $155.00

Deere & Company (NYSE:DE) had its price target trimmed by Deutsche Bank from $163.00 to $155.00 in a research note issued to investors on Wednesday, BenzingaRatingsTable reports. They currently have a hold rating on the industrial products company’s stock.

DE has been the subject of several other reports. Jefferies Financial Group upgraded shares of Deere & Company from a hold rating to a buy rating and upped their price target for the company from $150.00 to $190.00 in a research report on Monday, June 24th. UBS Group lowered shares of Deere & Company from a buy rating to a neutral rating and upped their price target for the company from $158.00 to $167.00 in a research report on Wednesday, July 10th. JPMorgan Chase & Co. lowered shares of Deere & Company from a neutral rating to an underweight rating and cut their price target for the company from $154.00 to $132.00 in a research report on Tuesday, May 14th. Macquarie set a $132.00 target price on shares of Deere & Company and gave the stock a hold rating in a report on Monday, May 20th. Finally, Berenberg Bank assumed coverage on shares of Deere & Company in a report on Thursday, May 9th. They set a hold rating for the company. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and thirteen have given a buy rating to the stock. The stock currently has a consensus rating of Hold and an average price target of $167.21.

NYSE DE opened at $149.23 on Wednesday. The company has a 50-day simple moving average of $161.38 and a two-hundred day simple moving average of $158.55. The company has a quick ratio of 1.66, a current ratio of 1.94 and a debt-to-equity ratio of 2.37. Deere & Company has a 12-month low of $128.32 and a 12-month high of $171.22. The firm has a market cap of $45.38 billion, a price-to-earnings ratio of 15.89, a PEG ratio of 1.77 and a beta of 1.10.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Friday, August 16th. The industrial products company reported $2.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.80 by ($0.09). Deere & Company had a net margin of 8.52% and a return on equity of 28.76%. The business had revenue of $8.97 billion for the quarter, compared to analysts’ expectations of $9.38 billion. During the same quarter in the previous year, the company earned $2.59 earnings per share. The business’s quarterly revenue was down 3.4% on a year-over-year basis. Equities analysts expect that Deere & Company will post 10.19 earnings per share for the current fiscal year.

The company also recently announced 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. The ex-dividend date of this dividend was Thursday, June 27th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 2.04%. Deere & Company’s dividend payout ratio is currently 32.37%.

In related news, COO John C. May II sold 16,468 shares of the stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $163.21, for a total value of $2,687,742.28. Following the completion of the transaction, the chief operating officer now directly owns 60,550 shares of the company’s stock, valued at $9,882,365.50. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO John C. May II sold 5,228 shares of the stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $170.00, for a total transaction of $888,760.00. Following the completion of the transaction, the chief operating officer now directly owns 49,310 shares of the company’s stock, valued at $8,382,700. The disclosure for this sale can be found here. Corporate insiders own 0.71% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP grew its holdings in shares of Deere & Company by 4.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,123,218 shares of the industrial products company’s stock worth $167,531,000 after purchasing an additional 49,932 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Deere & Company by 7.2% during the 4th quarter. Geode Capital Management LLC now owns 3,655,571 shares of the industrial products company’s stock worth $544,229,000 after purchasing an additional 244,266 shares in the last quarter. Mercer Global Advisors Inc. ADV acquired a new stake in shares of Deere & Company during the 1st quarter worth approximately $797,000. First Manhattan Co. grew its holdings in shares of Deere & Company by 4.2% during the 1st quarter. First Manhattan Co. now owns 1,699 shares of the industrial products company’s stock worth $271,000 after purchasing an additional 68 shares in the last quarter. Finally, Steinberg Global Asset Management acquired a new stake in shares of Deere & Company during the 1st quarter worth approximately $398,000. 67.85% of the stock is owned by institutional investors.

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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Analyst Recommendations for Deere & Company (NYSE:DE)

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