Deere & Company (NYSE:DE) Price Target Lowered to $155.00 at Deutsche Bank
Deere & Company (NYSE:DE) had its target price trimmed by Deutsche Bank from $163.00 to $155.00 in a report released on Wednesday morning, BenzingaRatingsTable reports. The firm currently has a hold rating on the industrial products company’s stock.
Other equities analysts also recently issued research reports about the stock. JPMorgan Chase & Co. downgraded shares of Deere & Company from a neutral rating to an underweight rating and cut their price target for the stock from $154.00 to $132.00 in a report on Tuesday, May 14th. Jefferies Financial Group upgraded shares of Deere & Company from a hold rating to a buy rating and increased their price target for the stock from $150.00 to $190.00 in a report on Monday, June 24th. Zacks Investment Research downgraded shares of Deere & Company from a hold rating to a sell rating in a report on Wednesday, April 17th. Citigroup reiterated a buy rating and issued a $170.00 price target (down previously from $180.00) on shares of Deere & Company in a report on Thursday, May 16th. Finally, Stifel Nicolaus cut their price target on shares of Deere & Company from $180.00 to $171.00 and set a buy rating on the stock in a report on Monday, May 20th. 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. The company has an average rating of Hold and a consensus target price of $167.21.
Shares of DE traded down $0.66 during mid-day trading on Wednesday, hitting $142.51. 707,333 shares of the company traded hands, compared to its average volume of 1,907,151. Deere & Company has a 1-year low of $128.32 and a 1-year high of $171.22. The company has a debt-to-equity ratio of 2.37, a current ratio of 1.94 and a quick ratio of 1.66. The company has a market capitalization of $46.61 billion, a P/E ratio of 15.18, a PEG ratio of 1.81 and a beta of 1.10. The firm’s 50 day simple moving average is $162.18.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Friday, June 28th were given a $0.76 dividend. The ex-dividend date of this dividend was Thursday, June 27th. This represents a $3.04 annualized dividend and a yield of 2.13%. Deere & Company’s dividend payout ratio is presently 32.37%.
In other news, COO John C. May II sold 5,228 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $170.00, for a total transaction of $888,760.00. Following the transaction, the chief operating officer now owns 49,310 shares in the company, valued at approximately $8,382,700. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO John C. May II sold 16,468 shares of the stock in a transaction that occurred on 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 transaction, the chief operating officer now owns 60,550 shares in the company, valued at approximately $9,882,365.50. The disclosure for this sale can be found here. Corporate insiders own 0.71% of the company’s stock.
Several large investors have recently made changes to their positions in DE. BlackRock Inc. raised its stake in Deere & Company by 0.4% in the 1st quarter. BlackRock Inc. now owns 18,523,593 shares of the industrial products company’s stock valued at $2,960,812,000 after purchasing an additional 78,890 shares during the last quarter. FMR LLC raised its stake in Deere & Company by 13.6% in the 1st quarter. FMR LLC now owns 8,713,051 shares of the industrial products company’s stock valued at $1,392,694,000 after purchasing an additional 1,043,039 shares during the last quarter. Northern Trust Corp raised its stake in Deere & Company by 1.0% in the 2nd quarter. Northern Trust Corp now owns 3,925,592 shares of the industrial products company’s stock valued at $650,510,000 after purchasing an additional 38,701 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Deere & Company by 67.0% in the 1st quarter. JPMorgan Chase & Co. now owns 3,733,015 shares of the industrial products company’s stock valued at $596,683,000 after purchasing an additional 1,497,433 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in Deere & Company by 7.2% in the 4th quarter. Geode Capital Management LLC now owns 3,655,571 shares of the industrial products company’s stock valued at $544,229,000 after purchasing an additional 244,266 shares during the last quarter. Hedge funds and other institutional investors own 67.85% 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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