Deere & Company (NYSE:DE) had its price target reduced by Wells Fargo & Co from $185.00 to $170.00 in a research note released on Monday, The Fly reports. They currently have an outperform rating on the industrial products company’s stock. The analysts noted that the move was a valuation call.

DE has been the topic of a number of other research reports. Barclays reiterated a buy rating and set a $167.00 target price on shares of Deere & Company in a research report on Monday, July 15th. Citigroup reiterated a buy rating and set a $170.00 target price (down previously from $180.00) on shares of Deere & Company in a research report on Thursday, May 16th. Robert W. Baird cut their target price on Deere & Company from $170.00 to $150.00 and set a positive rating on the stock in a research report on Tuesday, August 13th. Macquarie set a $132.00 target price on Deere & Company and gave the stock a hold rating in a research report on Monday, May 20th. Finally, Stephens initiated coverage on Deere & Company in a research report on Wednesday, August 14th. They set an equal weight rating and a $160.00 target price on the stock. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and thirteen have assigned a buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $166.89.

DE opened at $154.86 on Monday. The business’s 50-day simple moving average is $160.03 and its 200-day simple moving average is $158.32. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.73 and a current ratio of 1.99. Deere & Company has a one year low of $128.32 and a one year high of $171.22. The stock has a market capitalization of $47.31 billion, a P/E ratio of 16.49, a price-to-earnings-growth ratio of 1.85 and a beta of 1.10.

Deere & Company (NYSE:DE) last posted its earnings results on Friday, August 16th. The industrial products company reported $2.71 EPS for the quarter, missing the Zacks’ consensus estimate of $2.80 by ($0.09). Deere & Company had a return on equity of 27.75% and a net margin of 8.55%. The firm had revenue of $8.97 billion for the quarter, compared to analyst estimates of $9.38 billion. During the same quarter last year, the firm posted $2.59 EPS. 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 fiscal year.

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

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

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Endurance Wealth Management Inc. boosted its stake in shares of Deere & Company by 3.9% during the 2nd quarter. Endurance Wealth Management Inc. now owns 1,614 shares of the industrial products company’s stock worth $267,000 after acquiring an additional 60 shares in the last quarter. Enterprise Financial Services Corp lifted its stake in Deere & Company by 2.5% in the 1st quarter. Enterprise Financial Services Corp now owns 2,838 shares of the industrial products company’s stock valued at $454,000 after buying an additional 68 shares in the last quarter. Penserra Capital Management LLC lifted its stake in Deere & Company by 12.2% in the 1st quarter. Penserra Capital Management LLC now owns 646 shares of the industrial products company’s stock valued at $103,000 after buying an additional 70 shares in the last quarter. Nelson Roberts Investment Advisors LLC lifted its stake in Deere & Company by 34.8% in the 2nd quarter. Nelson Roberts Investment Advisors LLC now owns 271 shares of the industrial products company’s stock valued at $45,000 after buying an additional 70 shares in the last quarter. Finally, Wesbanco Bank Inc. lifted its stake in Deere & Company by 0.6% in the 2nd quarter. Wesbanco Bank Inc. now owns 13,626 shares of the industrial products company’s stock valued at $2,258,000 after buying an additional 75 shares in the last quarter. 67.67% of the stock is currently 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.

Read More: Initial Public Offering (IPO)

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Analyst Recommendations for Deere & Company (NYSE:DE)

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