Deere & Company (DE) Upgraded to “Buy” by ValuEngine

Deere & Company (NYSE:DE) was upgraded by equities researchers at ValuEngine from a “hold” rating to a “buy” rating in a note issued to investors on Sunday.

Several other equities analysts have also recently issued reports on DE. Barclays assumed coverage on Deere & Company in a report on Tuesday, December 12th. They set an “overweight” rating and a $167.00 price objective for the company. BMO Capital Markets lifted their price objective on Deere & Company to $165.00 and gave the stock an “outperform” rating in a report on Tuesday, November 28th. Stifel Nicolaus lifted their price objective on Deere & Company to $161.00 and gave the stock a “buy” rating in a report on Monday, November 27th. Credit Suisse Group reaffirmed a “buy” rating and set a $162.00 price objective on shares of Deere & Company in a report on Thursday, November 23rd. Finally, Argus reaffirmed a “buy” rating and set a $165.00 price objective on shares of Deere & Company in a report on Monday, November 27th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, nine have assigned 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 price target of $143.68.

Shares of Deere & Company (NYSE:DE) opened at $156.51 on Friday. The company has a quick ratio of 1.95, a current ratio of 2.12 and a debt-to-equity ratio of 2.71. The company has a market capitalization of $50,489.34, a P/E ratio of 23.57, a PEG ratio of 2.40 and a beta of 0.77. Deere & Company has a 1-year low of $102.78 and a 1-year high of $159.10.

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

In other Deere & Company news, CFO Rajesh Kalathur sold 4,519 shares of the firm’s stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $148.92, for a total transaction of $672,969.48. Following the completion of the transaction, the chief financial officer now owns 36,288 shares of the company’s stock, valued at $5,404,008.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Cory J. Reed sold 6,416 shares of the firm’s stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $151.54, for a total value of $972,280.64. Following the transaction, the insider now directly owns 11,383 shares of the company’s stock, valued at approximately $1,724,979.82. The disclosure for this sale can be found here. Insiders have sold 202,547 shares of company stock valued at $28,528,885 in the last three months. 0.85% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the business. Bartlett & Co. LLC grew its position in shares of Deere & Company by 552.8% in the third quarter. Bartlett & Co. LLC now owns 105,048 shares of the industrial products company’s stock valued at $13,193,000 after purchasing an additional 88,955 shares during the period. Schwab Charles Investment Management Inc. grew its position in shares of Deere & Company by 3.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,139,980 shares of the industrial products company’s stock valued at $140,891,000 after purchasing an additional 40,269 shares during the period. Cutler Investment Counsel LLC grew its position in shares of Deere & Company by 1.3% in the second quarter. Cutler Investment Counsel LLC now owns 88,361 shares of the industrial products company’s stock valued at $10,921,000 after purchasing an additional 1,164 shares during the period. Sun Life Financial INC grew its position in shares of Deere & Company by 12,552.9% in the second quarter. Sun Life Financial INC now owns 2,151 shares of the industrial products company’s stock valued at $266,000 after purchasing an additional 2,134 shares during the period. Finally, IFP Advisors Inc grew its position in shares of Deere & Company by 7.7% in the third quarter. IFP Advisors Inc now owns 16,722 shares of the industrial products company’s stock valued at $2,100,000 after purchasing an additional 1,197 shares during the period. 67.36% of the stock is owned by institutional investors.

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Deere & Company Company Profile

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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