Deere & Company (DE) Given Buy Rating at Credit Suisse Group

Credit Suisse Group reaffirmed their buy rating on shares of Deere & Company (NYSE:DE) in a report issued on Thursday morning. The brokerage currently has a $162.00 target price on the industrial products company’s stock.

Several other research analysts have also commented on DE. Goldman Sachs Group Inc upgraded shares of Deere & Company from a buy rating to a conviction-buy rating and set a $129.75 price objective for the company in a research note on Monday, August 7th. Jefferies Group LLC reiterated a hold rating and set a $125.00 price objective on shares of Deere & Company in a research note on Wednesday, August 9th. Deutsche Bank AG reiterated a hold rating and set a $139.00 price objective (up previously from $135.00) on shares of Deere & Company in a research note on Friday, August 11th. Bank of America Corporation lowered shares of Deere & Company from a buy rating to a neutral rating and set a $145.00 price objective for the company. in a research note on Tuesday, August 15th. Finally, BMO Capital Markets restated an outperform rating and set a $150.00 price target (up previously from $140.00) on shares of Deere & Company in a research note on Wednesday, August 16th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. The company has an average rating of Hold and an average target price of $138.28.

Deere & Company (NYSE:DE) traded up $0.25 during midday trading on Thursday, hitting $145.50. 1,964,900 shares of the company traded hands, compared to its average volume of 2,388,331. The company has a debt-to-equity ratio of 2.71, a quick ratio of 1.90 and a current ratio of 2.12. The company has a market cap of $46,748.71, a price-to-earnings ratio of 21.91, a PEG ratio of 2.57 and a beta of 0.73. Deere & Company has a 1 year low of $99.84 and a 1 year high of $147.91.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Wednesday, November 22nd. The industrial products company reported $1.57 EPS for the quarter, topping the consensus estimate of $1.47 by $0.10. The firm had revenue of $7.09 billion during the quarter, compared to analyst estimates of $6.91 billion. Deere & Company had a net margin of 7.22% and a return on equity of 26.31%. Deere & Company’s revenue was up 25.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.90 EPS. analysts anticipate that Deere & Company will post 7.21 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 1st. Stockholders of record on Friday, September 29th were paid a $0.60 dividend. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.65%. Deere & Company’s payout ratio is currently 36.14%.

In related news, insider Pentz Markwart Von sold 24,143 shares of the stock in a transaction on Monday, November 6th. The shares were sold at an average price of $135.33, for a total transaction of $3,267,272.19. Following the sale, the insider now directly owns 57,086 shares of the company’s stock, valued at $7,725,448.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider John C. May II sold 22,095 shares of the stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $127.04, for a total transaction of $2,806,948.80. Following the sale, the insider now directly owns 51,429 shares in the company, valued at $6,533,540.16. The disclosure for this sale can be found here. Insiders sold 102,684 shares of company stock worth $13,270,809 in the last quarter. Company insiders own 0.85% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in DE. QCI Asset Management Inc. NY lifted its holdings in Deere & Company by 18.8% during the second quarter. QCI Asset Management Inc. NY now owns 950 shares of the industrial products company’s stock valued at $117,000 after purchasing an additional 150 shares in the last quarter. Arrow Financial Corp lifted its holdings in Deere & Company by 5.2% during the second quarter. Arrow Financial Corp now owns 1,010 shares of the industrial products company’s stock valued at $125,000 after purchasing an additional 50 shares in the last quarter. Wealthcare Advisory Partners LLC purchased a new position in Deere & Company during the third quarter valued at $144,000. Harfst & Associates Inc. lifted its holdings in Deere & Company by 44.2% during the second quarter. Harfst & Associates Inc. now owns 1,175 shares of the industrial products company’s stock valued at $145,000 after purchasing an additional 360 shares in the last quarter. Finally, YorkBridge Wealth Partners LLC lifted its holdings in Deere & Company by 1.1% during the second quarter. YorkBridge Wealth Partners LLC now owns 1,236 shares of the industrial products company’s stock valued at $154,000 after purchasing an additional 13 shares in the last quarter. 67.05% of the stock is currently owned by hedge funds and other institutional investors.

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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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