Key Points
- Insider sale: Deere & Company insider Cory Reed sold 12,000 shares on Jan. 14 at an average price of $510 for a total of $6.12 million, reducing his direct holding by 36.59% to 20,792 shares.
- Recent results: Deere reported $3.93 EPS for the quarter (missing estimates by $0.03) while revenue of $12.39 billion beat consensus and rose 14.1% year-over-year; analysts expect about 19.32 EPS for the current fiscal year.
- Market and analyst view: The company has a market cap around $139.4 billion, pays a quarterly dividend of $1.62 (yield ~1.3%), and carries an average analyst rating of "Moderate Buy" with an average price target of $524.20.
Deere & Company (NYSE:DE - Get Free Report) insider Cory Reed sold 12,000 shares of the business's stock in a transaction on Wednesday, January 14th. The stock was sold at an average price of $510.00, for a total value of $6,120,000.00. Following the transaction, the insider directly owned 20,792 shares of the company's stock, valued at $10,603,920. This trade represents a 36.59% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.
Deere & Company Stock Performance
NYSE:DE opened at $515.34 on Friday. Deere & Company has a twelve month low of $404.42 and a twelve month high of $533.78. The company has a quick ratio of 2.01, a current ratio of 2.22 and a debt-to-equity ratio of 1.68. The stock's 50-day simple moving average is $477.49 and its 200 day simple moving average is $481.90. The firm has a market capitalization of $139.37 billion, a PE ratio of 27.84, a price-to-earnings-growth ratio of 1.96 and a beta of 1.00.
Deere & Company (NYSE:DE - Get Free Report) last posted its earnings results on Wednesday, November 26th. The industrial products company reported $3.93 EPS for the quarter, missing analysts' consensus estimates of $3.96 by ($0.03). The company had revenue of $12.39 billion during the quarter, compared to the consensus estimate of $9.77 billion. Deere & Company had a return on equity of 20.54% and a net margin of 11.00%.The firm's revenue was up 14.1% compared to the same quarter last year. During the same period last year, the company posted $4.55 EPS. On average, analysts anticipate that Deere & Company will post 19.32 EPS for the current fiscal year.
Deere & Company Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, February 9th. Shareholders of record on Wednesday, December 31st will be paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Wednesday, December 31st. Deere & Company's payout ratio is presently 35.01%.
Analysts Set New Price Targets
Several research firms recently weighed in on DE. JPMorgan Chase & Co. cut their price objective on Deere & Company from $480.00 to $460.00 and set a "neutral" rating on the stock in a report on Friday, December 19th. BMO Capital Markets reissued a "market perform" rating and set a $460.00 price target on shares of Deere & Company in a research note on Tuesday, December 9th. Wall Street Zen downgraded Deere & Company from a "hold" rating to a "sell" rating in a research note on Friday, November 28th. Wolfe Research raised their price objective on shares of Deere & Company from $520.00 to $550.00 and gave the company an "outperform" rating in a report on Friday, January 2nd. Finally, Sanford C. Bernstein reiterated a "market perform" rating on shares of Deere & Company in a research report on Tuesday, December 9th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, Deere & Company currently has an average rating of "Moderate Buy" and an average price target of $524.20.
Check Out Our Latest Stock Analysis on DE
Hedge Funds Weigh In On Deere & Company
A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in Deere & Company by 1.4% during the 2nd quarter. Vanguard Group Inc. now owns 22,372,671 shares of the industrial products company's stock valued at $11,376,279,000 after purchasing an additional 309,081 shares during the period. State Street Corp boosted its stake in shares of Deere & Company by 0.6% in the 2nd quarter. State Street Corp now owns 10,386,268 shares of the industrial products company's stock valued at $5,297,913,000 after purchasing an additional 64,262 shares during the last quarter. Capital World Investors increased its position in shares of Deere & Company by 5.5% during the third quarter. Capital World Investors now owns 6,233,740 shares of the industrial products company's stock worth $2,850,687,000 after buying an additional 322,582 shares during the period. Geode Capital Management LLC raised its stake in Deere & Company by 2.1% during the second quarter. Geode Capital Management LLC now owns 5,541,778 shares of the industrial products company's stock worth $2,810,807,000 after buying an additional 111,627 shares during the last quarter. Finally, Norges Bank bought a new position in Deere & Company during the second quarter worth $1,578,243,000. 68.58% of the stock is currently owned by institutional investors.
Deere & Company Company Profile
(
Get Free Report)
Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.
The company's principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.
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