Deere & Company (NYSE:DE) – Research analysts at Seaport Global Securities upped their Q4 2018 earnings estimates for shares of Deere & in a report issued on Monday. Seaport Global Securities analyst M. Shlisky now anticipates that the industrial products company will post earnings per share of $1.81 for the quarter, up from their prior forecast of $1.47.
Other research analysts have also recently issued research reports about the company. TheStreet raised Deere & from a “c+” rating to an “a-” rating in a research report on Friday, May 19th. Credit Suisse Group set a $132.00 price objective on Deere & and gave the stock a “buy” rating in a report on Saturday, May 20th. Stifel Nicolaus increased their price objective on Deere & from $126.00 to $135.00 and gave the stock a “buy” rating in a report on Monday, May 22nd. Citigroup Inc. increased their price objective on Deere & from $125.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, May 23rd. Finally, Bank of America Corporation increased their price objective on Deere & from $130.00 to $145.00 and gave the stock a “buy” rating in a report on Wednesday, May 24th. Two investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $126.63.
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Shares of Deere & (DE) traded down 0.74% during midday trading on Wednesday, reaching $116.61. 1,154,345 shares of the company’s stock traded hands. The stock has a 50 day moving average of $126.73 and a 200-day moving average of $117.46. Deere & has a 52-week low of $79.37 and a 52-week high of $132.50. The stock has a market cap of $37.41 billion, a price-to-earnings ratio of 19.37 and a beta of 0.67. Deere & also was the recipient of some unusual options trading on Monday. Stock investors bought 731 call options on the company. This is an increase of approximately 255% compared to the typical daily volume of 206 call options.
Deere & (NYSE:DE) last announced its quarterly earnings results on Friday, August 18th. The industrial products company reported $1.97 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.93 by $0.04. The firm had revenue of $6.83 billion for the quarter, compared to analyst estimates of $6.92 billion. Deere & had a net margin of 6.81% and a return on equity of 25.96%. The business’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.55 EPS.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Stockholders of record on Friday, June 30th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $2.40 annualized dividend and a dividend yield of 2.04%. Deere &’s dividend payout ratio (DPR) is presently 40.20%.
In other news, insider Cory J. Reed sold 5,601 shares of the stock in a transaction dated Thursday, May 25th. The stock was sold at an average price of $123.00, for a total transaction of $688,923.00. Following the transaction, the insider now directly owns 10,568 shares in the company, valued at approximately $1,299,864. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Samuel R. Allen sold 62,704 shares of the stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $125.00, for a total value of $7,838,000.00. Following the transaction, the chief executive officer now owns 333,492 shares in the company, valued at $41,686,500. The disclosure for this sale can be found here. Insiders have sold a total of 164,981 shares of company stock worth $20,383,857 over the last quarter. Corporate insiders own 0.75% of the company’s stock.
A number of large investors have recently modified their holdings of the stock. Ledyard National Bank boosted its stake in shares of Deere & by 5.0% in the first quarter. Ledyard National Bank now owns 1,050 shares of the industrial products company’s stock valued at $114,000 after buying an additional 50 shares in the last quarter. QCI Asset Management Inc. NY boosted its stake in shares of Deere & by 18.8% in the second quarter. QCI Asset Management Inc. NY now owns 950 shares of the industrial products company’s stock valued at $117,000 after buying an additional 150 shares in the last quarter. Guardian Life Insurance Co. of America boosted its stake in shares of Deere & by 1.4% in the first quarter. Guardian Life Insurance Co. of America now owns 1,132 shares of the industrial products company’s stock valued at $123,000 after buying an additional 16 shares in the last quarter. Arrow Financial Corp boosted its stake in shares of Deere & by 5.2% in the second quarter. Arrow Financial Corp now owns 1,010 shares of the industrial products company’s stock valued at $125,000 after buying an additional 50 shares in the last quarter. Finally, MCF Advisors LLC boosted its stake in shares of Deere & by 26.2% in the first quarter. MCF Advisors LLC now owns 1,160 shares of the industrial products company’s stock valued at $126,000 after buying an additional 241 shares in the last quarter. Institutional investors own 67.91% of the company’s stock.
About Deere &
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.
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