UBS Group Cuts Deere & Company (NYSE:DE) Price Target to $160.00

Deere & Company (NYSE:DE) had its price target cut by UBS Group from $167.00 to $160.00 in a research note released on Monday morning, BenzingaRatingsTable reports. They currently have a neutral rating on the industrial products company’s stock.

Several other research firms have also issued reports on DE. Berenberg Bank started coverage on Deere & Company in a report on Thursday, May 9th. They set a hold rating on the stock. Credit Suisse Group reiterated an outperform rating and set a $197.00 target price (up previously from $176.00) on shares of Deere & Company in a report on Monday. Jefferies Financial Group upgraded Deere & Company from a hold rating to a buy rating and upped their target price for the stock from $150.00 to $190.00 in a report on Monday, June 24th. Stifel Nicolaus dropped their target price on Deere & Company from $180.00 to $171.00 and set a buy rating on the stock in a report on Monday, May 20th. Finally, Citigroup reiterated a buy rating and set a $170.00 target price (down previously from $180.00) on shares of Deere & Company in a report on Thursday, May 16th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and thirteen have assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $166.89.

DE opened at $154.86 on Monday. Deere & Company has a 52-week low of $128.32 and a 52-week high of $171.22. The firm has a market capitalization of $47.31 billion, a PE ratio of 16.49, a PEG ratio of 1.85 and a beta of 1.10. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.73 and a current ratio of 1.99. The business’s 50-day simple moving average is $160.03 and its 200 day simple moving average is $158.32.

Deere & Company (NYSE:DE) last released its earnings results on Friday, August 16th. The industrial products company reported $2.71 earnings per share (EPS) for the quarter, missing the 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 company had revenue of $8.97 billion for the quarter, compared to the consensus estimate of $9.38 billion. During the same quarter in the previous year, the company posted $2.59 EPS. The business’s revenue was down 3.4% on a year-over-year basis. On average, research analysts forecast that Deere & Company will post 10.02 earnings per share for the current year.

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

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

Institutional investors have recently bought and sold shares of the company. SRS Capital Advisors Inc. acquired a new stake in Deere & Company during the second quarter worth approximately $28,000. Private Ocean LLC grew its position in Deere & Company by 560.0% during the first quarter. Private Ocean LLC now owns 198 shares of the industrial products company’s stock worth $32,000 after buying an additional 168 shares in the last quarter. Ellis Investment Partners LLC acquired a new stake in Deere & Company during the first quarter worth approximately $33,000. Arcus Capital Partners LLC acquired a new stake in Deere & Company during the second quarter worth approximately $33,000. Finally, Orrstown Financial Services Inc. grew its position in Deere & Company by 116.0% during the second quarter. Orrstown Financial Services Inc. now owns 216 shares of the industrial products company’s stock worth $36,000 after buying an additional 116 shares in the last quarter. 67.67% of the stock is currently owned by institutional investors.

Deere & Company Company Profile

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.

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Analyst Recommendations for Deere & Company (NYSE:DE)

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