Deere & Company (NYSE:DE) Raised to “Buy” at Deutsche Bank

Deutsche Bank upgraded shares of Deere & Company (NYSE:DE) to a buy rating in a research report released on Tuesday morning, The Fly reports. They currently have $186.00 price objective on the industrial products company’s stock.

A number of other analysts have also recently commented on DE. William Blair raised Deere & Company from a market perform rating to an outperform rating in a research report on Thursday, May 28th. Citigroup boosted their price target on Deere & Company from $155.00 to $165.00 and gave the stock a neutral rating in a research report on Thursday, June 18th. Goldman Sachs Group dropped their price target on Deere & Company from $208.00 to $182.00 and set a buy rating on the stock in a research report on Thursday, March 19th. Wells Fargo & Co dropped their price target on Deere & Company from $160.00 to $145.00 and set an equal weight rating on the stock in a research report on Thursday, April 16th. Finally, Telsey Advisory Group raised Deere & Company from a market perform rating to an outperform rating in a research report on Friday, March 27th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have issued a buy rating to the company’s stock. The company presently has an average rating of Buy and an average target price of $169.70.

Deere & Company stock opened at $157.90 on Tuesday. The stock’s 50 day simple moving average is $150.28 and its two-hundred day simple moving average is $154.19. The company has a debt-to-equity ratio of 2.89, a quick ratio of 1.95 and a current ratio of 2.20. The stock has a market cap of $49.07 billion, a price-to-earnings ratio of 17.90, a PEG ratio of 3.71 and a beta of 0.95. Deere & Company has a fifty-two week low of $106.14 and a fifty-two week high of $181.99.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Friday, May 22nd. The industrial products company reported $2.11 EPS for the quarter, topping analysts’ consensus estimates of $1.62 by $0.49. Deere & Company had a return on equity of 23.01% and a net margin of 7.62%. The firm had revenue of $8.22 billion for the quarter, compared to analysts’ expectations of $7.68 billion. During the same period in the previous year, the firm posted $3.52 EPS. The business’s revenue for the quarter was down 19.9% compared to the same quarter last year. On average, analysts predict that Deere & Company will post 6.03 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Tuesday, June 30th will be paid a dividend of $0.76 per share. The ex-dividend date of this dividend is Monday, June 29th. This represents a $3.04 dividend on an annualized basis and a yield of 1.93%. Deere & Company’s dividend payout ratio is presently 30.58%.

A number of institutional investors and hedge funds have recently made changes to their positions in DE. Capital Advisory Group Advisory Services LLC purchased a new stake in Deere & Company during the 1st quarter valued at $28,000. Atlas Private Wealth Management purchased a new stake in Deere & Company during the 4th quarter valued at $29,000. Solstein Capital LLC purchased a new stake in Deere & Company during the 4th quarter valued at $35,000. Danda Trouve Investment Management Inc. purchased a new stake in Deere & Company during the 4th quarter valued at $35,000. Finally, MBE Wealth Management LLC purchased a new stake in Deere & Company during the 1st quarter valued at $35,000. Institutional investors and hedge funds own 66.88% of the company’s stock.

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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