John Deere (DE) Raised to A- at TheStreet

TheStreet upgraded shares of John Deere (NYSE:DE) from a c+ rating to an a- rating in a research report sent to investors on Friday.

A number of other equities analysts have also commented on DE. Bank of America raised shares of John Deere from a neutral rating to a buy rating and set a $159.00 price objective for the company in a research note on Thursday, May 3rd. ValuEngine raised shares of John Deere from a hold rating to a buy rating in a research note on Friday, February 2nd. BMO Capital Markets reaffirmed an outperform rating and issued a $195.00 price objective (up previously from $190.00) on shares of John Deere in a research note on Wednesday, February 21st. Royal Bank of Canada reaffirmed a buy rating and issued a $200.00 price objective on shares of John Deere in a research note on Wednesday, April 18th. Finally, UBS reaffirmed a neutral rating and issued a $175.00 price objective (up previously from $150.00) on shares of John Deere in a research note on Tuesday, February 20th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and sixteen have assigned a buy rating to the company. The stock has a consensus rating of Buy and a consensus target price of $175.17.

Get John Deere alerts:

Shares of NYSE:DE opened at $158.33 on Friday. The company has a market cap of $50.27 billion, a P/E ratio of 23.70, a price-to-earnings-growth ratio of 2.88 and a beta of 0.81. John Deere has a 1-year low of $112.87 and a 1-year high of $175.26. The company has a quick ratio of 1.64, a current ratio of 1.91 and a debt-to-equity ratio of 2.52.

John Deere (NYSE:DE) last issued its earnings results on Friday, May 18th. The industrial products company reported $3.14 earnings per share for the quarter, missing the Zacks’ consensus estimate of $3.33 by ($0.19). The business had revenue of $9.75 billion for the quarter, compared to the consensus estimate of $9.83 billion. John Deere had a return on equity of 27.67% and a net margin of 5.46%. The company’s quarterly revenue was up 34.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.14 earnings per share. sell-side analysts anticipate that John Deere will post 9.51 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 1st. Shareholders of record on Thursday, March 29th were given a $0.60 dividend. The ex-dividend date of this dividend was Wednesday, March 28th. This represents a $2.40 dividend on an annualized basis and a yield of 1.52%. John Deere’s payout ratio is 35.93%.

In other news, CEO Samuel R. Allen sold 269,353 shares of the firm’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $163.83, for a total transaction of $44,128,101.99. Following the transaction, the chief executive officer now owns 361,166 shares in the company, valued at approximately $59,169,825.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jean H. Gilles sold 15,083 shares of the firm’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $166.98, for a total transaction of $2,518,559.34. Following the transaction, the insider now owns 69,089 shares in the company, valued at approximately $11,536,481.22. The disclosure for this sale can be found here. In the last quarter, insiders sold 316,761 shares of company stock valued at $52,011,683. Insiders own 0.74% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its holdings in shares of John Deere by 5.5% during the 1st quarter. BlackRock Inc. now owns 18,857,199 shares of the industrial products company’s stock valued at $2,928,897,000 after purchasing an additional 978,907 shares in the last quarter. Loomis Sayles & Co. L P raised its holdings in shares of John Deere by 0.6% during the 1st quarter. Loomis Sayles & Co. L P now owns 6,489,578 shares of the industrial products company’s stock valued at $1,007,961,000 after purchasing an additional 39,778 shares in the last quarter. Lazard Asset Management LLC raised its holdings in shares of John Deere by 11.4% during the 4th quarter. Lazard Asset Management LLC now owns 2,740,365 shares of the industrial products company’s stock valued at $428,894,000 after purchasing an additional 280,750 shares in the last quarter. TIAA CREF Investment Management LLC raised its holdings in shares of John Deere by 27.0% during the 4th quarter. TIAA CREF Investment Management LLC now owns 1,392,357 shares of the industrial products company’s stock valued at $217,918,000 after purchasing an additional 296,148 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its holdings in shares of John Deere by 3.7% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 1,315,073 shares of the industrial products company’s stock valued at $204,258,000 after purchasing an additional 46,396 shares in the last quarter. Institutional investors and hedge funds own 66.18% of the company’s stock.

About John Deere

Deere & Company, together with its subsidiaries, manufactures and distributes agriculture and turf, and construction and forestry equipment worldwide. The company's Agriculture and Turf segment provides agriculture and turf equipment, and related service parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; related harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; and tillage, seeding, and application equipment comprising sprayers, and nutrient management and soil preparation machinery.

Analyst Recommendations for John Deere (NYSE:DE)

Leave a Reply

Your email address will not be published. Required fields are marked *