Deere & Company (DE) Price Target Lowered to $175.00 at Royal Bank of Canada

Deere & Company (NYSE:DE) had its target price trimmed by Royal Bank of Canada from $190.00 to $175.00 in a research report sent to investors on Monday morning, The Fly reports. The firm currently has an outperform rating on the industrial products company’s stock.

Several other equities research analysts have also issued reports on the stock. Deutsche Bank lowered their price target on shares of Deere & Company from $159.00 to $148.00 and set a hold rating on the stock in a report on Monday. Citigroup reissued a buy rating and issued a $170.00 price target (down previously from $180.00) on shares of Deere & Company in a report on Thursday, May 16th. UBS Group began coverage on shares of Deere & Company in a report on Wednesday, May 15th. They issued a neutral rating on the stock. JPMorgan Chase & Co. lowered shares of Deere & Company from a neutral rating to an underweight rating and lowered their price target for the company from $154.00 to $132.00 in a report on Tuesday, May 14th. Finally, Robert W. Baird lowered shares of Deere & Company from an outperform rating to a neutral rating and lowered their price target for the company from $166.00 to $150.00 in a report on Monday, May 13th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and ten have assigned a buy rating to the company. Deere & Company currently has an average rating of Hold and a consensus target price of $166.50.

NYSE:DE opened at $135.37 on Monday. The firm has a market cap of $42.94 billion, a P/E ratio of 14.42, a P/E/G ratio of 1.42 and a beta of 0.90. The company has a quick ratio of 1.68, a current ratio of 1.98 and a debt-to-equity ratio of 2.46. Deere & Company has a one year low of $128.32 and a one year high of $169.99.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Friday, May 17th. The industrial products company reported $3.52 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $3.57 by ($0.05). The business had revenue of $10.27 billion during the quarter, compared to the consensus estimate of $10.19 billion. Deere & Company had a net margin of 8.85% and a return on equity of 28.83%. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period last year, the firm earned $3.14 EPS. As a group, analysts forecast that Deere & Company will post 11.16 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Friday, March 29th were issued a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 2.25%. The ex-dividend date was Thursday, March 28th. Deere & Company’s payout ratio is 32.37%.

Several institutional investors and hedge funds have recently bought and sold shares of DE. Morgan Stanley grew its holdings in shares of Deere & Company by 56.1% in the 3rd quarter. Morgan Stanley now owns 1,874,873 shares of the industrial products company’s stock worth $281,850,000 after purchasing an additional 674,058 shares during the last quarter. Vanguard Group Inc grew its holdings in shares of Deere & Company by 0.9% in the 3rd quarter. Vanguard Group Inc now owns 22,698,615 shares of the industrial products company’s stock worth $3,412,282,000 after purchasing an additional 210,597 shares during the last quarter. BKD Wealth Advisors LLC bought a new stake in shares of Deere & Company in the 4th quarter worth about $203,000. Lavaca Capital LLC bought a new stake in shares of Deere & Company in the 4th quarter worth about $41,000. Finally, Physicians Financial Services Inc. grew its holdings in shares of Deere & Company by 2.0% in the 4th quarter. Physicians Financial Services Inc. now owns 6,120 shares of the industrial products company’s stock worth $913,000 after purchasing an additional 122 shares during the last quarter. 68.93% of the stock is currently owned by institutional investors and hedge funds.

About Deere & Company

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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