Deere & Company (DE) Price Target Cut to $158.00 by Analysts at UBS Group

Deere & Company (NYSE:DE) had its target price lowered by UBS Group from $177.00 to $158.00 in a report released on Thursday, BenzingaRatingsTable reports. The firm currently has a buy rating on the industrial products company’s stock.

Several other equities research analysts have also commented on DE. Zacks Investment Research lowered shares of Deere & Company from a buy rating to a hold rating in a research note on Wednesday, January 23rd. Bank of America lowered shares of Deere & Company from a buy rating to a neutral rating and dropped their price target for the company from $173.00 to $170.00 in a research note on Wednesday, February 13th. Credit Suisse Group dropped their price target on shares of Deere & Company from $211.00 to $209.00 and set an outperform rating on the stock in a research note on Tuesday, February 19th. Citigroup lowered their price objective on shares of Deere & Company from $185.00 to $180.00 and set a buy rating on the stock in a research note on Tuesday, February 19th. Finally, DZ Bank lowered shares of Deere & Company from a buy rating to a hold rating in a research note on Tuesday, February 19th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have assigned a buy rating to the company. Deere & Company presently has an average rating of Hold and an average price target of $161.50.

DE opened at $136.47 on Thursday. The stock has a market cap of $44.24 billion, a P/E ratio of 14.53, a price-to-earnings-growth ratio of 1.72 and a beta of 0.90. Deere & Company has a fifty-two week low of $128.32 and a fifty-two week high of $169.99. The company has a current ratio of 1.94, a quick ratio of 1.66 and a debt-to-equity ratio of 2.37.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Friday, May 17th. The industrial products company reported $3.52 EPS for the quarter, missing the consensus estimate of $3.57 by ($0.05). Deere & Company had a net margin of 8.52% and a return on equity of 28.76%. The firm had revenue of $10.27 billion during the quarter, compared to analyst estimates of $10.19 billion. During the same quarter in the previous year, the business posted $3.14 EPS. Deere & Company’s revenue for the quarter was up 5.4% compared to the same quarter last year. Sell-side analysts predict that Deere & Company will post 10.27 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Friday, March 29th were paid a dividend of $0.76 per share. The ex-dividend date was Thursday, March 28th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 2.23%. Deere & Company’s dividend payout ratio is presently 32.37%.

Several hedge funds and other institutional investors have recently bought and sold shares of DE. Rehmann Capital Advisory Group boosted its holdings in Deere & Company by 11.3% during the first quarter. Rehmann Capital Advisory Group now owns 1,223 shares of the industrial products company’s stock worth $195,000 after buying an additional 124 shares in the last quarter. Trust Co. of Toledo NA OH boosted its holdings in Deere & Company by 18.1% during the first quarter. Trust Co. of Toledo NA OH now owns 9,663 shares of the industrial products company’s stock worth $1,545,000 after buying an additional 1,481 shares in the last quarter. GYL Financial Synergies LLC bought a new stake in Deere & Company during the first quarter worth approximately $283,000. Advisory Services Network LLC boosted its holdings in Deere & Company by 1.9% during the first quarter. Advisory Services Network LLC now owns 15,193 shares of the industrial products company’s stock worth $2,428,000 after buying an additional 278 shares in the last quarter. Finally, Nordea Investment Management AB boosted its holdings in Deere & Company by 24.6% during the first quarter. Nordea Investment Management AB now owns 66,866 shares of the industrial products company’s stock worth $10,690,000 after buying an additional 13,201 shares in the last quarter. Institutional investors and hedge funds own 67.05% 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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