Deere & Co. (DE) Receives “Sell” Rating from Barclays PLC

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Deere & Co. (NYSE:DE)‘s stock had its “sell” rating reaffirmed by equities research analysts at Barclays PLC in a research report issued to clients and investors on Tuesday. They currently have a $63.00 target price on the stock. Barclays PLC‘s price target suggests a potential downside of 25.04% from the company’s previous close.
Other hedge funds and institutional investors have recently bought and sold shares of the company. Natixis increased its position in Deere & Co. by 117.0% in the first quarter. Natixis now owns 452,167 shares of the company’s stock worth $34,813,000 after buying an additional 243,784 shares in the last quarter. Robecosam AG raised its stake in Deere & Co. by 0.5% in the first quarter. Robecosam AG now owns 73,470 shares of the company’s stock valued at $5,886,000 after buying an additional 390 shares during the last quarter. Sii Investments Inc. WI raised its stake in Deere & Co. by 6.1% in the first quarter. Sii Investments Inc. WI now owns 5,852 shares of the company’s stock valued at $450,000 after buying an additional 335 shares during the last quarter. Bessemer Group Inc. raised its stake in Deere & Co. by 4.9% in the first quarter. Bessemer Group Inc. now owns 8,100 shares of the company’s stock valued at $623,000 after buying an additional 381 shares during the last quarter. Finally, Allstate Corp raised its stake in Deere & Co. by 206.1% in the fourth quarter. Allstate Corp now owns 39,675 shares of the company’s stock valued at $3,026,000 after buying an additional 26,712 shares during the last quarter.
Several other equities analysts have also issued reports on the company. Piper Jaffray Cos. reaffirmed an “underweight” rating and issued a $70.00 price target on shares of Deere & Co. in a research report on Tuesday, August 30th. Jefferies Group lowered their price target on Deere & Co. from $90.00 to $85.00 and set a “hold” rating for the company in a research report on Thursday, August 25th. Deutsche Bank AG reissued a “buy” rating and issued a $101.00 target price on shares of Deere & Co. in a research report on Thursday, August 25th. Argus boosted their target price on Deere & Co. from $90.00 to $98.00 and gave the stock a “buy” rating in a research report on Tuesday, August 23rd. Finally, RBC Capital Markets reissued a “sector perform” rating and issued a $80.00 target price (up previously from $72.00) on shares of Deere & Co. in a research report on Monday, August 22nd. Eight research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $81.51.

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Deere & Co. (NYSE:DE) traded up 0.49% during trading on Tuesday, reaching $84.46. 943,127 shares of the company were exchanged. The firm’s 50-day moving average is $81.27 and its 200 day moving average is $81.59. The company has a market capitalization of $26.56 billion and a P/E ratio of 16.93. Deere & Co. has a one year low of $70.16 and a one year high of $88.63.
Deere & Co. (NYSE:DE) last released its quarterly earnings results on Friday, August 19th. The company reported $1.55 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.61. The company earned $6.72 billion during the quarter. During the same quarter in the prior year, the business posted $1.53 EPS. The firm’s quarterly revenue was down 14.3% compared to the same quarter last year. On average, analysts anticipate that Deere & Co. will post $4.30 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Friday, September 30th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.86%.
Deere & Company is engaged in equipment operations and financial services. The Company operates through three business segments: agriculture and turf, construction and forestry, and financial services. The Company’s agriculture and turf segment primarily manufactures and distributes a full line of agriculture and turf equipment and related service parts.
To view Barclays PLC’s full report, visit Barclays PLC’s official website.

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