Published: Mon, August 21, 2017
Economy | By Melissa Porter

Deere's stock drops after sales miss offsets profit beat

Deere's stock drops after sales miss offsets profit beat

Liberty Mutual Group Asset Management Inc.'s holdings in Deere & were worth $1,759,000 as of its most recent SEC filing. Geode Capital Management LLC increased its position in Deere & by 11.2% in the first quarter.

Now insiders hold 2,485,324 shares in the business which makes up 0.78% of shares.

The company said revenue for the quarter rose 16.6% to $6.83 billion. Finally, Guardian Life Insurance Co. of America increased its position in Deere & by 1.4% in the first quarter. Hedge funds and other institutional investors own 67.91% of the company's stock.

As such, Deere investors are running for the hills, sending shares down almost 5% to $117.19 in Friday's trading session. Company shares have been seen trading -11.46% off of the 52 week high and 52.89% away from the 52 week low.

It is now trading at $117.31 which is much lower than the 50 day moving average which is $126.94 and just a bit higher than the 200 day moving average of $117.25.

Deere & Company now has a P/E ratio of 21.12 and the market value is 37.52B.

Deere & (NYSE:DE) last announced its earnings results on Friday, August 18th.

Deere & Co reported quarterly sales below estimates and its full-year farm equipment sales forecast indicated sluggish demand for its trademark green tractors and harvesting combines in the United States, sending its shares down 9 percent. Deere & had a ROE of 24.85% and a net profit margin of 6.52%. Next quarter's EPS is forecasted to be $1.42 and the next full year EPS is projected to be $7.22. The business's revenue for the quarter was up 16.6% compared to the same quarter a year ago.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Friday, June 30th were given a dividend of $0.60 per share. The ex-dividend date was Wednesday, June 28th. This dividend represents a yeild of $1.90 which is the dividend as a percentage of the current share price. Deere &'s payout ratio is 43.24%.

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A number of equities analysts have weighed in on the company. Equity analyst JP Morgan upgraded the stock and raised the price target on June 2 changing the price target from $84.00 to $122.00 and raising the rating from "Underweight" to "Neutral".

On August 18 the company was downgraded from "Outperform" to "Outperform" with a current price target of $150.00 in a report issued by Baird. Bank of America Corporation raised the price target on stocks of Deere & from $130.00 to $145.00 and issued the company a "buy" recommendation in a analysis report on Wed, May 24th.

On June 1 the company was changed to a "Market Perform" by William Blair a boost from the previous " rating.

These are 3 Sell Ratings, 14 Hold Ratings, 8 Buy Ratings. Cory J. Reed, Pres., John Deere Financial sold $631,808 worth of shares at an average price of $128.00 on Friday the 16th. When considering if perhaps the stock is under or overvalued, the average price target is $144.14 which is 25% above where the stock opened today. Following the sale, the insider now directly owns 10,568 shares in the company, valued at $1,299,864. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

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