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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%.

COPYRIGHT VIOLATION WARNING: "Deere & Company (DE) Shares Bought by Chevy Chase Trust Holdings Inc." was first reported by BBNS and is owned by of BBNS. If you are reading this story on another publication, it was illegally stolen and reposted in violation of global copyright and trademark law.

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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