Deere's Earnings Beat Not Enough To Boost Stock

Deere's Earnings Beat Not Enough To Boost Stock

Deere's Earnings Beat Not Enough To Boost Stock

The industrial products company reported $1.97 earnings per share (EPS) for the quarter, topping the Thomson Reuters' consensus estimate of $1.93 by $0.04. Parallel Advisors LLC now owns 1,504 shares of the industrial products company's stock valued at $167,000 after buying an additional 193 shares in the last quarter.

The biggest institutional shareholders in Deere & Company include Cascade Investment Llc which owns 31 million shares in the company valued at $3.15 B million. The business's revenue for the quarter was up 16.6% compared to the same quarter past year. The dividend payment was $0.600 per share for the quarter which is $2.40 annualized. TheStreet upgraded Deere & from a "c+" rating to an "a-" rating in a research note on Friday, May 19th. In a report issued on August 16, BMO analyst Joel Tiss maintained a Buy rating on DE, with a price target of $150, which implies an upside of 30% from current levels. Finally, Stifel Nicolaus increased their price objective on shares of Deere & from $126.00 to $135.00 and gave the company a "buy" rating in a research report on Monday, May 22nd. Shares saw a steep increase in trading volume of 237.36% over the normal average daily volume. The biggest holder now is Robert W Lane who owns 795,920 shares (0.25% of those outstanding), whilst Samuel R. Allen holds 270,788 (0.08% of shares outstanding) and H. J. Markley holds 165,625 (0.05% of shares outstanding). Citigroup Inc. upped their target price on Deere & from $125.00 to $145.00 and gave the company a "buy" rating in a research note on Tuesday, May 23rd. Three equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eleven have given a buy rating to the company. The company presently has an average rating of "Hold" and a consensus target price of $123.26. The stock was sold at an average price of $125.00, for a total transaction of $7,838,000.00.

In other Deere & news, CEO Samuel R. Allen sold 62,704 shares of the stock in a transaction on Thursday, June 1st. Following the completion of the transaction, the chief executive officer now owns 333,492 shares in the company, valued at $41,686,500.

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On 8/8/2017 Max A. Guinn, Insider, sold 5,000 with an average share price of $130.89 per share and the total transaction amounting to $654,450.00. Pres., John Deere Financial Cory J. Reed disclosed the sale of 4,936 shares of (DE).

Deere said sales of farm and construction equipment in the US and Canada grew 11% in its third quarter, while sales elsewhere in the world increased 25%.

The company now expects equipment sales to rise 10% for the full year, compared with its previous forecast of 9%, led by a 20% increase in South American sales of tractors and combines as a result of improving economic and political conditions in Brazil and Argentina. It operates its business through the following segments: Agriculture & Turf, Construction & Forestry and Financial Services. Equipment sales rose 17%, with agriculture and turf gear up 13% while construction and forestry products swelled 29%.

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