Deere & Company (DE) is Upgraded by Goldman to Buy

Deere & Company (DE) was Upgraded by Goldman to ” Buy”. Earlier the firm had a rating of “Neutral ” on the company shares. Goldman advised their investors in a research report released on Jun 3, 2016.

Many Wall Street Analysts have commented on Deere & Company. Company shares were Upgraded by UBS on May 31, 2016 to ” Buy”, Firm has raised the Price Target to $ 94 from a previous price target of $82 .Company shares were Reiterated by Piper Jaffray on May 23, 2016 to “Neutral”, Firm has raised the Price Target to $ 76 from a previous price target of $75 .

On the company’s financial health, Deere & Company reported $1.56 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on May 20, 2016. Analyst had a consensus of $1.48. The company had revenue of $7107.00 million for the quarter, compared to analysts expectations of $6659.63 million. The company’s revenue was down -3.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $2.03 EPS.

Deere & Company opened for trading at $81.96 and hit $83.01 on the upside on Wednesday, eventually ending the session at $82.83, with a gain of 0.66% or 0.54 points. The heightened volatility saw the trading volume jump to 24,51,957 shares. Company has a market cap of $26,030 M.

Investors should note that on May 25, 2016, Deere & Company announced a cash dividend of $0.6000. The company’s management has announced Jun 28, 2016 as the ex-dividend date and fixed the record date on Jun 30, 2016. The payable date has been fixed on Aug 1, 2016.

In a different news, on Dec 2, 2015, Rajesh Kalathur (Senior Vice President & CFO) sold 4,366 shares at $79.52 per share price. According to the SEC, on Jul 1, 2015, Jean H Gilles (Senior Vice President) sold 4,463 shares at $98.21 per share price. On Jun 30, 2015, Max A Guinn (President, WW C&F, Lbr Rltns) sold 14,374 shares at $97.32 per share price, according to the Form-4 filing with the securities and exchange commission.

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. The Company’s construction and forestry segment primarily manufactures and distributes a range of machines and service parts used in construction earthmoving material handling and timber harvesting. The Company’s financial services segment primarily provides credit services which include finance sales and leases by John Deere dealers of new and used agriculture and turf equipment and construction and forestry equipment.

Deere & Company

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