Shares of Deere & Company (NYSE:DE) are on a tear this morning after the company reported their Fourth Quarter earnings before the bell. Net income came in at $1.08 per share, down from the $1.83 per share from a year ago, but surpassing analyst expectations. Analysts had expected on average an EPS of around $1.05 for the quarter. The company did however, narrowly miss on the revenue side of the equation. It will be interesting to see if they can turn things around further over the next several quarters.The stock is up 2.32% or $1.77 after the positive news, hitting $78.11 per share. About 3.58M shares traded hands or 2.87% up from the average. DE has declined 13.83% since April 23, 2015 and is downtrending. It has underperformed by 12.81% the S&P500.
Out of 15 analysts covering Deere & Company (NYSE:DE), 3 rate it “Buy”, 4 “Sell”, while 8 “Hold”. This means 20% are positive. $105 is the highest target while $63 is the lowest. The $82.44 average target is 5.54% above today’s ($78.11) stock price. Deere & Company was the topic in 28 analyst reports since July 27, 2015 according to StockzIntelligence Inc. UBS maintained the stock on November 19 with “Sell” rating. BMO Capital Markets maintained it with “Market Perform” rating and $70 target price in an October 13 report. Societe Generale initiated the shares of DE in a report on November 16 with “Hold” rating. S&P Research maintained the firm’s rating on September 25. S&P Research has “Strong Sell” rating and $65 price target. Finally, Avondale initiated the stock with “Market Outperform” rating in an October 15 report.
The institutional sentiment increased to 0.8 in Q2 2015. Its up 0.05, from 0.75 in 2015Q1. The ratio is positive, as 69 funds sold all Deere & Company shares owned while 396 reduced positions. 102 funds bought stakes while 270 increased positions. They now own 230.92 million shares or 6.55% less from 247.10 million shares in 2015Q1.
M Holdings Securities Inc. holds 35.1% of its portfolio in Deere & Company for 694 shares. Norman Fields Gottscho Capital Management Llc owns 104,905 shares or 6.35% of their US portfolio. Moreover, Generation Investment Management Llp has 5.59% invested in the company for 4.30 million shares. The Texas-based Corda Investment Management Llc. has invested 4.91% in the stock. Weybosset Research & Management Llc, a Rhode Island-based fund reported 68,083 shares.
Since March 17, 2015, the stock had 0 buys, and 5 sales for $7.97 million net activity. Gilles Jean H sold 4,463 shares worth $438,290. Guinn Max A sold 14,374 shares worth $1.40 million. Von Pentz Markwart sold 24,287 shares worth $2.31M. Field James M. sold 28,228 shares worth $2.68M. The insider Jones Mary K.W. sold 7,000 shares worth $630,004.
Deere & Company is engaged in equipment activities and financial services. The company has a market cap of $25.07 billion. The Firm operates through three business divisions: agriculture and turf, construction and forestry, and financial services. It has 11.99 P/E ratio. The Company’s agriculture and turf segment primarily makes and distributes a full line of agriculture and turf equipment and related service parts.