Deere Gets a Hold Rating from Robert W. Baird

By Jason Carr

Robert W. Baird analyst Mircea Dobre reiterated a Hold rating on Deere (NYSE: DE) on October 10 and set a price target of $140. The company’s shares opened today at $127.60, close to its 52-week high of $132.50.

According to TipRanks.com, Dobre is a 4-star analyst with an average return of 10.5% and a 67.5% success rate. Dobre covers the Industrial Goods sector, focusing on stocks such as Lincoln Electric Holdings, John Bean Technologies, and Hyster-Yale Materials.

Currently, the analyst consensus on Deere is Moderate Buy and the average price target is $139.50, representing a 9.3% upside.

In a report issued on September 29, Piper Jaffray also reiterated a Hold rating on the stock with a $119 price target.

Based on Deere’s latest earnings report for the quarter ending July 31, the company posted quarterly revenue of $7.71 billion and quarterly net profit of $642 million. In comparison, last year the company earned revenue of $6.65 billion and had a net profit of $489 million.

Based on the recent corporate insider activity of 65 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of DE in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Deere & Co. manufactures and distributes a complete line of equipment used in agriculture, construction, forestry and turf care. It also manufactures engines and other power train components. The firm also provides credit and other services to customers around the world.