Notable Mover: Is Buying 52-Week Stock Like Deere & Company a Winning Strategy?

Notable Mover: Is Buying 52 Week Stock Like Deere & Company a Winning Strategy?

The stock of Deere & Company (NYSE:DE) hit a new 52-week high and has $95.31 target or 3.00% above today’s $92.53 share price. The 5 months bullish chart indicates low risk for the $29.15 billion company. The 1-year high was reported on Nov, 22 by Barchart.com. If the $95.31 price target is reached, the company will be worth $874.50 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 441,075 shares traded hands. Deere & Company (NYSE:DE) has risen 9.54% since April 20, 2016 and is uptrending. It has outperformed by 4.99% the S&P500.

Deere & Company (NYSE:DE) Ratings Coverage

Out of 19 analysts covering Deere & Company (NYSE:DE), 8 rate it a “Buy”, 5 “Sell”, while 6 “Hold”. This means 42% are positive. $105 is the highest target while $63 is the lowest. The $87.26 average target is -5.70% below today’s ($92.53) stock price. Deere & Company has been the topic of 52 analyst reports since July 27, 2015 according to StockzIntelligence Inc. The firm has “Buy” rating by Zacks given on Monday, August 24. The stock of Deere & Company (NYSE:DE) earned “Sector Perform” rating by RBC Capital Markets on Monday, August 24. UBS maintained the shares of DE in a report on Thursday, November 19 with “Sell” rating. UBS maintained it with “Neutral” rating and $87 target price in Monday, August 22 report. The rating was maintained by Credit Suisse on Monday, August 22 with “Outperform”. The stock of Deere & Company (NYSE:DE) earned “Underweight” rating by Morgan Stanley on Monday, August 22. The firm earned “Outperform” rating on Monday, October 31 by Robert W. Baird. The firm has “Buy” rating given on Wednesday, November 18 by Deutsche Bank. The firm has “Buy” rating by Goldman Sachs given on Friday, June 3. The company was upgraded on Monday, October 10 by Wells Fargo.

According to Zacks Investment Research, “Deere & Company is the one world’s foremost producers of agricultural equipment as well as a leading manufacturer of construction, forestry, and commercial and consumer equipment. The company, in addition, provides credit, special technology, and managed health-care products and services. (Company Press Release)”

Insitutional Activity: The institutional sentiment increased to 0.75 in 2016 Q2. Its up 0.01, from 0.74 in 2016Q1. The ratio improved, as 72 funds sold all Deere & Company shares owned while 343 reduced positions. 62 funds bought stakes while 245 increased positions. They now own 219.87 million shares or 3.12% less from 226.95 million shares in 2016Q1.
Wellington Shields Mngmt Limited Liability Company has invested 0.1% of its portfolio in Deere & Company (NYSE:DE). Moreover, Cornerstone has 0.1% invested in Deere & Company (NYSE:DE) for 1,196 shares. Dekabank Deutsche Girozentrale, a Germany-based fund reported 22,154 shares. Bartlett Co Ltd Liability Co accumulated 0.07% or 18,718 shares. Eqis Mgmt has 0.03% invested in the company for 5,493 shares. The California-based Van Strum And Towne Inc has invested 0.85% in Deere & Company (NYSE:DE). Daiwa Gru Inc has invested 0.02% of its portfolio in Deere & Company (NYSE:DE). Gulf Bancorp (Uk) Limited accumulated 80,046 shares or 0.11% of the stock. Tdam Usa Inc owns 16,505 shares or 0.07% of their US portfolio. Principal owns 410,213 shares or 0.05% of their US portfolio. Next Fincl Grp Incorporated, a Texas-based fund reported 9,027 shares. Fiduciary accumulated 0.04% or 15,095 shares. The Oregon-based Peregrine Asset Advisers has invested 3.02% in Deere & Company (NYSE:DE). Fayerweather Charles has 3,100 shares for 0.35% of their US portfolio. Signature Mgmt has invested 0.1% of its portfolio in Deere & Company (NYSE:DE).

Insider Transactions: Since August 12, 2016, the stock had 0 insider buys, and 1 insider sale for $6.59 million net activity. The insider CASCADE INVESTMENT – L.L.C. sold $6.59 million.

More important recent Deere & Company (NYSE:DE) news were published by: Nasdaq.com which released: “The Best Options Trade for Deere & Co. (DE) Earnings” on November 21, 2016, also Fool.com published article titled: “Why It’s Not Time to Buy Deere & Company Stock”, Nasdaq.com published: “Deere & Co. reports earnings November 23” on November 19, 2016. More interesting news about Deere & Company (NYSE:DE) was released by: Desmoinesregister.com and their article: “Kinze fights Deere, feds to block release of company secrets” with publication date: November 11, 2016.

DE Company Profile

Deere & Company, incorporated on April 25, 1958, is engaged in equipment activities and financial services. The Firm operates through three business divisions: agriculture and turf, construction and forestry, and financial services. The Company’s agriculture and turf segment primarily makes and distributes a range of agriculture and turf equipment and related service parts, including large, medium and utility tractors; loaders; combines, corn pickers, cotton and sugarcane harvesters, and related front-end equipment and sugarcane loaders; tillage, seeding and application equipment, including sprayers, nutrient management and soil preparation machinery; hay and forage equipment, including self-propelled forage harvesters and attachments, balers and mowers; turf and utility equipment, including riding lawn equipment and walk-behind mowers, golf course equipment, utility vehicles and commercial mowing equipment, along with a line of associated implements, and integrated agricultural management systems.

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