Today’s Price Action: Will Deere & Company Run Out of Steam Soon?

Today's Price Action: Will Deere & Company Run Out of Steam Soon?

The stock of Deere & Company (NYSE:DE) reached all time high today, Nov, 23 and still has $110.02 target or 9.00% above today’s $100.94 share price. This indicates more upside for the $31.64B company. This technical setup was reported by Barchart.com. If the $110.02 PT is reached, the company will be worth $2.85 billion more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 7.65M shares traded hands or 202.37% up from the average. Deere & Company (NYSE:DE) has risen 11.12% since April 21, 2016 and is uptrending. It has outperformed by 5.79% 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. Deere & Company has been the topic of 52 analyst reports since July 27, 2015 according to StockzIntelligence Inc. BMO Capital Markets maintained the stock with “Market Perform” rating in Monday, August 24 report. The rating was upgraded by UBS to “Neutral” on Monday, January 4. Citigroup maintained Deere & Company (NYSE:DE) on Monday, August 24 with “Buy” rating. UBS maintained it with “Sell” rating and $73.0 target price in Monday, August 24 report. Deutsche Bank maintained the stock with “Buy” rating in Monday, November 16 report. The stock of Deere & Company (NYSE:DE) earned “Buy” rating by Deutsche Bank on Wednesday, November 18. On Tuesday, October 13 the stock rating was maintained by BMO Capital Markets with “Market Perform”. The firm earned “Strong Sell” rating on Friday, September 25 by S&P Research. Deutsche Bank initiated it with “Hold” rating and $90 target price in Wednesday, September 7 report. The firm has “Underweight” rating by Piper Jaffray given on Monday, August 22.

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.
Headinvest Limited Liability Corporation last reported 0.08% of its portfolio in the stock. Moreover, Aviva Public Ltd Com has 0.1% invested in Deere & Company (NYSE:DE) for 185,332 shares. Bollard Group Incorporated Limited Liability Company accumulated 31,558 shares or 0.17% of the stock. Canandaigua National Bank And has 0.37% invested in the company for 15,839 shares. Busey Tru Company reported 8,561 shares or 0.09% of all its holdings. Cibc Asset Mngmt last reported 36,361 shares in the company. Pitcairn Co accumulated 6,275 shares or 0.07% of the stock. Summit Wealth Ltd reported 9,870 shares or 0.33% of all its holdings. Princeton Cap Management Inc holds 0.83% of its portfolio in Deere & Company (NYSE:DE) for 14,800 shares. Great West Life Assurance Communications Can last reported 0.05% of its portfolio in the stock. Duncker Streett & last reported 5,456 shares in the company. Natl Planning Corp last reported 5,003 shares in the company. The Delaware-based Blackrock Ltd Llc has invested 0.01% in Deere & Company (NYSE:DE). Innovations Ltd Liability Corporation has 5,295 shares for 1.25% of their US portfolio. Archford Capital Strategies Ltd Llc owns 375 shares or 0.02% of their US portfolio.

Insider Transactions: Since August 12, 2016, the stock had 0 buys, and 1 insider sale for $6.59 million net activity. 85,000 shares were sold by CASCADE INVESTMENT – L.L.C., worth $6.59M.

More recent Deere & Company (NYSE:DE) news were published by: Wsj.com which released: “Deere & Co. Earnings: What to Watch” on November 22, 2016. Also Nasdaq.com published the news titled: “The Best Options Trade for Deere & Co. (DE) Earnings” on November 21, 2016. Nasdaq.com‘s news article titled: “Deere & Co. reports earnings November 23” with publication date: November 19, 2016 was also an interesting one.

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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