Deere & Company (DE) Stock Faces Higher Risks Forward After Forming Multiple Bottom Chart Pattern

October 2, 2018 - By Peter Kolinski

Deere & Company (NYSE:DE) Logo

Investors sentiment increased to 0.97 in 2018 Q2. Its up 0.10, from 0.87 in 2018Q1. It increased, as 60 investors sold Deere & Company shares while 330 reduced holdings. 100 funds opened positions while 280 raised stakes. 207.23 million shares or 1.43% less from 210.24 million shares in 2018Q1 were reported.
Smithfield Tru Comm has invested 0.05% of its portfolio in Deere & Company (NYSE:DE). Los Angeles Capital Equity Rech stated it has 1,971 shares. The Netherlands-based Robeco Institutional Asset Mngmt Bv has invested 0.09% in Deere & Company (NYSE:DE). Natl Pension Service, a Korea-based fund reported 313,509 shares. Webster National Bank & Trust N A stated it has 12,658 shares. 19,366 are held by Old Mutual Customised Solutions (Proprietary) Ltd. Adage Capital Partners Grp Lc has 1.33% invested in Deere & Company (NYSE:DE) for 4.15M shares. First Personal Financial Svcs has 2.08% invested in Deere & Company (NYSE:DE). 16,711 were accumulated by Laffer Invests. Umb Bankshares N A Mo invested in 31,240 shares or 0.14% of the stock. Homrich And Berg holds 0.03% in Deere & Company (NYSE:DE) or 2,609 shares. Jpmorgan Chase Com holds 2.93M shares or 0.08% of its portfolio. Point72 Asset Mgmt Limited Partnership owns 50,000 shares. First Tru Advsr Lp owns 0.12% invested in Deere & Company (NYSE:DE) for 429,866 shares. Koshinski Asset Mngmt holds 13,427 shares.

The stock of Deere & Company (DE) shows a multiple bottoms pattern with $141.81 target or 6.00 % below today’s $150.86 share price. The 6 months chart pattern indicates high risk for the $48.53 billion company. It was reported on Oct, 2 by If the $141.81 price target is reached, the company will be worth $2.91 billion less.
Multiple bottoms are very good trading chart patterns. These patterns have a low break even failure rate and decent average rise in a bull market, giving them a solid performance rank. Back-tests of such patterns show that the break even failure rate is 4%, the average rise: 37%, the throwback rate: 64% and the percentage of stocks meeting their price targets: 64%.

The stock increased 0.35% or $0.53 during the last trading session, reaching $150.86. About 2.67 million shares traded or 10.53% up from the average. Deere & Company (NYSE:DE) has risen 26.03% since October 2, 2017 and is uptrending. It has outperformed by 10.41% the S&P500.

Analysts await Deere & Company (NYSE:DE) to report earnings on November, 28. They expect $2.43 EPS, up 54.78 % or $0.86 from last year’s $1.57 per share. DE’s profit will be $781.67M for 15.52 P/E if the $2.43 EPS becomes a reality. After $2.59 actual EPS reported by Deere & Company for the previous quarter, Wall Street now forecasts -6.18 % negative EPS growth.

Deere & Company (NYSE:DE) Ratings Coverage

Among 11 analysts covering Deere (NYSE:DE), 10 have Buy rating, 0 Sell and 1 Hold. Therefore 91% are positive. Deere has $221 highest and $155 lowest target. $180.10’s average target is 19.38% above currents $150.86 stock price. Deere had 13 analyst reports since April 13, 2018 according to SRatingsIntel. The company was maintained on Wednesday, September 5 by Deutsche Bank. The stock of Deere & Company (NYSE:DE) earned “Buy” rating by RBC Capital Markets on Tuesday, April 17. The firm earned “Outperform” rating on Monday, August 20 by Credit Suisse. Stifel Nicolaus maintained the shares of DE in report on Monday, August 20 with “Buy” rating. The firm has “Buy” rating by UBS given on Friday, July 20. The rating was maintained by Citigroup on Wednesday, June 20 with “Buy”. The rating was upgraded by UBS on Thursday, May 24 to “Buy”. Morgan Stanley maintained the shares of DE in report on Tuesday, June 5 with “Buy” rating. The company was maintained on Wednesday, June 27 by UBS. Bank of America upgraded Deere & Company (NYSE:DE) on Thursday, May 3 to “Buy” rating.

Another recent and important Deere & Company (NYSE:DE) news was published by which published an article titled: “First Session After Rate Hike Seems To Have Investors Mulling Fed Comments” on September 27, 2018.

Deere & Company, together with its subsidiaries, makes and distributes agriculture and turf, and construction and forestry equipment worldwide. The company has market cap of $48.53 billion. The companyÂ’s Agriculture and Turf segment provides agriculture and turf equipment, and related service parts, such as large, medium, and utility tractors; loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; related front-end harvesting equipment; sugarcane loaders and pull-behind scrapers; and tillage, seeding, and application equipment, including sprayers, nutrient management, and soil preparation machinery. It has a 23.61 P/E ratio. This segment also offers 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, as well as associated implements; integrated agricultural management systems technology and solutions; and other outdoor power products.

Deere & Company (NYSE:DE) Institutional Positions Chart

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