Deere & Company (DE) to Issue Quarterly Dividend of $1.47 on May 8th

Deere & Company (NYSE:DE) declared a quarterly dividend on Wednesday, February 28th, RTT News reports. Investors of record on Friday, March 29th will be paid a dividend of 1.47 per share by the industrial products company on Wednesday, May 8th. This represents a $5.88 annualized dividend and a yield of 1.47%. The ex-dividend date is Wednesday, March 27th.

Deere & Company has increased its dividend by an average of 20.5% per year over the last three years and has increased its dividend annually for the last 3 consecutive years. Deere & Company has a dividend payout ratio of 21.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Deere & Company to earn $27.03 per share next year, which means the company should continue to be able to cover its $5.88 annual dividend with an expected future payout ratio of 21.8%.

Deere & Company Trading Up 0.3 %

Deere & Company stock opened at $398.86 on Monday. The firm has a market cap of $111.03 billion, a PE ratio of 11.62, a P/E/G ratio of 1.50 and a beta of 1.03. Deere & Company has a 12 month low of $345.55 and a 12 month high of $450.00. The stock’s 50 day simple moving average is $379.33 and its two-hundred day simple moving average is $381.43. The company has a current ratio of 2.05, a quick ratio of 1.81 and a debt-to-equity ratio of 1.81.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, February 15th. The industrial products company reported $6.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.19 by $1.04. The firm had revenue of $10.49 billion during the quarter, compared to analysts’ expectations of $10.30 billion. Deere & Company had a net margin of 16.38% and a return on equity of 44.60%. The business’s revenue was down 8.0% compared to the same quarter last year. During the same period in the previous year, the business posted $6.55 EPS. Analysts anticipate that Deere & Company will post 27.41 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on DE shares. JPMorgan Chase & Co. raised their target price on Deere & Company from $380.00 to $385.00 and gave the company a “neutral” rating in a research report on Monday, December 4th. Evercore ISI raised their price objective on Deere & Company from $381.00 to $387.00 and gave the company an “in-line” rating in a report on Tuesday, February 20th. Truist Financial began coverage on Deere & Company in a research note on Thursday, March 14th. They set a “buy” rating and a $494.00 target price for the company. Wells Fargo & Company dropped their price target on shares of Deere & Company from $445.00 to $425.00 and set an “overweight” rating on the stock in a research note on Friday, February 16th. Finally, Citigroup cut their price target on shares of Deere & Company from $450.00 to $435.00 and set a “buy” rating for the company in a report on Friday, February 16th. Ten analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $431.69.

Institutional Trading of Deere & Company

Large investors have recently modified their holdings of the stock. RB Capital Management LLC grew its position in shares of Deere & Company by 5.2% during the first quarter. RB Capital Management LLC now owns 1,637 shares of the industrial products company’s stock worth $680,000 after buying an additional 81 shares in the last quarter. Bornite Capital Management LP purchased a new stake in Deere & Company during the first quarter worth approximately $14,541,000. Retirement Income Solutions Inc purchased a new stake in shares of Deere & Company during the 1st quarter worth approximately $229,000. Sequoia Financial Advisors LLC grew its position in shares of Deere & Company by 27.1% in the 1st quarter. Sequoia Financial Advisors LLC now owns 2,442 shares of the industrial products company’s stock valued at $1,014,000 after buying an additional 521 shares during the last quarter. Finally, Baird Financial Group Inc. raised its stake in Deere & Company by 32.4% during the 1st quarter. Baird Financial Group Inc. now owns 114,322 shares of the industrial products company’s stock worth $47,496,000 after acquiring an additional 27,985 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

About Deere & Company

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.