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

Deere & Company (NYSE:DE) declared a quarterly dividend on Wednesday, August 28th, RTT News reports. Investors of record on Monday, September 30th will be given a dividend of 1.47 per share by the industrial products company on Friday, November 8th. This represents a $5.88 annualized dividend and a dividend yield of 1.41%. The ex-dividend date of this dividend is Monday, September 30th.

Deere & Company has increased its dividend payment by an average of 20.5% per year over the last three years. Deere & Company has a payout ratio of 26.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Deere & Company to earn $22.44 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 26.2%.

Deere & Company Trading Up 1.6 %

NYSE:DE opened at $418.06 on Friday. The business’s 50-day moving average is $379.51 and its two-hundred day moving average is $384.04. The firm has a market capitalization of $115.20 billion, a PE ratio of 12.58, a price-to-earnings-growth ratio of 1.36 and a beta of 0.92. Deere & Company has a 12 month low of $340.20 and a 12 month high of $419.63. The company has a debt-to-equity ratio of 1.85, a current ratio of 2.07 and a quick ratio of 1.87.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.63 by $0.66. The company had revenue of $11.39 billion for the quarter, compared to analyst estimates of $10.94 billion. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The business’s quarterly revenue was down 20.3% on a year-over-year basis. During the same quarter last year, the firm posted $10.20 earnings per share. Research analysts predict that Deere & Company will post 25.03 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on DE shares. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a research note on Thursday, August 8th. HSBC cut shares of Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, August 19th. Hsbc Global Res lowered Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, August 19th. Oppenheimer reduced their target price on Deere & Company from $465.00 to $448.00 and set an “outperform” rating on the stock in a report on Monday, July 22nd. Finally, Bank of America boosted their price target on Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a report on Friday, August 16th. Thirteen equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $410.50.

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.