Deere & Company (NYSE:DE - Get Free Report) declared a quarterly dividend on Wednesday, May 28th, RTT News reports. Investors of record on Monday, June 30th will be given a dividend of 1.62 per share by the industrial products company on Friday, August 8th. This represents a $6.48 dividend on an annualized basis and a yield of 1.27%.
Deere & Company has increased its dividend payment by an average of 15.6% annually over the last three years and has raised its dividend annually for the last 4 consecutive years. Deere & Company has a dividend payout ratio of 29.3% meaning its dividend is sufficiently covered by earnings. Analysts expect Deere & Company to earn $22.03 per share next year, which means the company should continue to be able to cover its $6.48 annual dividend with an expected future payout ratio of 29.4%.
Deere & Company Price Performance
Shares of NYSE:DE traded down $0.96 during trading on Wednesday, hitting $508.67. 273,195 shares of the stock were exchanged, compared to its average volume of 1,404,194. The company has a current ratio of 2.22, a quick ratio of 1.98 and a debt-to-equity ratio of 1.94. Deere & Company has a 12-month low of $340.20 and a 12-month high of $533.78. The company has a market cap of $138.06 billion, a PE ratio of 22.54, a P/E/G ratio of 2.14 and a beta of 1.08. The company has a fifty day moving average price of $473.84 and a two-hundred day moving average price of $460.21.
Deere & Company (NYSE:DE - Get Free Report) last released its quarterly earnings data on Thursday, May 15th. The industrial products company reported $6.64 EPS for the quarter, topping analysts' consensus estimates of $5.72 by $0.92. The business had revenue of $11.17 billion during the quarter, compared to the consensus estimate of $10.80 billion. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. The business's revenue for the quarter was down 17.9% on a year-over-year basis. During the same period in the prior year, the firm posted $8.53 EPS. On average, analysts forecast that Deere & Company will post 19.32 EPS for the current year.
Wall Street Analyst Weigh In
DE has been the topic of several research analyst reports. Truist Financial lifted their price objective on shares of Deere & Company from $546.00 to $619.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. Raymond James upped their target price on shares of Deere & Company from $530.00 to $560.00 and gave the company an "outperform" rating in a research note on Friday, May 16th. Wall Street Zen raised shares of Deere & Company from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. The Goldman Sachs Group reiterated a "buy" rating on shares of Deere & Company in a research report on Thursday, May 15th. Finally, Robert W. Baird lifted their price target on shares of Deere & Company from $501.00 to $514.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. Thirteen equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $516.75.
Check Out Our Latest Analysis on DE
Hedge Funds Weigh In On Deere & Company
A hedge fund recently raised its stake in Deere & Company stock. Brighton Jones LLC grew its position in shares of Deere & Company (NYSE:DE - Free Report) by 39.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,548 shares of the industrial products company's stock after acquiring an additional 1,278 shares during the quarter. Brighton Jones LLC's holdings in Deere & Company were worth $1,927,000 as of its most recent filing with the SEC. Institutional investors and hedge funds own 68.58% of the company's stock.
About Deere & Company
(
Get Free Report)
Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.
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