Deere & Company (NYSE:DE) Announces Quarterly Dividend of $1.47

Deere & Company (NYSE:DE) announced a quarterly dividend on Wednesday, August 28th, RTT News reports. Shareholders of record on Monday, September 30th will be paid a dividend of 1.47 per share by the industrial products company on Friday, November 8th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.54%.

Deere & Company has increased its dividend by an average of 20.5% per year over the last three years. Deere & Company has a payout ratio of 26.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Deere & Company to earn $24.17 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 24.3%.

Deere & Company Price Performance

Shares of DE traded up $3.44 during trading hours on Thursday, reaching $381.39. The stock had a trading volume of 261,405 shares, compared to its average volume of 1,524,559. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.80 and a current ratio of 2.01. Deere & Company has a 12 month low of $340.20 and a 12 month high of $423.35. The stock has a market capitalization of $105.10 billion, a PE ratio of 11.38, a PEG ratio of 1.59 and a beta of 0.93. The company’s 50-day moving average is $367.82 and its two-hundred day moving average is $379.83.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, topping the consensus estimate of $5.63 by $0.66. Deere & Company had a return on equity of 42.26% and a net margin of 16.15%. The company had revenue of $11.39 billion for the quarter, compared to analysts’ expectations of $10.94 billion. During the same period in the previous year, the business posted $10.20 earnings per share. The business’s quarterly revenue was down 20.3% compared to the same quarter last year. Research analysts expect that Deere & Company will post 25.41 EPS for the current year.

Insider Activity at Deere & Company

In related news, insider Cory J. Reed sold 13,370 shares of Deere & Company stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $377.63, for a total transaction of $5,048,913.10. Following the completion of the transaction, the insider now directly owns 41,642 shares of the company’s stock, valued at approximately $15,725,268.46. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.26% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

DE has been the subject of several recent research reports. Evercore ISI lifted their target price on shares of Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a research note 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. JPMorgan Chase & Co. cut their price target on shares of Deere & Company from $375.00 to $360.00 and set a “neutral” rating for the company in a research note on Tuesday, August 13th. DA Davidson cut their target price on shares of Deere & Company from $483.00 to $465.00 and set a “buy” rating for the company in a research report on Monday, May 20th. Finally, HSBC downgraded Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, August 19th. Fourteen investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $414.11.

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.