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

Deere & Company (NYSE:DE) declared a quarterly dividend on Wednesday, August 28th, RTT News reports. Investors 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 yield of 1.41%. The ex-dividend date of this dividend is Monday, September 30th.

Deere & Company has raised 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% meaning 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 Stock Performance

DE opened at $418.00 on Friday. The company has a market capitalization of $115.19 billion, a price-to-earnings ratio of 12.58, a P/E/G ratio of 1.36 and a beta of 0.92. The business’s 50-day moving average price is $379.51 and its two-hundred day moving average price is $384.12. Deere & Company has a 1 year low of $340.20 and a 1 year 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 announced its earnings results 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. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The business had revenue of $11.39 billion for the quarter, compared to analyst estimates of $10.94 billion. During the same quarter last year, the firm earned $10.20 EPS. Deere & Company’s revenue for the quarter was down 20.3% compared to the same quarter last year. Equities analysts expect that Deere & Company will post 25.03 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on DE. Bank of America boosted their price objective on shares of Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a research report on Friday, August 16th. JPMorgan Chase & Co. reduced their price objective 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. Truist Financial reaffirmed a “buy” rating and issued a $443.00 target price (up previously from $439.00) on shares of Deere & Company in a research report on Friday, August 16th. Oppenheimer reduced their price target on Deere & Company from $465.00 to $448.00 and set an “outperform” rating for the company in a research report on Monday, July 22nd. Finally, BMO Capital Markets initiated coverage on Deere & Company in a research note on Friday, August 9th. They issued a “market perform” rating and a $400.00 price target for the company. Thirteen research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $410.50.

Deere & Company Company Profile

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.