Deere & Company (NYSE:DE) Announces Earnings Results

Deere & Company (NYSE:DE) released its quarterly earnings results on Thursday. The industrial products company reported $3.19 earnings per share for the quarter, topping analysts’ consensus estimates of $3.14 by $0.05, Zacks reports. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%.

Deere & Company Stock Performance

Shares of Deere & Company stock traded up $11.71 during trading hours on Friday, hitting $477.93. 615,281 shares of the company’s stock traded hands, compared to its average volume of 1,376,592. Deere & Company has a 12-month low of $340.20 and a 12-month high of $485.84. The stock has a market capitalization of $130.16 billion, a price-to-earnings ratio of 18.69, a PEG ratio of 2.87 and a beta of 0.98. The company has a fifty day simple moving average of $446.23 and a 200-day simple moving average of $415.49. The company has a debt-to-equity ratio of 1.89, a current ratio of 2.09 and a quick ratio of 1.90.

Deere & Company Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 10th. Investors of record on Tuesday, December 31st were given a $1.62 dividend. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. This represents a $6.48 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date of this dividend was Tuesday, December 31st. Deere & Company’s dividend payout ratio is presently 25.31%.

Analyst Ratings Changes

DE has been the subject of several recent analyst reports. Citigroup cut their price objective on Deere & Company from $470.00 to $430.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. JPMorgan Chase & Co. boosted their target price on shares of Deere & Company from $470.00 to $500.00 and gave the company a “neutral” rating in a research report on Monday. Jefferies Financial Group cut shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 target price for the company. in a research report on Friday, December 6th. Barclays upped their price objective on shares of Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Finally, UBS Group increased their price target on Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Eleven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $445.94.

Deere & Company Company Profile

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.