Deere & Company (NYSE:DE) Declares Quarterly Dividend of $1.62

Deere & Company (NYSE:DE) declared a quarterly dividend on Wednesday, August 26th. Shareholders of record on Wednesday, September 30th will be given a dividend of 1.62 per share by the industrial products company on Monday, November 9th. This represents a c) annualized dividend and a yield of 1.0%. The ex-dividend date is Wednesday, September 30th.

Deere & Company has raised its dividend payment by an average of 0.2%per year over the last three years and has increased its dividend annually for the last 4 consecutive years. Deere & Company has a payout ratio of 29.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Deere & Company to earn $22.68 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 28.6%.

Deere & Company Stock Performance

Shares of DE stock opened at $633.36 on Thursday. The business’s fifty day simple moving average is $610.13 and its 200-day simple moving average is $592.80. The company has a market cap of $170.97 billion, a PE ratio of 35.19, a PEG ratio of 2.60 and a beta of 0.90. The company has a current ratio of 2.10, a quick ratio of 1.89 and a debt-to-equity ratio of 1.45. Deere & Company has a 12-month low of $433.00 and a 12-month high of $674.19.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, August 20th. The industrial products company reported $5.10 earnings per share for the quarter, topping analysts’ consensus estimates of $4.69 by $0.41. Deere & Company had a return on equity of 18.10% and a net margin of 10.16%.The firm had revenue of $12.61 billion during the quarter, compared to analysts’ expectations of $10.81 billion. During the same quarter last year, the firm earned $4.75 EPS. The business’s quarterly revenue was up 6.2% on a year-over-year basis. Analysts expect that Deere & Company will post 18.09 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have commented on DE. UBS Group decreased their price target on Deere & Company from $732.00 to $728.00 and set a “buy” rating for the company in a research note on Friday, August 21st. Truist Financial dropped their price target on Deere & Company from $812.00 to $804.00 and set a “buy” rating on the stock in a research note on Monday. Oppenheimer upped their price objective on shares of Deere & Company from $680.00 to $685.00 and gave the company an “outperform” rating in a report on Thursday, August 20th. JPMorgan Chase & Co. increased their price objective on shares of Deere & Company from $570.00 to $585.00 and gave the company a “neutral” rating in a research report on Friday, August 21st. Finally, Bank of America lowered their target price on shares of Deere & Company from $672.00 to $607.50 and set a “neutral” rating for the company in a research note on Friday, May 22nd. Fourteen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $653.48.

Deere & Company Company Profile

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.