Deere & Co. (NYSE:DE)’s share price rose 11% during trading on Thursday following a better than expected earnings announcement. The company traded as high as $102.50 and last traded at $102.17, with a volume of 20,499,126 shares trading hands. The stock had previously closed at $92.01.

The company reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.50. Deere & Co. had a net margin of 5.92% and a return on equity of 22.73%. The business earned $6.52 billion during the quarter. During the same period last year, the firm posted $1.08 EPS. The company’s revenue for the quarter was down 4.8% on a year-over-year basis.

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 1st. Shareholders of record on Friday, September 30th were given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date was Wednesday, September 28th. Deere & Co.’s dividend payout ratio (DPR) is presently 48.10%.

DE has been the subject of a number of research analyst reports. Robert W. Baird raised shares of Deere & Co. from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $86.00 to $100.00 in a research report on Monday, October 31st. Piper Jaffray Cos. boosted their price objective on shares of Deere & Co. from $67.00 to $70.00 and gave the company an “underweight” rating in a research report on Monday, August 22nd. Mizuho downgraded shares of Deere & Co. from a “buy” rating to a “neutral” rating in a research report on Wednesday, November 9th. Zacks Investment Research downgraded shares of Deere & Co. from a “buy” rating to a “hold” rating in a research report on Tuesday, October 25th. Finally, Argus boosted their price objective on shares of Deere & Co. from $90.00 to $98.00 and gave the company a “buy” rating in a research report on Tuesday, August 23rd. Eight research analysts have rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $84.60.

In related news, insider John C. May II sold 18,614 shares of the company’s stock in a transaction dated Wednesday, November 23rd. The shares were sold at an average price of $96.46, for a total transaction of $1,795,506.44. Following the transaction, the insider now directly owns 28,926 shares in the company, valued at approximately $2,790,201.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.75% of the company’s stock.

A number of institutional investors have recently modified their holdings of DE. Hartford Financial Management Inc. increased its position in shares of Deere & Co. by 5.2% in the third quarter. Hartford Financial Management Inc. now owns 1,210 shares of the company’s stock worth $103,000 after buying an additional 60 shares in the last quarter. Jolley Asset Management LLC increased its position in shares of Deere & Co. by 14.0% in the third quarter. Jolley Asset Management LLC now owns 1,225 shares of the company’s stock worth $105,000 after buying an additional 150 shares in the last quarter. CWM LLC increased its position in shares of Deere & Co. by 94.6% in the third quarter. CWM LLC now owns 1,234 shares of the company’s stock worth $105,000 after buying an additional 600 shares in the last quarter. Washington Trust Bank increased its position in shares of Deere & Co. by 59.0% in the second quarter. Washington Trust Bank now owns 1,240 shares of the company’s stock worth $100,000 after buying an additional 460 shares in the last quarter. Finally, Cornerstone Advisors Inc. increased its position in shares of Deere & Co. by 6.0% in the third quarter. Cornerstone Advisors Inc. now owns 1,268 shares of the company’s stock worth $108,000 after buying an additional 72 shares in the last quarter. Institutional investors and hedge funds own 70.14% of the company’s stock.

The company has a market cap of $32.12 billion, a price-to-earnings ratio of 20.47 and a beta of 0.71. The company has a 50-day moving average price of $88.69 and a 200 day moving average price of $84.01.

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Deere & Co. Company Profile

Deere & Company is engaged in equipment operations and financial services. The Company operates through three business segments: agriculture and turf, construction and forestry, and financial services. The Company’s agriculture and turf segment primarily manufactures and distributes a full line of agriculture and turf equipment and related service parts.

5 Day Chart for NYSE:DE

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