Deere & Company (DE) Plans $0.60 Quarterly Dividend
Deere & Company (NYSE:DE) declared a quarterly dividend on Wednesday, August 30th, RTT News reports. Shareholders of record on Friday, September 29th will be given a dividend of 0.60 per share by the industrial products company on Wednesday, November 1st. This represents a $2.40 dividend on an annualized basis and a yield of 2.07%.
Deere & has raised its dividend by an average of 6.4% per year over the last three years. Deere & has a dividend payout ratio of 37.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect Deere & to earn $6.91 per share next year, which means the company should continue to be able to cover its $2.40 annual dividend with an expected future payout ratio of 34.7%.
Deere & (NYSE DE) traded down 0.42% during trading on Wednesday, reaching $115.40. The company’s stock had a trading volume of 248,347 shares. The stock’s 50-day moving average is $125.70 and its 200 day moving average is $117.56. Deere & has a 52-week low of $80.35 and a 52-week high of $132.50. The firm has a market capitalization of $37.02 billion, a price-to-earnings ratio of 19.17 and a beta of 0.67.
Deere & (NYSE:DE) last released its earnings results on Friday, August 18th. The industrial products company reported $1.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.93 by $0.04. Deere & had a return on equity of 25.96% and a net margin of 6.81%. The business had revenue of $6.83 billion for the quarter, compared to analyst estimates of $6.92 billion. During the same quarter in the prior year, the company posted $1.55 earnings per share. Deere &’s revenue was up 16.6% on a year-over-year basis. On average, analysts predict that Deere & will post $6.52 EPS for the current fiscal year.
In related news, insider Pentz Markwart Von sold 46,457 shares of the stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $116.74, for a total transaction of $5,423,390.18. Following the sale, the insider now owns 47,165 shares of the company’s stock, valued at $5,506,042.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Cory J. Reed sold 4,936 shares of the stock in a transaction that occurred on Friday, June 16th. The stock was sold at an average price of $128.00, for a total value of $631,808.00. Following the sale, the insider now directly owns 9,903 shares in the company, valued at approximately $1,267,584. The disclosure for this sale can be found here. Insiders have sold 159,380 shares of company stock worth $19,694,934 in the last three months. 0.75% of the stock is currently owned by company insiders.
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Several analysts recently issued reports on DE shares. TheStreet upgraded Deere & from a “c+” rating to an “a-” rating in a report on Friday, May 19th. Citigroup Inc. upped their price objective on Deere & from $125.00 to $145.00 and gave the company a “buy” rating in a research note on Tuesday, May 23rd. Stifel Nicolaus upped their price objective on Deere & from $126.00 to $135.00 and gave the company a “buy” rating in a research note on Monday, May 22nd. Credit Suisse Group set a $132.00 price objective on Deere & and gave the company a “buy” rating in a research note on Saturday, May 20th. Finally, Bank of America Corporation upped their price objective on Deere & from $130.00 to $145.00 and gave the company a “buy” rating in a research note on Wednesday, May 24th. Three equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and nine have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $127.58.
Deere & Company Profile
Deere & Company is engaged in equipment operations. The Company is engaged in providing financial services. The Company operates through three business segments: agriculture and turf, construction and forestry, and financial services. The agriculture and turf segment manufactures and distributes a line of agriculture and turf equipment and related service parts.
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