Deere & Company (DE) Issues Earnings Results, Beats Expectations By $0.15 EPS
Deere & Company (NYSE:DE) announced its quarterly earnings results on Friday. The industrial products company reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.15, Bloomberg Earnings reports. Deere & Company had a return on equity of 26.31% and a net margin of 7.22%. The company had revenue of $5.97 billion during the quarter, compared to analyst estimates of $6.41 billion. During the same quarter last year, the firm posted $0.61 earnings per share. The firm’s revenue was up 27.2% on a year-over-year basis.
Shares of Deere & Company (NYSE DE) traded up $2.63 during trading hours on Friday, hitting $169.44. The stock had a trading volume of 6,619,801 shares, compared to its average volume of 2,530,000. Deere & Company has a 1 year low of $106.72 and a 1 year high of $175.26. The company has a debt-to-equity ratio of 2.71, a current ratio of 2.12 and a quick ratio of 1.95. The company has a market capitalization of $54,770.00, a P/E ratio of 25.37, a PEG ratio of 2.50 and a beta of 0.75.
The business also recently declared a quarterly dividend, which was paid on Thursday, February 1st. Stockholders of record on Friday, December 29th were issued a dividend of $0.60 per share. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $2.40 annualized dividend and a dividend yield of 1.42%. Deere & Company’s payout ratio is presently 35.93%.
In other news, CFO Rajesh Kalathur sold 4,519 shares of the firm’s stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $148.92, for a total transaction of $672,969.48. Following the completion of the transaction, the chief financial officer now directly owns 36,288 shares in the company, valued at $5,404,008.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Mary K.W. Jones sold 34,136 shares of the firm’s stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $124.72, for a total value of $4,257,441.92. The disclosure for this sale can be found here. Insiders have sold 187,603 shares of company stock valued at $28,058,143 over the last 90 days. Corporate insiders own 0.74% of the company’s stock.
Large investors have recently modified their holdings of the company. Capital International Investors increased its holdings in Deere & Company by 35.4% in the 3rd quarter. Capital International Investors now owns 8,807,474 shares of the industrial products company’s stock worth $1,106,131,000 after buying an additional 2,300,531 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Deere & Company by 21.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 3,621,764 shares of the industrial products company’s stock worth $454,857,000 after buying an additional 634,001 shares in the last quarter. Lazard Asset Management LLC increased its holdings in Deere & Company by 11.4% in the 4th quarter. Lazard Asset Management LLC now owns 2,740,365 shares of the industrial products company’s stock worth $428,894,000 after buying an additional 280,750 shares in the last quarter. Janus Henderson Group PLC increased its holdings in Deere & Company by 128.2% in the 3rd quarter. Janus Henderson Group PLC now owns 2,587,339 shares of the industrial products company’s stock worth $324,942,000 after buying an additional 1,453,754 shares in the last quarter. Finally, Legal & General Group Plc increased its holdings in Deere & Company by 2.3% in the 3rd quarter. Legal & General Group Plc now owns 1,660,073 shares of the industrial products company’s stock worth $208,473,000 after buying an additional 36,865 shares in the last quarter. Hedge funds and other institutional investors own 66.84% of the company’s stock.
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About Deere & Company
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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