Deere & Company (NYSE:DE) declared a quarterly dividend on Wednesday, May 29th, RTT News reports. Investors of record on Friday, June 28th will be given a dividend of 0.76 per share by the industrial products company on Thursday, August 1st. This represents a $3.04 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date of this dividend is Thursday, June 27th.

Deere & Company has increased its dividend by an average of 2.4% per year over the last three years. Deere & Company has a payout ratio of 32.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Deere & Company to earn $11.79 per share next year, which means the company should continue to be able to cover its $3.04 annual dividend with an expected future payout ratio of 25.8%.

Deere & Company stock opened at $166.31 on Wednesday. The firm has a 50-day simple moving average of $148.35. The company has a debt-to-equity ratio of 2.37, a current ratio of 1.94 and a quick ratio of 1.66. Deere & Company has a 12-month low of $128.32 and a 12-month high of $169.99. The company has a market capitalization of $52.90 billion, a PE ratio of 17.71, a price-to-earnings-growth ratio of 1.58 and a beta of 1.02.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Friday, May 17th. The industrial products company reported $3.52 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $3.57 by ($0.05). Deere & Company had a net margin of 8.52% and a return on equity of 28.76%. The business had revenue of $10.27 billion during the quarter, compared to the consensus estimate of $10.19 billion. During the same period in the prior year, the firm earned $3.14 earnings per share. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. Equities analysts predict that Deere & Company will post 10.25 EPS for the current fiscal year.

A number of research analysts recently issued reports on the company. Jefferies Financial Group raised Deere & Company from a “hold” rating to a “buy” rating and lifted their price target for the company from $150.00 to $190.00 in a report on Monday. Morgan Stanley boosted their price objective on Deere & Company from $158.00 to $172.00 and gave the stock an “overweight” rating in a report on Friday, June 21st. Robert W. Baird raised Deere & Company from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $129.00 to $175.00 in a report on Sunday, June 16th. BMO Capital Markets reissued an “outperform” rating and set a $175.00 price objective (down from $195.00) on shares of Deere & Company in a report on Monday, May 27th. Finally, UBS Group dropped their price objective on Deere & Company from $177.00 to $158.00 and set a “buy” rating for the company in a report on Thursday, May 23rd. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and fourteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $167.17.

In other news, COO John C. May II sold 16,468 shares of the business’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $163.21, for a total transaction of $2,687,742.28. Following the completion of the transaction, the chief operating officer now directly owns 60,550 shares in the company, valued at approximately $9,882,365.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.71% of the stock is currently owned by insiders.

About Deere & Company

Deere & Company manufactures and distributes various equipment worldwide. The company operates through three segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment offers agriculture and turf equipment, and related parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; and tillage, seeding, and application equipment.

Further Reading: Forex

Dividend History for Deere & Company (NYSE:DE)

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