Deere & Company (DE) to Issue Quarterly Dividend of $1.13 on August 8th

Deere & Company (NYSE:DEGet Rating) declared a quarterly dividend on Thursday, May 26th, Wall Street Journal reports. Investors of record on Thursday, June 30th will be given a dividend of 1.13 per share by the industrial products company on Monday, August 8th. This represents a $4.52 annualized dividend and a dividend yield of 1.25%. The ex-dividend date of this dividend is Wednesday, June 29th. This is a boost from Deere & Company’s previous quarterly dividend of $1.05.

Deere & Company has increased its dividend by an average of 12.5% annually over the last three years and has raised its dividend every year for the last 1 years. Deere & Company has a dividend payout ratio of 16.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Deere & Company to earn $26.82 per share next year, which means the company should continue to be able to cover its $4.20 annual dividend with an expected future payout ratio of 15.7%.

NYSE:DE opened at $360.73 on Friday. Deere & Company has a one year low of $307.64 and a one year high of $446.76. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.94 and a current ratio of 2.25. The firm has a market cap of $110.67 billion, a price-to-earnings ratio of 20.00, a PEG ratio of 1.19 and a beta of 1.02. The firm’s fifty day moving average is $395.78 and its two-hundred day moving average is $376.80.

Deere & Company (NYSE:DEGet Rating) last posted its quarterly earnings results on Friday, May 20th. The industrial products company reported $6.81 EPS for the quarter, beating the consensus estimate of $6.71 by $0.10. Deere & Company had a net margin of 12.69% and a return on equity of 33.65%. The company had revenue of $12.03 billion for the quarter, compared to analyst estimates of $13.16 billion. During the same period in the prior year, the company earned $5.68 earnings per share. The firm’s revenue was up 9.4% on a year-over-year basis. As a group, equities research analysts predict that Deere & Company will post 22.69 earnings per share for the current fiscal year.

DE has been the topic of several recent analyst reports. Robert W. Baird lowered their target price on shares of Deere & Company from $487.00 to $442.00 and set an “outperform” rating on the stock in a research note on Sunday, May 22nd. Bank of America downgraded shares of Deere & Company from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $475.00 to $450.00 in a research report on Monday, April 25th. The Goldman Sachs Group reduced their price target on shares of Deere & Company from $480.00 to $420.00 and set a “buy” rating for the company in a research report on Monday, May 23rd. JPMorgan Chase & Co. upgraded shares of Deere & Company from an “underweight” rating to a “neutral” rating and upped their price target for the stock from $355.00 to $440.00 in a research report on Monday, March 28th. Finally, Morgan Stanley cut their price objective on shares of Deere & Company from $485.00 to $452.00 and set an “overweight” rating for the company in a report on Monday, May 23rd. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, Deere & Company currently has a consensus rating of “Buy” and a consensus price target of $432.13.

In other Deere & Company news, insider Pentz Markwart Von sold 18,364 shares of the firm’s stock in a transaction that occurred on Monday, March 14th. The shares were sold at an average price of $393.00, for a total value of $7,217,052.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Rajesh Kalathur sold 32,391 shares of the firm’s stock in a transaction that occurred on Monday, March 7th. The shares were sold at an average price of $400.00, for a total transaction of $12,956,400.00. The disclosure for this sale can be found here. Company insiders own 0.24% of the company’s stock.

A number of hedge funds have recently modified their holdings of the business. Flagship Harbor Advisors LLC lifted its position in shares of Deere & Company by 2.4% during the 4th quarter. Flagship Harbor Advisors LLC now owns 1,125 shares of the industrial products company’s stock worth $386,000 after purchasing an additional 26 shares during the last quarter. Mather Group LLC. lifted its position in shares of Deere & Company by 5.7% during the 1st quarter. Mather Group LLC. now owns 998 shares of the industrial products company’s stock worth $415,000 after purchasing an additional 54 shares during the last quarter. Linscomb & Williams Inc. lifted its position in shares of Deere & Company by 5.7% during the 1st quarter. Linscomb & Williams Inc. now owns 1,081 shares of the industrial products company’s stock worth $449,000 after purchasing an additional 58 shares during the last quarter. Proficio Capital Partners LLC lifted its position in shares of Deere & Company by 7.4% during the 1st quarter. Proficio Capital Partners LLC now owns 910 shares of the industrial products company’s stock worth $378,000 after purchasing an additional 63 shares during the last quarter. Finally, Worth Asset Management LLC acquired a new stake in Deere & Company during the 1st quarter worth $28,000. 67.35% of the stock is owned by institutional investors.

About Deere & Company (Get Rating)

Deere & Company manufactures and distributes various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides mid-size tractors, combines, cotton pickers and strippers, sugarcane harvesters, harvesting front-end equipment, sugarcane loaders, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.

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Dividend History for Deere & Company (NYSE:DE)

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