Deere & Company (NYSE:DE) Declares $1.47 Quarterly Dividend

Deere & Company (NYSE:DE) declared a quarterly dividend on Wednesday, August 28th, RTT News reports. Investors of record on Monday, September 30th will be paid a dividend of 1.47 per share by the industrial products company on Friday, November 8th. This represents a $5.88 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date of this dividend is Monday, September 30th.

Deere & Company has raised its dividend by an average of 20.5% annually over the last three years. Deere & Company has a payout ratio of 26.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Deere & Company to earn $22.44 per share next year, which means the company should continue to be able to cover its $5.88 annual dividend with an expected future payout ratio of 26.2%.

Deere & Company Price Performance

DE stock opened at $418.00 on Friday. Deere & Company has a one year low of $340.20 and a one year high of $419.63. The firm has a 50-day moving average of $379.51 and a two-hundred day moving average of $384.12. The firm has a market capitalization of $115.19 billion, a PE ratio of 12.58, a P/E/G ratio of 1.36 and a beta of 0.92. The company has a current ratio of 2.07, a quick ratio of 1.87 and a debt-to-equity ratio of 1.85.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, topping the consensus estimate of $5.63 by $0.66. The firm had revenue of $11.39 billion for the quarter, compared to analysts’ expectations of $10.94 billion. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The company’s quarterly revenue was down 20.3% compared to the same quarter last year. During the same period in the previous year, the company posted $10.20 EPS. On average, analysts forecast that Deere & Company will post 25.03 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a research note on Thursday, August 8th. Evercore ISI boosted their target price on Deere & Company from $371.00 to $378.00 and gave the company an “in-line” rating in a research note on Monday, August 19th. HSBC downgraded Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, August 19th. Bank of America boosted their price target on Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a research note on Friday, August 16th. Finally, Hsbc Global Res lowered shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 19th. Thirteen analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $410.50.

Deere & Company Company Profile

Deere & Company engages in the manufacture and distribution of 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 large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, 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.