Deere & Company (DE) To Go Ex-Dividend on June 28th

Deere & Company (NYSE:DE) announced a quarterly dividend on Wednesday, May 29th, RTT News reports. Investors of record on Friday, June 28th will be paid a dividend of 1.47 per share by the industrial products company on Thursday, August 8th. This represents a $5.88 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date of this dividend is Friday, June 28th.

Deere & Company has increased its dividend by an average of 20.5% per year over the last three years. Deere & Company has a payout ratio of 23.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Deere & Company to earn $24.99 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 23.5%.

Deere & Company Stock Performance

NYSE:DE opened at $369.46 on Wednesday. The company has a market cap of $101.81 billion, a price-to-earnings ratio of 11.12, a PEG ratio of 1.52 and a beta of 0.98. Deere & Company has a fifty-two week low of $353.15 and a fifty-two week high of $450.00. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.80 and a current ratio of 2.01. The stock has a fifty day moving average price of $386.75 and a 200-day moving average price of $387.08.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, May 16th. The industrial products company reported $8.53 earnings per share for the quarter, topping the consensus estimate of $7.86 by $0.67. Deere & Company had a net margin of 16.15% and a return on equity of 42.26%. The business had revenue of $13.61 billion during the quarter, compared to analysts’ expectations of $13.29 billion. During the same quarter in the prior year, the business posted $9.65 earnings per share. Deere & Company’s revenue was down 15.4% compared to the same quarter last year. As a group, equities analysts anticipate that Deere & Company will post 25.61 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Cory J. Reed sold 13,370 shares of the firm’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $377.63, for a total transaction of $5,048,913.10. Following the completion of the transaction, the insider now directly owns 41,642 shares of the company’s stock, valued at approximately $15,725,268.46. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.26% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Stifel Nicolaus lifted their price objective on shares of Deere & Company from $425.00 to $450.00 and gave the company a “buy” rating in a research note on Friday, May 17th. JPMorgan Chase & Co. lowered their price target on Deere & Company from $425.00 to $385.00 and set a “neutral” rating for the company in a report on Friday, May 17th. TD Cowen upped their price objective on Deere & Company from $383.00 to $390.00 and gave the stock a “hold” rating in a research report on Friday, May 17th. Daiwa Capital Markets lifted their target price on Deere & Company from $400.00 to $420.00 and gave the company an “overweight” rating in a research report on Wednesday, May 15th. Finally, Truist Financial initiated coverage on shares of Deere & Company in a report on Thursday, March 14th. They issued a “buy” rating and a $494.00 target price for the company. Eleven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Deere & Company currently has an average rating of “Hold” and a consensus price target of $431.14.

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.