Deere & Company (NYSE:DE) Announces Quarterly Dividend of $1.62

Deere & Company (NYSE:DE) declared a quarterly dividend on Wednesday, May 27th. Investors of record on Tuesday, June 30th will be paid a dividend of 1.62 per share by the industrial products company on Monday, August 10th. This represents a c) dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Tuesday, June 30th.

Deere & Company has raised its dividend payment by an average of 0.2%per year over the last three years and has increased its dividend every year for the last 4 years. Deere & Company has a payout ratio of 29.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect Deere & Company to earn $22.99 per share next year, which means the company should continue to be able to cover its $6.48 annual dividend with an expected future payout ratio of 28.2%.

Deere & Company Stock Performance

Shares of Deere & Company stock opened at $529.26 on Thursday. The stock has a market cap of $142.96 billion, a price-to-earnings ratio of 29.99, a PEG ratio of 1.97 and a beta of 0.96. The firm’s 50-day moving average is $573.56 and its 200 day moving average is $541.56. Deere & Company has a 1 year low of $433.00 and a 1 year high of $674.19. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.18 and a quick ratio of 1.95.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.70 by $0.85. The company had revenue of $11.78 billion for the quarter, compared to analysts’ expectations of $11.55 billion. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. Deere & Company’s revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $6.64 EPS. Sell-side analysts anticipate that Deere & Company will post 18.05 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Wall Street Zen upgraded shares of Deere & Company from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. DA Davidson lowered their price objective on Deere & Company from $775.00 to $685.00 and set a “buy” rating on the stock in a research report on Friday, May 22nd. Citigroup lowered their price objective on Deere & Company from $625.00 to $595.00 and set a “neutral” rating on the stock in a research report on Friday, May 22nd. UBS Group upped their price objective on Deere & Company from $535.00 to $775.00 and gave the company a “buy” rating in a research report on Friday, February 20th. Finally, Jefferies Financial Group raised Deere & Company from an “underperform” rating to a “hold” rating and set a $550.00 price objective on the stock in a research report on Wednesday, April 8th. Fifteen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, Deere & Company currently has an average rating of “Moderate Buy” and a consensus price target of $638.08.

Deere & Company Company Profile

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.