Deere & Company (NYSE:DE) announced a quarterly dividend on Wednesday, February 28th, RTT News reports. Shareholders of record on Thursday, March 29th will be paid a dividend of 0.60 per share by the industrial products company on Tuesday, May 1st. This represents a $2.40 annualized dividend and a yield of 1.49%.
Deere & Company has raised its dividend by an average of 2.6% annually over the last three years. Deere & Company has a payout ratio of 29.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Deere & Company to earn $11.37 per share next year, which means the company should continue to be able to cover its $2.40 annual dividend with an expected future payout ratio of 21.1%.
Shares of Deere & Company (NYSE:DE) opened at $160.87 on Thursday. The firm has a market cap of $52,878.39, a price-to-earnings ratio of 36.81, a price-to-earnings-growth ratio of 2.09 and a beta of 0.75. The company has a current ratio of 1.98, a quick ratio of 1.69 and a debt-to-equity ratio of 2.85. Deere & Company has a 12-month low of $106.93 and a 12-month high of $175.26.
Several equities research analysts have weighed in on DE shares. BMO Capital Markets reissued a “buy” rating and set a $150.00 price target on shares of Deere & Company in a research report on Thursday, November 2nd. Zacks Investment Research raised shares of Deere & Company from a “hold” rating to a “buy” rating and set a $150.00 price target for the company in a research report on Thursday, November 2nd. Deutsche Bank increased their price target on shares of Deere & Company from $129.00 to $149.00 and gave the company a “hold” rating in a research report on Thursday, November 16th. Robert W. Baird raised shares of Deere & Company from a “neutral” rating to an “outperform” rating and increased their price target for the company from $140.00 to $155.00 in a research report on Tuesday, November 21st. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $155.00 price target (up previously from $134.00) on shares of Deere & Company in a research report on Wednesday, November 22nd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $170.86.
In related news, CEO Samuel R. Allen sold 269,353 shares of Deere & Company stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $163.83, for a total transaction of $44,128,101.99. Following the completion of the transaction, the chief executive officer now directly owns 361,166 shares of the company’s stock, valued at approximately $59,169,825.78. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Marc A. Howze sold 7,731 shares of Deere & Company stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $151.76, for a total transaction of $1,173,256.56. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 437,368 shares of company stock valued at $71,433,000. Corporate insiders own 0.74% of the company’s stock.
About Deere & Company
Deere & Company is engaged in equipment operations. The Company is engaged in providing financial services. The Company operates through three business segments: agriculture and turf, construction and forestry, and financial services. The agriculture and turf segment manufactures and distributes a line of agriculture and turf equipment and related service parts.
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