Wall Street brokerages expect that Deere & Company (NYSE:DE) will report $9.80 billion in sales for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Deere & Company’s earnings. The lowest sales estimate is $9.41 billion and the highest is $10.12 billion. Deere & Company reported sales of $7.26 billion during the same quarter last year, which indicates a positive year over year growth rate of 35%. The business is expected to announce its next earnings report on Friday, May 18th.
On average, analysts expect that Deere & Company will report full year sales of $9.80 billion for the current fiscal year, with estimates ranging from $33.19 billion to $33.47 billion. For the next financial year, analysts forecast that the business will report sales of $35.76 billion per share, with estimates ranging from $35.04 billion to $36.26 billion. Zacks’ sales averages are an average based on a survey of research analysts that follow Deere & Company.
Deere & Company (NYSE:DE) last posted its quarterly earnings results on Friday, February 16th. The industrial products company reported $1.31 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.16 by $0.15. The company had revenue of $5.97 billion for the quarter, compared to the consensus estimate of $6.41 billion. Deere & Company had a net margin of 4.57% and a return on equity of 27.18%. Deere & Company’s revenue was up 27.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.61 earnings per share.
Deere & Company (NYSE:DE) traded down $4.06 during trading hours on Friday, reaching $156.81. 3,627,392 shares of the company’s stock were exchanged, compared to its average volume of 2,430,000. The company has a debt-to-equity ratio of 2.85, a quick ratio of 1.69 and a current ratio of 1.98. The stock has a market capitalization of $50,690.00, a P/E ratio of 23.47, a P/E/G ratio of 2.09 and a beta of 0.75. Deere & Company has a 12 month low of $106.93 and a 12 month high of $175.26.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 1st. Stockholders of record on Thursday, March 29th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date is Wednesday, March 28th. Deere & Company’s dividend payout ratio is presently 35.93%.
In related news, CEO Samuel R. Allen sold 269,353 shares of the firm’s stock in a transaction on 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 sale, the chief executive officer now directly owns 361,166 shares of the company’s stock, valued at approximately $59,169,825.78. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider John C. May II sold 20,835 shares of the firm’s stock in a transaction on Monday, December 11th. The shares were sold at an average price of $151.07, for a total transaction of $3,147,543.45. Following the sale, the insider now directly owns 11,383 shares of the company’s stock, valued at $1,719,629.81. The disclosure for this sale can be found here. In the last three months, insiders sold 437,368 shares of company stock worth $71,433,000. Insiders own 0.74% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Pillar Pacific Capital Management LLC grew its holdings in Deere & Company by 0.7% during the 4th quarter. Pillar Pacific Capital Management LLC now owns 46,477 shares of the industrial products company’s stock valued at $7,274,000 after purchasing an additional 310 shares in the last quarter. Dupont Capital Management Corp grew its holdings in Deere & Company by 22.8% during the 4th quarter. Dupont Capital Management Corp now owns 1,681 shares of the industrial products company’s stock worth $263,000 after acquiring an additional 312 shares in the last quarter. Advisor Partners LLC grew its holdings in Deere & Company by 4.4% during the 4th quarter. Advisor Partners LLC now owns 7,730 shares of the industrial products company’s stock worth $1,317,000 after acquiring an additional 323 shares in the last quarter. Cetera Advisor Networks LLC grew its holdings in Deere & Company by 3.6% during the 4th quarter. Cetera Advisor Networks LLC now owns 10,268 shares of the industrial products company’s stock worth $1,607,000 after acquiring an additional 355 shares in the last quarter. Finally, V Wealth Management LLC grew its holdings in Deere & Company by 6.9% during the 4th quarter. V Wealth Management LLC now owns 5,634 shares of the industrial products company’s stock worth $950,000 after acquiring an additional 364 shares in the last quarter. 66.24% of the stock is owned by institutional investors and hedge funds.
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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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