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

Deere & Company (NYSE:DE) declared a quarterly dividend on Wednesday, February 25th. Shareholders of record on Tuesday, March 31st will be given a dividend of 1.62 per share by the industrial products company on Friday, May 8th. This represents a c) annualized dividend and a yield of 1.0%. The ex-dividend date is Tuesday, March 31st.

Deere & Company has raised its dividend by an average of 0.2%annually 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% meaning its dividend is sufficiently covered by earnings. Research analysts expect Deere & Company to earn $22.03 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 29.4%.

Deere & Company Price Performance

Shares of NYSE:DE traded down $3.25 during midday trading on Thursday, hitting $620.36. The stock had a trading volume of 415,085 shares, compared to its average volume of 1,737,143. The company’s 50-day moving average price is $531.78 and its 200-day moving average price is $493.87. Deere & Company has a fifty-two week low of $404.42 and a fifty-two week high of $674.19. The company has a quick ratio of 1.96, a current ratio of 2.21 and a debt-to-equity ratio of 1.59. The company has a market capitalization of $168.16 billion, a P/E ratio of 34.99, a price-to-earnings-growth ratio of 2.30 and a beta of 1.02.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, February 19th. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.90 by $0.52. Deere & Company had a net margin of 10.29% and a return on equity of 18.93%. The business had revenue of $9.61 billion for the quarter, compared to analysts’ expectations of $7.50 billion. During the same period last year, the firm posted $3.19 earnings per share. The firm’s quarterly revenue was up 17.5% compared to the same quarter last year. As a group, equities research analysts predict that Deere & Company will post 19.32 EPS for the current fiscal year.

Insider Activity

In related news, insider Cory J. Reed sold 12,000 shares of Deere & Company stock in a transaction that occurred on Wednesday, January 14th. The shares were sold at an average price of $510.00, for a total transaction of $6,120,000.00. Following the sale, the insider directly owned 20,792 shares in the company, valued at $10,603,920. This trade represents a 36.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO John C. May II sold 41,472 shares of the business’s stock in a transaction that occurred on Thursday, January 8th. The stock was sold at an average price of $501.49, for a total transaction of $20,797,793.28. Following the sale, the chief executive officer directly owned 117,970 shares in the company, valued at $59,160,775.30. The trade was a 26.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.29% of the company’s stock.

Hedge Funds Weigh In On Deere & Company

Hedge funds have recently modified their holdings of the business. Strategic Advocates LLC acquired a new position in Deere & Company during the 3rd quarter worth about $25,000. Howard Hughes Medical Institute bought a new position in shares of Deere & Company during the second quarter worth about $27,000. Key Capital Management INC acquired a new position in shares of Deere & Company in the fourth quarter worth approximately $27,000. Timmons Wealth Management LLC acquired a new position in shares of Deere & Company in the fourth quarter worth approximately $29,000. Finally, Activest Wealth Management increased its position in Deere & Company by 69.2% during the 3rd quarter. Activest Wealth Management now owns 66 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 27 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.

About Deere & Company

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.