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

Deere & Company (NYSE:DE) declared a quarterly dividend on Wednesday, August 26th. Shareholders of record on Wednesday, September 30th will be paid a dividend of 1.62 per share by the industrial products company on Monday, November 9th. This represents a c) dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Wednesday, September 30th.

Deere & Company has increased its dividend payment by an average of 0.2%annually over the last three years and has increased its dividend annually for the last 4 consecutive years. Deere & Company has a payout ratio of 29.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Deere & Company to earn $22.68 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 28.6%.

Deere & Company Stock Performance

Deere & Company stock opened at $633.36 on Thursday. The company’s 50-day moving average price is $610.13 and its 200-day moving average price is $592.80. Deere & Company has a twelve month low of $433.00 and a twelve month high of $674.19. The company has a quick ratio of 1.89, a current ratio of 2.10 and a debt-to-equity ratio of 1.45. The company has a market cap of $170.97 billion, a PE ratio of 35.19, a price-to-earnings-growth ratio of 2.60 and a beta of 0.90.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, August 20th. The industrial products company reported $5.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.69 by $0.41. Deere & Company had a net margin of 10.16% and a return on equity of 18.10%. The firm had revenue of $12.61 billion for the quarter, compared to analysts’ expectations of $10.81 billion. During the same period in the prior year, the company earned $4.75 EPS. The business’s revenue was up 6.2% compared to the same quarter last year. On average, equities research analysts forecast that Deere & Company will post 18.09 EPS for the current fiscal year.

Institutional Investors Weigh In On Deere & Company

Several large investors have recently added to or reduced their stakes in DE. Mowery & Schoenfeld Wealth Management LLC purchased a new position in shares of Deere & Company during the second quarter worth approximately $27,000. Kilter Group LLC purchased a new stake in shares of Deere & Company in the second quarter valued at approximately $29,000. Timmons Wealth Management LLC purchased a new stake in shares of Deere & Company in the fourth quarter valued at approximately $29,000. McIlrath & Eck LLC bought a new position in Deere & Company in the fourth quarter worth approximately $30,000. Finally, Solstein Capital LLC bought a new position in Deere & Company in the second quarter worth approximately $30,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

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.