Deere & Company (NYSE:DE) to Issue Dividend Increase – $1.62 Per Share

Deere & Company (NYSE:DE) declared a quarterly dividend on Tuesday, December 3rd,RTT News reports. Stockholders of record on Tuesday, December 31st will be paid a dividend of 1.62 per share by the industrial products company on Monday, February 10th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.42%. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47.

Deere & Company has increased its dividend payment by an average of 20.5% per year over the last three years. Deere & Company has a payout ratio of 30.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Deere & Company to earn $22.23 per share next year, which means the company should continue to be able to cover its $5.88 annual dividend with an expected future payout ratio of 26.5%.

Deere & Company Trading Down 0.4 %

Shares of NYSE:DE opened at $457.50 on Wednesday. Deere & Company has a 12-month low of $340.20 and a 12-month high of $469.39. The business’s fifty day simple moving average is $415.29 and its 200-day simple moving average is $389.04. The company has a current ratio of 2.09, a quick ratio of 1.90 and a debt-to-equity ratio of 1.89. The company has a market capitalization of $125.17 billion, a PE ratio of 17.94, a P/E/G ratio of 1.98 and a beta of 0.96.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, topping the consensus estimate of $3.89 by $0.66. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The firm had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.20 billion. During the same period in the previous year, the business earned $8.26 EPS. The firm’s revenue for the quarter was down 32.8% on a year-over-year basis. As a group, equities research analysts predict that Deere & Company will post 19.52 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on DE. Morgan Stanley boosted their target price on Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a research note on Monday, November 25th. JPMorgan Chase & Co. boosted their price objective on Deere & Company from $420.00 to $450.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. UBS Group boosted their price objective on Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Truist Financial boosted their price objective on Deere & Company from $496.00 to $538.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Finally, Evercore ISI upped their target price on Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a research note on Monday, August 19th. Twelve equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $436.41.

Deere & Company Company Profile

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.