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

Deere & Company (NYSE:DE) declared a quarterly dividend on Wednesday, February 26th, RTT News reports. Stockholders of record on Monday, March 31st will be paid a dividend of 1.62 per share by the industrial products company on Thursday, May 8th. This represents a $6.48 annualized dividend and a dividend yield of 1.35%.

Deere & Company has raised its dividend by an average of 15.6% per year over the last three years. Deere & Company has a payout ratio of 29.2% meaning its dividend is sufficiently covered by earnings. 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 Stock Performance

Shares of DE traded down $7.37 during midday trading on Wednesday, hitting $480.23. 872,991 shares of the stock traded hands, compared to its average volume of 1,435,563. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.98 and a current ratio of 2.22. The business’s 50 day moving average price is $453.87 and its two-hundred day moving average price is $423.91. The firm has a market capitalization of $130.79 billion, a PE ratio of 21.29, a price-to-earnings-growth ratio of 2.14 and a beta of 0.98. Deere & Company has a 1-year low of $340.20 and a 1-year high of $515.05.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.14 by $0.05. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. Equities research analysts predict that Deere & Company will post 19.32 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on DE shares. JPMorgan Chase & Co. boosted their target price on shares of Deere & Company from $470.00 to $500.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. Truist Financial reaffirmed a “buy” rating and set a $546.00 target price (down previously from $550.00) on shares of Deere & Company in a research report on Friday, February 14th. UBS Group raised their price target on shares of Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. StockNews.com lowered shares of Deere & Company from a “hold” rating to a “sell” rating in a research report on Thursday, February 20th. Finally, Jefferies Financial Group lowered Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price target on the stock. in a research note on Friday, December 6th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $454.65.

Insider Activity

In other Deere & Company news, insider Rajesh Kalathur sold 24,580 shares of Deere & Company stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $500.61, for a total value of $12,304,993.80. Following the completion of the transaction, the insider now directly owns 74,878 shares of the company’s stock, valued at $37,484,675.58. The trade was a 24.71 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.29% of the stock is currently owned by company insiders.

Deere & Company Company Profile

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.