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

Deere & Company (NYSE:DE) announced a quarterly dividend on Wednesday, February 26th, RTT News reports. Shareholders 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 dividend on an annualized basis and a yield of 1.35%.

Deere & Company has raised its dividend payment by an average of 15.6% per year over the last three years. Deere & Company has a payout ratio of 29.2% indicating that its dividend is sufficiently covered by earnings. Equities 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 opened at $478.57 on Thursday. The firm has a market cap of $130.34 billion, a PE ratio of 21.21, a price-to-earnings-growth ratio of 2.14 and a beta of 0.98. The firm’s fifty day moving average is $454.92 and its 200-day moving average is $424.30. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.98 and a current ratio of 2.22. Deere & Company has a 52 week low of $340.20 and a 52 week high of $515.05.

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

Analysts Set New Price Targets

DE has been the topic of a number of recent research reports. Citigroup lifted their price target on shares of Deere & Company from $430.00 to $480.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Evercore ISI lifted their price target on shares of Deere & Company from $437.00 to $455.00 and gave the stock an “in-line” rating in a report on Wednesday, February 19th. Barclays boosted their target price on shares of Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Truist Financial restated a “buy” rating and issued a $546.00 target price (down previously from $550.00) on shares of Deere & Company in a report on Friday, February 14th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Deere & Company from $470.00 to $500.00 and gave the company a “neutral” rating in a report on Monday, February 10th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Deere & Company presently has an average rating of “Hold” and an average price target of $454.65.

Insider Transactions at Deere & Company

In other news, insider Rajesh Kalathur sold 24,580 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $500.61, for a total transaction of $12,304,993.80. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.29% of the stock is currently owned by 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.