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

Deere & Company (NYSE:DE) announced a quarterly dividend on Wednesday, May 27th. Shareholders of record on Tuesday, June 30th will be given a dividend of 1.62 per share by the industrial products company on Monday, August 10th. This represents a c) annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Tuesday, June 30th.

Deere & Company has increased its dividend 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 dividend payout ratio of 29.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Deere & Company to earn $22.99 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 28.2%.

Deere & Company Stock Performance

DE stock opened at $529.26 on Thursday. Deere & Company has a one year low of $433.00 and a one year high of $674.19. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.95 and a current ratio of 2.18. The firm has a market cap of $142.96 billion, a price-to-earnings ratio of 29.99, a PEG ratio of 1.97 and a beta of 0.96. The firm has a 50-day simple moving average of $573.56 and a two-hundred day simple moving average of $541.56.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, May 21st. The industrial products company reported $6.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.70 by $0.85. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The firm had revenue of $11.78 billion for the quarter, compared to the consensus estimate of $11.55 billion. During the same quarter in the prior year, the company posted $6.64 earnings per share. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. On average, equities analysts forecast that Deere & Company will post 18.05 EPS for the current fiscal year.

Hedge Funds Weigh In On Deere & Company

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Anchyra Partners LLC increased its holdings in Deere & Company by 0.5% in the 1st quarter. Anchyra Partners LLC now owns 3,191 shares of the industrial products company’s stock worth $1,797,000 after buying an additional 17 shares during the period. William B. Walkup & Associates Inc. increased its holdings in Deere & Company by 0.6% in the 1st quarter. William B. Walkup & Associates Inc. now owns 2,908 shares of the industrial products company’s stock worth $1,638,000 after buying an additional 17 shares during the period. Advisortrust Partners LLC increased its holdings in Deere & Company by 2.0% in the 1st quarter. Advisortrust Partners LLC now owns 914 shares of the industrial products company’s stock worth $515,000 after buying an additional 18 shares during the period. Cerro Pacific Wealth Advisors LLC increased its holdings in Deere & Company by 0.6% in the 4th quarter. Cerro Pacific Wealth Advisors LLC now owns 3,179 shares of the industrial products company’s stock worth $1,480,000 after buying an additional 19 shares during the period. Finally, Hazlett Burt & Watson Inc. increased its holdings in Deere & Company by 2.4% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 816 shares of the industrial products company’s stock worth $379,000 after buying an additional 19 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.