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

Deere & Company (NYSE:DE) announced a quarterly dividend on Wednesday, May 27th. Investors 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 is Tuesday, June 30th.

Deere & Company has raised its dividend by an average of 0.2%annually over the last three years and has increased its dividend every year for the last 4 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 Up 0.0%

NYSE DE opened at $529.26 on Thursday. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.18 and a quick ratio of 1.95. The stock has a market capitalization of $142.96 billion, a PE ratio of 29.99, a PEG ratio of 1.97 and a beta of 0.96. Deere & Company has a 1 year low of $433.00 and a 1 year high of $674.19. The business’s 50-day moving average is $573.56 and its 200 day moving average is $541.56.

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

Institutional Trading of Deere & Company

A number of hedge funds have recently modified their holdings of the business. Anchyra Partners LLC boosted its holdings in shares of Deere & Company by 0.5% during the 1st quarter. Anchyra Partners LLC now owns 3,191 shares of the industrial products company’s stock valued at $1,797,000 after buying an additional 17 shares in the last quarter. William B. Walkup & Associates Inc. boosted its position in shares of 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 purchasing an additional 17 shares in the last quarter. Advisortrust Partners LLC boosted its position in shares of 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 purchasing an additional 18 shares in the last quarter. Cerro Pacific Wealth Advisors LLC boosted its position in shares of 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 purchasing an additional 19 shares in the last quarter. Finally, Hazlett Burt & Watson Inc. boosted its position in shares of 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 purchasing an additional 19 shares in the last quarter. Institutional investors 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.