Deere & Company (DE) to Distribute Quarterly Dividend of $1.62 on November 9th

Deere & Company (NYSE:DE) declared a quarterly dividend on Wednesday, August 26th. Stockholders of record on Wednesday, September 30th will be paid a dividend of 1.62 per share by the industrial products company on Monday, November 9th. This represents a c) annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Wednesday, September 30th.

Deere & Company has raised its dividend payment by an average of 0.2%per year over the last three years and has raised its dividend annually for the last 4 consecutive years. Deere & Company has a dividend payout ratio of 29.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Deere & Company to earn $22.68 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 28.6%.

Deere & Company Stock Down 1.9%

Shares of NYSE:DE opened at $622.67 on Friday. The firm’s 50 day moving average price is $610.78 and its 200 day moving average price is $593.08. The stock has a market cap of $168.08 billion, a price-to-earnings ratio of 34.59, a price-to-earnings-growth ratio of 2.62 and a beta of 0.90. Deere & Company has a fifty-two week low of $433.00 and a fifty-two week high of $674.19. The company has a quick ratio of 1.89, a current ratio of 2.10 and a debt-to-equity ratio of 1.45.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, August 20th. The industrial products company reported $5.10 EPS for the quarter, topping the consensus estimate of $4.69 by $0.41. Deere & Company had a net margin of 10.16% and a return on equity of 18.10%. The company had revenue of $12.61 billion during the quarter, compared to analysts’ expectations of $10.81 billion. During the same quarter in the previous year, the business posted $4.75 EPS. The firm’s revenue was up 6.2% on a year-over-year basis. As a group, equities research analysts predict that Deere & Company will post 18.09 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its stake in Deere & Company by 39.1% during the 4th quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company’s stock worth $1,927,000 after purchasing an additional 1,278 shares during the period. Schnieders Capital Management LLC. increased its stake in Deere & Company by 7.8% in the second quarter. Schnieders Capital Management LLC. now owns 2,076 shares of the industrial products company’s stock valued at $1,056,000 after purchasing an additional 150 shares during the period. Jump Financial LLC purchased a new stake in shares of Deere & Company in the second quarter valued at about $2,153,000. NewEdge Advisors LLC raised its holdings in shares of Deere & Company by 6.0% in the second quarter. NewEdge Advisors LLC now owns 18,758 shares of the industrial products company’s stock valued at $9,538,000 after buying an additional 1,067 shares during the last quarter. Finally, Main Street Financial Solutions LLC boosted its stake in shares of Deere & Company by 6.7% during the second quarter. Main Street Financial Solutions LLC now owns 1,551 shares of the industrial products company’s stock worth $789,000 after buying an additional 97 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.