Deere & Company (NYSE:DE) Announces Earnings Results

Deere & Company (NYSE:DE) posted its earnings results on Thursday. The industrial products company reported $5.10 earnings per share for the quarter, beating the consensus estimate of $4.71 by $0.39, FiscalAI reports. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The company had revenue of $12.61 billion for the quarter, compared to analyst estimates of $10.81 billion.

Deere & Company Stock Down 1.5%

Deere & Company stock opened at $580.06 on Thursday. The firm has a market capitalization of $156.58 billion, a P/E ratio of 32.86, a P/E/G ratio of 2.49 and a beta of 0.90. The company has a current ratio of 2.18, a quick ratio of 1.95 and a debt-to-equity ratio of 1.54. Deere & Company has a twelve month low of $433.00 and a twelve month high of $674.19. The stock’s fifty day simple moving average is $604.36 and its 200-day simple moving average is $589.65.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Stockholders of record on Tuesday, June 30th were given a dividend of $1.62 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.1%. Deere & Company’s dividend payout ratio is currently 36.71%.

Institutional Investors Weigh In On Deere & Company

Several large investors have recently bought and sold shares of DE. Mcguire Capital Advisors Inc. acquired a new stake in Deere & Company in the fourth quarter valued at about $52,000. Compound Planning Inc. increased its holdings in Deere & Company by 7.1% during the 4th quarter. Compound Planning Inc. now owns 4,017 shares of the industrial products company’s stock valued at $1,870,000 after acquiring an additional 267 shares in the last quarter. Axxcess Wealth Management LLC raised its position in Deere & Company by 10.5% during the fourth quarter. Axxcess Wealth Management LLC now owns 7,906 shares of the industrial products company’s stock worth $3,681,000 after acquiring an additional 751 shares during the last quarter. Strive Financial Group LLC acquired a new position in Deere & Company during the fourth quarter worth about $36,000. Finally, Widmann Financial Services Inc. purchased a new stake in shares of Deere & Company in the fourth quarter valued at about $346,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

More Deere & Company News

Here are the key news stories impacting Deere & Company this week:

• Positive Sentiment: Major earnings and revenue beat: Deere reported quarterly EPS of $5.10, above the $4.71 consensus estimate, while revenue reached $12.61 billion versus expectations of approximately $10.8 billion. Net income totaled $1.379 billion. Deere quarterly earnings press release
• Positive Sentiment: Full-year outlook improved: Management raised its net income guidance to $4.75 billion-$5.00 billion, signaling that disciplined execution and stronger operating performance are offsetting a difficult market environment. Deere reports third-quarter net income
• Positive Sentiment: Construction equipment provided growth: Continued expansion in Deere’s construction equipment business helped offset softness elsewhere, contributing to higher quarterly profit and sales. Deere’s profit rises as sales climb
• Neutral Sentiment: Investor focus remains on agriculture: Deere’s results offer evidence of resilience, but the company’s production agriculture segment continues to face weak demand and cautious farm spending. The earnings beat may therefore be viewed as more dependent on construction and cost discipline than on a broad recovery in its core agricultural market.
• Negative Sentiment: Valuation and cyclical risks remain: With Deere trading at a relatively elevated earnings multiple and agricultural conditions still weak, investors may question how durable the earnings improvement will be if farm equipment demand does not recover.

Wall Street Analyst Weigh In

Several research firms have recently commented on DE. Wall Street Zen raised shares of Deere & Company from a “sell” rating to a “hold” rating in a research report on Sunday, July 5th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Deere & Company in a research report on Tuesday. Seaport Research Partners set a $570.00 target price on Deere & Company in a research note on Friday, August 14th. Raymond James Financial reduced their target price on Deere & Company from $765.00 to $700.00 and set an “outperform” rating on the stock in a research report on Friday, May 22nd. Finally, Citigroup increased their price target on Deere & Company from $575.00 to $610.00 and gave the stock a “neutral” rating in a report on Tuesday, July 14th. Fourteen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $641.98.

Deere & Company Company Profile

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.