Deere & Company (NYSE:DE) to Issue $0.76 Quarterly Dividend

Deere & Company (NYSE:DE) announced a quarterly dividend on Wednesday, May 27th, RTT News reports. Stockholders of record on Tuesday, June 30th will be paid a dividend of 0.76 per share by the industrial products company on Monday, August 10th. This represents a $3.04 annualized dividend and a dividend yield of 2.04%. The ex-dividend date of this dividend is Monday, June 29th.

Deere & Company has increased its dividend by an average of 590.9% annually over the last three years and has increased its dividend every year for the last 2 years. Deere & Company has a payout ratio of 47.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Deere & Company to earn $8.14 per share next year, which means the company should continue to be able to cover its $3.04 annual dividend with an expected future payout ratio of 37.3%.

Shares of Deere & Company stock opened at $149.04 on Friday. The company has a quick ratio of 1.95, a current ratio of 2.20 and a debt-to-equity ratio of 2.89. Deere & Company has a 52 week low of $106.14 and a 52 week high of $181.99. The firm’s 50 day moving average is $148.29 and its two-hundred day moving average is $154.69. The firm has a market capitalization of $46.63 billion, a P/E ratio of 16.90, a P/E/G ratio of 3.53 and a beta of 0.93.

Deere & Company (NYSE:DE) last posted its earnings results on Friday, May 22nd. The industrial products company reported $2.11 EPS for the quarter, beating the Zacks’ consensus estimate of $1.62 by $0.49. Deere & Company had a net margin of 7.62% and a return on equity of 23.01%. The firm had revenue of $8.22 billion for the quarter, compared to the consensus estimate of $7.68 billion. During the same period last year, the firm posted $3.52 EPS. The company’s revenue was down 19.9% on a year-over-year basis. As a group, research analysts expect that Deere & Company will post 6.03 earnings per share for the current fiscal year.

DE has been the topic of a number of research analyst reports. Bank of America upgraded Deere & Company from an “underperform” rating to a “buy” rating in a research report on Monday, March 2nd. Goldman Sachs Group cut their price target on Deere & Company from $208.00 to $182.00 and set a “buy” rating on the stock in a research report on Thursday, March 19th. JPMorgan Chase & Co. raised Deere & Company from an “underweight” rating to a “neutral” rating and set a $140.00 price objective for the company in a report on Friday, March 27th. They noted that the move was a valuation call. Robert W. Baird lowered shares of Deere & Company from an “outperform” rating to a “neutral” rating and set a $150.00 target price on the stock. in a research report on Monday, April 13th. Finally, Wells Fargo & Co reduced their price target on shares of Deere & Company from $160.00 to $145.00 and set an “equal weight” rating for the company in a research report on Thursday, April 16th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $169.09.

About Deere & Company

Deere & Company manufactures and distributes various equipment worldwide. The company operates through three segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment offers agriculture and turf equipment, and related parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; and tillage, seeding, and application equipment.

Featured Story: What is the CAC 40 Index?

Dividend History for Deere & Company (NYSE:DE)

Receive News & Ratings for Deere & Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Deere & Company and related companies with MarketBeat.com's FREE daily email newsletter.