Deere & Company (NYSE:DE) Announces Earnings Results

Deere & Company (NYSE:DE) posted its earnings results on Thursday. The industrial products company reported $3.19 EPS for the quarter, topping analysts’ consensus estimates of $3.14 by $0.05, Zacks reports. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%.

Deere & Company Trading Down 0.6 %

Shares of Deere & Company stock traded down $2.88 on Thursday, hitting $473.68. 1,876,801 shares of the company’s stock traded hands, compared to its average volume of 1,363,170. The company has a fifty day moving average of $445.86 and a two-hundred day moving average of $415.14. Deere & Company has a one year low of $340.20 and a one year high of $485.84. The company has a market capitalization of $129.01 billion, a price-to-earnings ratio of 18.40, a price-to-earnings-growth ratio of 2.87 and a beta of 0.98. The company has a debt-to-equity ratio of 1.89, a current ratio of 2.09 and a quick ratio of 1.90.

Deere & Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st were given a $1.62 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. This represents a $6.48 annualized dividend and a dividend yield of 1.37%. Deere & Company’s dividend payout ratio (DPR) is 25.31%.

Wall Street Analyst Weigh In

DE has been the subject of several research reports. Citigroup dropped their price objective on shares of Deere & Company from $470.00 to $430.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. Jefferies Financial Group cut Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price target for the company. in a research note on Friday, December 6th. Morgan Stanley boosted their price objective on Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a research report on Monday, November 25th. Barclays increased their target price on Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Finally, Truist Financial boosted their price target on Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Eleven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Deere & Company currently has a consensus rating of “Hold” and a consensus price target of $446.17.

About Deere & Company

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.