Deere & Company (DE) To Go Ex-Dividend on March 31st

Deere & Company (NYSE:DE) declared a quarterly dividend on Wednesday, February 26th, RTT News reports. Investors of record on Monday, March 31st will be given a dividend of 1.62 per share by the industrial products company on Thursday, May 8th. This represents a $6.48 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date of this dividend is Monday, March 31st.

Deere & Company has raised its dividend payment by an average of 15.6% annually over the last three years. Deere & Company has a dividend payout ratio of 29.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Deere & Company to earn $22.03 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 29.4%.

Deere & Company Trading Up 0.5 %

Deere & Company stock opened at $480.69 on Friday. The company has a market cap of $130.92 billion, a price-to-earnings ratio of 21.31, a P/E/G ratio of 2.14 and a beta of 0.98. The firm has a 50-day moving average of $456.00 and a 200-day moving average of $424.69. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.22 and a quick ratio of 1.98. Deere & Company has a one year low of $340.20 and a one year high of $515.05.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.14 by $0.05. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. On average, equities analysts expect that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Deere & Company news, insider Rajesh Kalathur sold 24,580 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $500.61, for a total transaction of $12,304,993.80. Following the sale, the insider now directly owns 74,878 shares in the company, valued at $37,484,675.58. This represents a 24.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.29% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently weighed in on DE shares. Evercore ISI boosted their target price on shares of Deere & Company from $437.00 to $455.00 and gave the stock an “in-line” rating in a report on Wednesday, February 19th. Jefferies Financial Group lowered shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price objective on the stock. in a research note on Friday, December 6th. Citigroup raised their target price on shares of Deere & Company from $430.00 to $480.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. Truist Financial reissued a “buy” rating and set a $546.00 price target (down previously from $550.00) on shares of Deere & Company in a research report on Friday, February 14th. Finally, StockNews.com downgraded Deere & Company from a “hold” rating to a “sell” rating in a research note on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Deere & Company currently has a consensus rating of “Hold” and a consensus price target of $454.65.

Deere & Company Company Profile

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.