Trading Report: Today, Deere & Co. (DE) Announces Earnings Results

Today, Deere & Co. (DE) Announces  Earnings Results

Deere & Co. (NYSE:DE) posted its quarterly earnings data on Wednesday. The company reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.50. Deere & Co. had a return on equity of 22.73% and a net margin of 5.92%. The business had revenue of $6.52 billion for the quarter. During the same quarter last year, the business earned $1.08 EPS. Deere & Co.’s revenue for the quarter was down 4.8% compared to the same quarter last year.

Deere & Co. (NYSE:DE) opened at 102.17 on Friday. The stock’s 50 day moving average price is $88.69 and its 200 day moving average price is $84.01. The firm has a market capitalization of $32.12 billion, a P/E ratio of 20.47 and a beta of 0.71. Deere & Co. has a 12 month low of $70.16 and a 12 month high of $102.50.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 1st. Stockholders of record on Friday, September 30th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Wednesday, September 28th. This represents a $2.40 annualized dividend and a dividend yield of 2.35%. Deere & Co.’s dividend payout ratio is presently 48.10%.

In other Deere & Co. news, insider John C. May II sold 18,614 shares of the stock in a transaction on Wednesday, November 23rd. The shares were sold at an average price of $96.46, for a total value of $1,795,506.44. Following the sale, the insider now directly owns 28,926 shares in the company, valued at $2,790,201.96. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.75% of the stock is currently owned by company insiders.

Large investors have recently bought and sold shares of the company. Hartford Financial Management Inc. raised its stake in Deere & Co. by 5.2% in the third quarter. Hartford Financial Management Inc. now owns 1,210 shares of the company’s stock valued at $103,000 after buying an additional 60 shares during the period. Jolley Asset Management LLC raised its stake in Deere & Co. by 14.0% in the third quarter. Jolley Asset Management LLC now owns 1,225 shares of the company’s stock valued at $105,000 after buying an additional 150 shares during the period. CWM LLC raised its stake in Deere & Co. by 94.6% in the third quarter. CWM LLC now owns 1,234 shares of the company’s stock valued at $105,000 after buying an additional 600 shares during the period. Washington Trust Bank raised its stake in Deere & Co. by 59.0% in the second quarter. Washington Trust Bank now owns 1,240 shares of the company’s stock valued at $100,000 after buying an additional 460 shares during the period. Finally, Cornerstone Advisors Inc. raised its stake in shares of Deere & Co. by 6.0% in the third quarter. Cornerstone Advisors Inc. now owns 1,268 shares of the company’s stock worth $108,000 after buying an additional 72 shares during the last quarter. Institutional investors own 70.14% of the company’s stock.

DE has been the topic of several research reports. Royal Bank Of Canada increased their target price on Deere & Co. from $80.00 to $98.00 and gave the stock a “sector perform” rating in a research report on Friday. Longbow Research raised Deere & Co. from an “underperform” rating to a “neutral” rating in a research report on Friday. RBC Capital Markets increased their target price on Deere & Co. from $80.00 to $98.00 and gave the stock a “sector perform” rating in a research report on Friday. Macquarie raised Deere & Co. from an “underperform” rating to a “neutral” rating in a research report on Friday. Finally, Zacks Investment Research raised Deere & Co. from a “hold” rating to a “strong-buy” rating and set a $95.00 target price on the stock in a research report on Monday, September 12th. Seven analysts have rated the stock with a sell rating, twelve have issued a hold rating and nine have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $86.49.

Deere & Co. Company Profile

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