Today: Today, Deere & Co. (DE) Issues Earnings Results

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

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

Shares of Deere & Co. (NYSE:DE) opened at 102.17 on Friday. Deere & Co. has a 52-week low of $70.16 and a 52-week high of $102.50. The stock has a market capitalization of $32.12 billion, a PE ratio of 20.47 and a beta of 0.71. The stock has a 50 day moving average of $88.69 and a 200 day moving average of $84.01.

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 1st. Stockholders of record on Friday, September 30th were given a $0.60 dividend. The ex-dividend date 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 48.10%.

In related news, insider John C. May II sold 18,614 shares of the business’s 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 owns 28,926 shares in the company, valued at $2,790,201.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.75% of the stock is currently owned by corporate insiders.

A number of large investors have recently made changes to their positions in DE. Rehmann Capital Advisory Group boosted its stake in shares of Deere & Co. by 0.3% in the second quarter. Rehmann Capital Advisory Group now owns 2,693 shares of the company’s stock valued at $218,000 after buying an additional 8 shares in the last quarter. Signaturefd LLC boosted its stake in shares of Deere & Co. by 1.3% in the second quarter. Signaturefd LLC now owns 1,610 shares of the company’s stock valued at $130,000 after buying an additional 21 shares in the last quarter. FineMark National Bank & Trust boosted its stake in shares of Deere & Co. by 1.8% in the second quarter. FineMark National Bank & Trust now owns 1,451 shares of the company’s stock valued at $118,000 after buying an additional 26 shares in the last quarter. Capital Investment Advisors LLC boosted its stake in shares of Deere & Co. by 0.8% in the third quarter. Capital Investment Advisors LLC now owns 3,317 shares of the company’s stock valued at $283,000 after buying an additional 27 shares in the last quarter. Finally, Pacific Global Investment Management CO boosted its stake in shares of Deere & Co. by 0.3% in the second quarter. Pacific Global Investment Management CO now owns 9,468 shares of the company’s stock valued at $767,000 after buying an additional 31 shares in the last quarter. Institutional investors own 70.14% of the company’s stock.

A number of analysts recently weighed in on the stock. Royal Bank Of Canada upped their target price on shares of Deere & Co. from $80.00 to $98.00 and gave the stock a “sector perform” rating in a report on Friday. JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of Deere & Co. in a report on Friday, October 21st. RBC Capital Markets assumed coverage on shares of Deere & Co. in a report on Thursday, November 10th. They set an “outperform” rating on the stock. Oppenheimer Holdings Inc. lowered shares of Deere & Co. from an “outperform” rating to a “market perform” rating in a report on Thursday, October 27th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $96.00 target price on shares of Deere & Co. in a report on Thursday, August 18th. Eight investment analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $85.54.

Deere & Co. Company Profile

Deere & Company is engaged in equipment operations and financial services. The Company operates through three business segments: agriculture and turf, construction and forestry, and financial services. The Company’s agriculture and turf segment primarily manufactures and distributes a full line of agriculture and turf equipment and related service parts.

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