Today, Deere & Co. (DE) Releases Quarterly Earnings Results, Beats Estimates By $0.50 EPS

Today, Deere & Co. (DE) Releases Quarterly  Earnings Results, Beats Estimates By $0.50 EPS
Deere & Co. (NYSE:DE) issued its quarterly earnings data on Wednesday. The company reported $0.90 EPS for the quarter, topping the Thomson Reuters’ 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 company earned $6.52 billion during the quarter. During the same period in the previous year, the firm posted $1.08 EPS. The firm’s revenue for the quarter was down 4.8% compared to the same quarter last year.

Shares of Deere & Co. (NYSE:DE) opened at 102.17 on Friday. The stock has a 50 day moving average price of $88.69 and a 200-day moving average price of $84.01. Deere & Co. has a 1-year low of $70.16 and a 1-year 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 business also recently announced a quarterly dividend, which was paid on Tuesday, November 1st. Stockholders of record on Friday, September 30th were paid a $0.60 dividend. The ex-dividend date of this dividend was Wednesday, September 28th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.35%. Deere & Co.’s dividend payout ratio is currently 48.10%.

Several research analysts have recently commented on DE shares. Wells Fargo & Co. raised Deere & Co. from a “market perform” rating to an “outperform” rating in a report on Monday, October 10th. Clarkson Capital raised Deere & Co. from a “neutral” rating to a “buy” rating in a report on Tuesday, October 18th. Barclays PLC boosted their price objective on Deere & Co. from $63.00 to $68.00 and gave the stock an “underweight” rating in a report on Wednesday, October 12th. Argus boosted their price objective on Deere & Co. from $90.00 to $98.00 and gave the stock a “buy” rating in a report on Tuesday, August 23rd. Finally, Jefferies Group cut their price objective on Deere & Co. from $90.00 to $85.00 and set a “hold” rating for the company in a report on Thursday, August 25th. Seven research analysts have rated the stock with a sell rating, twelve have issued a hold rating and nine have given a buy rating to the company’s stock. Deere & Co. currently has a consensus rating of “Hold” and a consensus price target of $86.49.

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 stock was sold at an average price of $96.46, for a total transaction of $1,795,506.44. Following the completion of the transaction, the insider now owns 28,926 shares in the company, valued at approximately $2,790,201.96. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.75% of the company’s stock.

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

Deere & Co. Company Profile

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