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

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

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

Deere & Co. (NYSE:DE) traded up 1.71% during trading on Friday, hitting $103.92. 6,583,409 shares of the stock traded hands. Deere & Co. has a one year low of $70.16 and a one year high of $104.83. The company’s 50 day moving average is $88.69 and its 200 day moving average is $84.01. The company has a market capitalization of $32.67 billion, a P/E ratio of 20.83 and a beta of 0.71.

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

A number of equities analysts have commented on DE shares. Robert W. Baird upgraded Deere & Co. from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $86.00 to $100.00 in a research note on Monday, October 31st. Piper Jaffray Cos. lifted their target price on Deere & Co. from $67.00 to $70.00 and gave the company an “underweight” rating in a research note on Monday, August 22nd. Mizuho downgraded Deere & Co. from a “buy” rating to a “neutral” rating in a research note on Wednesday, November 9th. Longbow Research upgraded Deere & Co. from an “underperform” rating to a “neutral” rating in a research note on Friday. Finally, Zacks Investment Research downgraded Deere & Co. from a “buy” rating to a “hold” rating in a research note on Tuesday, October 25th. Seven equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and nine have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $86.49.

In other Deere & Co. news, insider John C. May II sold 18,614 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now directly owns 28,926 shares of the company’s stock, valued at $2,790,201.96. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.75% of the stock is currently owned by company insiders.

A number of institutional investors have recently made changes to their positions in DE. Washington Trust Bank boosted its position in shares of 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 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. Finally, Cornerstone Advisors Inc. raised its stake in Deere & Co. by 6.0% in the third quarter. Cornerstone Advisors Inc. now owns 1,268 shares of the company’s stock valued at $108,000 after buying an additional 72 shares during the period. 70.14% of the stock is currently owned by hedge funds and other institutional investors.

About Deere & Co.

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