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

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

Deere & Co. (NYSE:DE) posted 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 quarter last year, the firm posted $1.08 earnings per share. Deere & Co.’s quarterly revenue was down 4.8% on a year-over-year basis.

Deere & Co. (NYSE:DE) traded up 1.69% during trading on Friday, reaching $103.90. The company had a trading volume of 2,637,458 shares. Deere & Co. has a 52-week low of $70.16 and a 52-week high of $104.09. The company has a market capitalization of $32.67 billion, a PE ratio of 20.82 and a beta of 0.71. The stock has a 50 day moving average price of $88.69 and a 200-day moving average price of $84.01.

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

Several equities research analysts have commented on the company. Citigroup Inc. cut their price objective on Deere & Co. from $100.00 to $87.00 and set a “buy” rating for the company in a research note on Monday, August 22nd. Barclays PLC boosted their price objective on Deere & Co. from $63.00 to $68.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 12th. Oppenheimer Holdings Inc. lowered Deere & Co. from an “outperform” rating to a “market perform” rating in a research note on Thursday, October 27th. Credit Suisse Group AG boosted their price objective on Deere & Co. from $87.00 to $100.00 and gave the stock an “outperform” rating in a research note on Monday, August 22nd. Finally, Wells Fargo & Co. upgraded Deere & Co. from a “market perform” rating to an “outperform” rating in a research note on Monday, October 10th. Seven investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and nine have issued a buy rating to the stock. Deere & Co. currently has an average rating of “Hold” and an average target price of $86.49.

In related 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 transaction 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 SEC, which can be accessed through this hyperlink. Corporate insiders own 0.75% of the company’s stock.

Several institutional investors have recently made changes to their positions in DE. Washington Trust Bank raised 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 period. Hartford Financial Management Inc. raised its position 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 position 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 position 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 position 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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