Deere & Company (NYSE:DE) announced a quarterly dividend on Wednesday, December 6th, RTT News reports. Shareholders of record on Friday, December 29th will be paid a dividend of 0.60 per share by the industrial products company on Thursday, February 1st. This represents a $2.40 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date of this dividend is Thursday, December 28th.
Deere & Company has increased its dividend payment by an average of 6.4% per year over the last three years. Deere & Company has a dividend payout ratio of 30.2% meaning its dividend is sufficiently covered by earnings. Analysts expect Deere & Company to earn $9.52 per share next year, which means the company should continue to be able to cover its $2.40 annual dividend with an expected future payout ratio of 25.2%.
Shares of Deere & Company (DE) traded up $1.22 during mid-day trading on Wednesday, reaching $158.75. The company’s stock had a trading volume of 2,407,100 shares, compared to its average volume of 2,364,256. The company has a market capitalization of $51,010.00, a P/E ratio of 23.76, a P/E/G ratio of 2.42 and a beta of 0.77. The company has a debt-to-equity ratio of 2.71, a quick ratio of 1.95 and a current ratio of 2.12. Deere & Company has a 1-year low of $102.78 and a 1-year high of $158.76.
In other Deere & Company news, insider Cory J. Reed sold 6,416 shares of the business’s stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $151.54, for a total value of $972,280.64. Following the transaction, the insider now owns 11,383 shares of the company’s stock, valued at $1,724,979.82. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider John C. May II sold 22,095 shares of the business’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $127.04, for a total value of $2,806,948.80. Following the completion of the transaction, the insider now directly owns 51,429 shares in the company, valued at approximately $6,533,540.16. The disclosure for this sale can be found here. Insiders have sold 224,642 shares of company stock valued at $31,335,834 in the last quarter. 0.75% of the stock is currently owned by corporate insiders.
DE has been the subject of several recent research reports. ValuEngine upgraded Deere & Company from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Deutsche Bank boosted their price objective on Deere & Company from $129.00 to $149.00 and gave the company a “hold” rating in a report on Thursday, November 16th. Zacks Investment Research upgraded Deere & Company from a “hold” rating to a “buy” rating and set a $150.00 price objective for the company in a report on Thursday, November 2nd. Robert W. Baird upgraded Deere & Company from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $140.00 to $155.00 in a report on Tuesday, November 21st. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $155.00 price objective (up previously from $134.00) on shares of Deere & Company in a report on Wednesday, November 22nd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and thirteen have issued a buy rating to the company. Deere & Company currently has an average rating of “Hold” and an average price target of $143.68.
About Deere & Company
Deere & Company is engaged in equipment operations. The Company is engaged in providing financial services. The Company operates through three business segments: agriculture and turf, construction and forestry, and financial services. The agriculture and turf segment manufactures and distributes a line of agriculture and turf equipment and related service parts.
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