Deere & Company (NYSE:DE) issued its quarterly earnings results on Friday, February 16th. The industrial products company reported $1.31 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.16 by $0.15, Bloomberg Earnings reports. The business had revenue of $5.97 billion for the quarter, compared to analysts’ expectations of $6.41 billion. Deere & Company had a net margin of 4.57% and a return on equity of 27.18%. The company’s revenue was up 27.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.61 EPS.
Deere & Company (DE) opened at $164.03 on Tuesday. The stock has a market cap of $54,373.68, a price-to-earnings ratio of 37.54, a price-to-earnings-growth ratio of 2.15 and a beta of 0.76. The company has a current ratio of 1.98, a quick ratio of 1.69 and a debt-to-equity ratio of 2.85. Deere & Company has a twelve month low of $106.93 and a twelve month high of $175.26.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 1st. Shareholders of record on Thursday, March 29th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.46%. The ex-dividend date is Wednesday, March 28th. Deere & Company’s payout ratio is 54.92%.
DE has been the topic of a number of research reports. Wells Fargo & Co restated an “outperform” rating and issued a $200.00 target price (up from $170.00) on shares of Deere & Company in a report on Wednesday, January 10th. Piper Jaffray Companies reaffirmed a “neutral” rating and set a $160.00 price target (up from $142.00) on shares of Deere & Company in a research note on Thursday, February 15th. ValuEngine raised shares of Deere & Company from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Morgan Stanley began coverage on shares of Deere & Company in a research note on Friday, March 2nd. They set an “overweight” rating and a $195.00 price target for the company. Finally, BMO Capital Markets boosted their price objective on shares of Deere & Company to $165.00 and gave the company an “outperform” rating in a research report on Tuesday, November 28th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the company. Deere & Company has a consensus rating of “Buy” and a consensus target price of $172.07.
In other Deere & Company news, CEO Samuel R. Allen sold 269,353 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $163.83, for a total transaction of $44,128,101.99. Following the completion of the transaction, the chief executive officer now owns 361,166 shares of the company’s stock, valued at $59,169,825.78. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Cory J. Reed sold 6,416 shares of the stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $151.54, for a total transaction of $972,280.64. Following the transaction, the insider now directly owns 11,383 shares of the company’s stock, valued at approximately $1,724,979.82. The disclosure for this sale can be found here. Insiders sold 386,813 shares of company stock valued at $63,783,286 over the last quarter. Company insiders own 0.74% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. LeJeune Puetz Investment Counsel LLC purchased a new position in Deere & Company in the fourth quarter worth approximately $101,000. Icon Wealth Partners LLC purchased a new position in Deere & Company in the fourth quarter worth approximately $110,000. Pin Oak Investment Advisors Inc. purchased a new position in Deere & Company in the fourth quarter worth approximately $122,000. Cerebellum GP LLC purchased a new position in Deere & Company in the fourth quarter worth approximately $132,000. Finally, TCI Wealth Advisors Inc. lifted its stake in Deere & Company by 107.3% in the fourth quarter. TCI Wealth Advisors Inc. now owns 885 shares of the industrial products company’s stock worth $139,000 after acquiring an additional 458 shares during the last quarter. 67.37% of the stock is owned by institutional investors and hedge funds.
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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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