Deere & Company Announces Quarterly Dividend of $0.60 (DE)
Deere & Company (NYSE:DE) announced a quarterly dividend on Wednesday, December 6th, RTT News reports. Investors of record on Friday, December 29th will be given 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 1.59%.
Deere & Company has increased its dividend by an average of 6.4% per year over the last three years. Deere & Company has a payout ratio of 30.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Deere & Company to earn $9.40 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 25.5%.
Deere & Company (DE) traded down $0.30 during mid-day trading on Wednesday, reaching $150.67. 1,802,500 shares of the company were exchanged, compared to its average volume of 2,401,246. The firm has a market cap of $48,506.20, a PE ratio of 22.74, a PEG ratio of 2.33 and a beta of 0.77. The company has a quick ratio of 1.95, a current ratio of 2.12 and a debt-to-equity ratio of 2.71. Deere & Company has a one year low of $100.05 and a one year high of $152.68.
In other news, CFO Rajesh Kalathur sold 4,519 shares of Deere & Company stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $148.92, for a total transaction of $672,969.48. Following the completion of the transaction, the chief financial officer now directly owns 36,288 shares of the company’s stock, valued at approximately $5,404,008.96. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Pentz Markwart Von sold 22,095 shares of Deere & Company stock in a transaction that occurred on Tuesday, September 19th. The shares were sold at an average price of $120.10, for a total transaction of $2,653,609.50. Following the transaction, the insider now directly owns 51,626 shares of the company’s stock, valued at $6,200,282.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 197,497 shares of company stock valued at $26,540,705. Company insiders own 0.75% of the company’s stock.
A number of analysts recently commented on DE shares. Zacks Investment Research upgraded shares of Deere & Company from a “hold” rating to a “buy” rating and set a $150.00 target price for the company in a research note on Thursday, November 2nd. Deutsche Bank upgraded shares of Deere & Company from a “hold” rating to a “buy” rating and lifted their target price for the stock from $149.00 to $167.00 in a research note on Thursday, November 23rd. ValuEngine upgraded shares of Deere & Company from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Goldman Sachs Group started coverage on shares of Deere & Company in a research note on Tuesday, August 8th. They issued a “buy” rating for the company. Finally, BMO Capital Markets reiterated a “buy” rating and issued a $150.00 target price on shares of Deere & Company in a research note on Thursday, November 2nd. Three analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $140.33.
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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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