Deere & Company (NYSE:DE) Releases Quarterly Earnings Results, Beats Expectations By $0.12 EPS

Deere & Company (NYSE:DEGet Rating) released its earnings results on Friday. The industrial products company reported $6.81 earnings per share for the quarter, beating the consensus estimate of $6.69 by $0.12, RTT News reports. Deere & Company had a return on equity of 33.65% and a net margin of 12.69%. The firm had revenue of $12.03 billion for the quarter, compared to the consensus estimate of $13.16 billion. During the same quarter in the previous year, the company posted $5.68 EPS. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year.

Shares of NYSE DE opened at $364.62 on Friday. Deere & Company has a 12-month low of $320.50 and a 12-month high of $446.76. The stock’s fifty day simple moving average is $403.10 and its two-hundred day simple moving average is $377.39. The stock has a market capitalization of $111.86 billion, a PE ratio of 20.21, a price-to-earnings-growth ratio of 1.20 and a beta of 1.02. The company has a current ratio of 2.25, a quick ratio of 1.94 and a debt-to-equity ratio of 1.84.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 9th. Investors of record on Thursday, March 31st were paid a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date was Wednesday, March 30th. Deere & Company’s dividend payout ratio (DPR) is 23.28%.

In other Deere & Company news, insider Pentz Markwart Von sold 18,364 shares of the firm’s stock in a transaction that occurred on Monday, March 14th. The shares were sold at an average price of $393.00, for a total value of $7,217,052.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Rajesh Kalathur sold 32,391 shares of the company’s stock in a transaction on Monday, March 7th. The stock was sold at an average price of $400.00, for a total value of $12,956,400.00. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of DE. Morgan Stanley lifted its stake in shares of Deere & Company by 5.7% during the second quarter. Morgan Stanley now owns 2,479,850 shares of the industrial products company’s stock worth $874,668,000 after buying an additional 133,091 shares during the period. Flagship Harbor Advisors LLC raised its stake in Deere & Company by 2.4% in the 4th quarter. Flagship Harbor Advisors LLC now owns 1,125 shares of the industrial products company’s stock worth $386,000 after acquiring an additional 26 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new stake in Deere & Company during the 4th quarter worth about $659,000. Lombard Odier Asset Management USA Corp purchased a new stake in Deere & Company during the 4th quarter valued at about $694,000. Finally, Penserra Capital Management LLC increased its holdings in shares of Deere & Company by 23.3% in the fourth quarter. Penserra Capital Management LLC now owns 1,255 shares of the industrial products company’s stock valued at $430,000 after purchasing an additional 237 shares during the period. 67.35% of the stock is owned by institutional investors and hedge funds.

A number of research firms have weighed in on DE. Bank of America cut shares of Deere & Company from a “buy” rating to a “neutral” rating and cut their price objective for the company from $475.00 to $450.00 in a research report on Monday, April 25th. JPMorgan Chase & Co. raised shares of Deere & Company from an “underweight” rating to a “neutral” rating and increased their price objective for the stock from $355.00 to $440.00 in a research report on Monday, March 28th. DA Davidson raised their price objective on shares of Deere & Company from $455.00 to $480.00 in a research note on Friday, April 1st. Deutsche Bank Aktiengesellschaft upped their target price on Deere & Company from $400.00 to $417.00 and gave the company a “hold” rating in a research note on Tuesday, February 22nd. Finally, Wells Fargo & Company initiated coverage on Deere & Company in a research note on Friday, March 11th. They set an “overweight” rating and a $455.00 price target for the company. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $443.93.

Deere & Company Company Profile (Get Rating)

Deere & Company manufactures and distributes various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides mid-size tractors, combines, cotton pickers and strippers, sugarcane harvesters, harvesting front-end equipment, sugarcane loaders, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.

Further Reading

Earnings History for Deere & Company (NYSE:DE)

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