Deere & Company (NYSE:DE) Expected to Earn Q1 2024 Earnings of $5.42 Per Share

Deere & Company (NYSE:DE) – Stock analysts at Zacks Research upped their Q1 2024 earnings estimates for Deere & Company in a report issued on Monday, September 4th. Zacks Research analyst M. Das now anticipates that the industrial products company will post earnings per share of $5.42 for the quarter, up from their prior forecast of $5.32. The consensus estimate for Deere & Company’s current full-year earnings is $33.76 per share. Zacks Research also issued estimates for Deere & Company’s Q4 2024 earnings at $8.34 EPS.

DE has been the subject of a number of other research reports. Deutsche Bank Aktiengesellschaft raised their target price on Deere & Company from $398.00 to $407.00 and gave the company a “hold” rating in a research note on Monday, August 21st. StockNews.com began coverage on Deere & Company in a report on Thursday, August 17th. They issued a “hold” rating for the company. UBS Group lifted their price objective on Deere & Company from $383.00 to $408.00 and gave the stock a “neutral” rating in a report on Monday, August 21st. Morgan Stanley cut their price target on Deere & Company from $537.00 to $517.00 in a report on Monday, May 22nd. Finally, Stifel Nicolaus decreased their target price on Deere & Company from $493.00 to $460.00 and set a “buy” rating on the stock in a research report on Monday, August 21st. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, Deere & Company presently has a consensus rating of “Moderate Buy” and an average price target of $458.53.

Deere & Company Price Performance

Shares of Deere & Company stock opened at $411.73 on Thursday. The business’s 50-day moving average price is $417.83 and its 200-day moving average price is $400.01. The company has a current ratio of 1.98, a quick ratio of 1.74 and a debt-to-equity ratio of 1.65. Deere & Company has a 12 month low of $328.62 and a 12 month high of $450.00. The firm has a market capitalization of $118.58 billion, a PE ratio of 12.17, a price-to-earnings-growth ratio of 0.94 and a beta of 1.07.

Deere & Company (NYSE:DE) last issued its earnings results on Friday, August 18th. The industrial products company reported $10.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.22 by $1.98. The firm had revenue of $14.28 billion for the quarter, compared to analyst estimates of $14.14 billion. Deere & Company had a return on equity of 46.15% and a net margin of 16.36%. The business’s revenue was up 9.9% on a year-over-year basis. During the same period in the previous year, the company posted $6.16 earnings per share.

Deere & Company Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 8th. Stockholders of record on Friday, September 29th will be given a $1.35 dividend. The ex-dividend date is Thursday, September 28th. This represents a $5.40 annualized dividend and a dividend yield of 1.31%. This is an increase from Deere & Company’s previous quarterly dividend of $1.25. Deere & Company’s payout ratio is presently 14.78%.

Insider Activity at Deere & Company

In other Deere & Company news, insider Cory J. Reed sold 4,680 shares of the business’s stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $449.75, for a total transaction of $2,104,830.00. Following the completion of the transaction, the insider now directly owns 36,563 shares of the company’s stock, valued at approximately $16,444,209.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Cory J. Reed sold 4,680 shares of the business’s stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $449.75, for a total transaction of $2,104,830.00. Following the sale, the insider now owns 36,563 shares in the company, valued at $16,444,209.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO John C. May II sold 52,967 shares of the company’s stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $416.02, for a total transaction of $22,035,331.34. Following the completion of the transaction, the chief executive officer now owns 109,126 shares in the company, valued at approximately $45,398,598.52. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

Institutional Trading of Deere & Company

A number of hedge funds have recently bought and sold shares of DE. Bank Julius Baer & Co. Ltd Zurich boosted its stake in shares of Deere & Company by 98,818.3% in the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 15,922,881 shares of the industrial products company’s stock valued at $6,451,792,000 after purchasing an additional 15,906,784 shares during the last quarter. Providence Capital Advisors LLC raised its holdings in Deere & Company by 41,880.9% during the 1st quarter. Providence Capital Advisors LLC now owns 5,703,524 shares of the industrial products company’s stock worth $13,814,000 after buying an additional 5,689,938 shares during the period. Geode Capital Management LLC raised its holdings in Deere & Company by 1.7% during the 2nd quarter. Geode Capital Management LLC now owns 4,890,455 shares of the industrial products company’s stock worth $1,975,565,000 after buying an additional 83,329 shares during the period. Morgan Stanley raised its holdings in Deere & Company by 13.8% during the 4th quarter. Morgan Stanley now owns 4,576,183 shares of the industrial products company’s stock worth $1,962,085,000 after buying an additional 554,133 shares during the period. Finally, FMR LLC raised its holdings in shares of Deere & Company by 9.5% in the first quarter. FMR LLC now owns 4,393,214 shares of the industrial products company’s stock valued at $1,813,871,000 after purchasing an additional 381,506 shares during the last quarter. 66.27% of the stock is owned by institutional investors.

About Deere & Company

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.