Deere & Company (DE) Announces Earnings Results, Beats Expectations By $0.15 EPS
Deere & Company (NYSE:DE) released its earnings results on Friday, February 16th. The industrial products company reported $1.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.16 by $0.15, Bloomberg Earnings reports. The firm had revenue of $5.97 billion for the quarter, compared to analyst estimates of $6.41 billion. Deere & Company had a return on equity of 27.18% and a net margin of 4.57%. Deere & Company’s revenue was up 27.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.61 earnings per share.
Deere & Company (NYSE DE) traded up $1.76 during trading hours on Tuesday, hitting $165.79. The company had a trading volume of 89,830 shares, compared to its average volume of 2,527,243. The company has a debt-to-equity ratio of 2.85, a quick ratio of 1.69 and a current ratio of 1.98. The company has a market capitalization of $54,373.68, a P/E ratio of 37.54, a PEG ratio of 2.15 and a beta of 0.76. Deere & Company has a fifty-two week low of $106.93 and a fifty-two week high of $175.26.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 1st. Investors of record on Thursday, March 29th will be issued a dividend of $0.60 per share. The ex-dividend date is Wednesday, March 28th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.45%. Deere & Company’s payout ratio is presently 54.92%.
In other Deere & Company news, VP Mary K.W. Jones sold 10,220 shares of the firm’s stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $165.06, for a total value of $1,686,913.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Samuel R. Allen sold 269,353 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $163.83, for a total value of $44,128,101.99. Following the completion of the sale, the chief executive officer now directly owns 361,166 shares of the company’s stock, valued at $59,169,825.78. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 386,813 shares of company stock valued at $63,783,286. 0.74% of the stock is owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the stock. Bartlett & Co. LLC increased its stake in shares of Deere & Company by 552.8% in the 3rd quarter. Bartlett & Co. LLC now owns 105,048 shares of the industrial products company’s stock valued at $13,193,000 after purchasing an additional 88,955 shares during the last quarter. Bank of Nova Scotia Trust Co. bought a new stake in Deere & Company during the 3rd quarter worth $302,000. Bollard Group LLC grew its position in Deere & Company by 0.8% during the 4th quarter. Bollard Group LLC now owns 89,757 shares of the industrial products company’s stock worth $14,048,000 after acquiring an additional 679 shares during the last quarter. California Public Employees Retirement System grew its position in Deere & Company by 8.9% during the 3rd quarter. California Public Employees Retirement System now owns 796,383 shares of the industrial products company’s stock worth $100,018,000 after acquiring an additional 65,031 shares during the last quarter. Finally, IFP Advisors Inc grew its position in Deere & Company by 7.7% during the 3rd quarter. IFP Advisors Inc now owns 16,722 shares of the industrial products company’s stock worth $2,100,000 after acquiring an additional 1,197 shares during the last quarter. 67.37% of the stock is owned by institutional investors and hedge funds.
Deere & Company Company Profile
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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