Equities research analysts predict that Deere & Company (NYSE:DE – Get Rating) will announce sales of $13.47 billion for the current fiscal quarter, Zacks Investment Research reports. Six analysts have made estimates for Deere & Company’s earnings, with estimates ranging from $13.03 billion to $13.99 billion. Deere & Company posted sales of $11.00 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 22.5%. The business is scheduled to issue its next quarterly earnings results on Monday, January 1st.
On average, analysts expect that Deere & Company will report full-year sales of $47.68 billion for the current financial year, with estimates ranging from $47.19 billion to $48.10 billion. For the next year, analysts forecast that the business will report sales of $53.15 billion, with estimates ranging from $49.43 billion to $56.62 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Deere & Company.
Deere & Company (NYSE:DE – Get Rating) last issued its quarterly earnings data on Friday, February 18th. The industrial products company reported $2.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.28 by $0.64. Deere & Company had a net margin of 12.69% and a return on equity of 33.65%. The firm had revenue of $8.53 billion during the quarter, compared to the consensus estimate of $8.28 billion. During the same quarter in the previous year, the firm posted $3.87 EPS. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year.
DE has been the subject of a number of recent research reports. Zacks Investment Research downgraded shares of Deere & Company from a “buy” rating to a “hold” rating and set a $412.00 price objective for the company. in a research report on Monday, February 14th. Robert W. Baird upped their target price on shares of Deere & Company from $425.00 to $475.00 in a report on Friday, January 7th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Deere & Company from $400.00 to $417.00 and gave the stock a “hold” rating in a report on Tuesday, February 22nd. StockNews.com initiated coverage on shares of Deere & Company in a report on Thursday, March 31st. They issued a “hold” rating for the company. Finally, Barclays boosted their price target on shares of Deere & Company from $400.00 to $415.00 and gave the stock an “overweight” rating in a research note on Thursday, January 13th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $439.06.
Shares of DE stock opened at $436.75 on Monday. Deere & Company has a 1 year low of $320.50 and a 1 year high of $439.41. The firm has a fifty day moving average price of $396.69 and a 200-day moving average price of $369.92. The company has a debt-to-equity ratio of 1.84, a current ratio of 2.25 and a quick ratio of 1.94. The company has a market cap of $133.99 billion, a price-to-earnings ratio of 24.21, a PEG ratio of 1.42 and a beta of 1.00.
The company also recently announced a quarterly dividend, which will be paid on Monday, May 9th. Shareholders of record on Thursday, March 31st will be issued a $1.05 dividend. This represents a $4.20 annualized dividend and a dividend yield of 0.96%. The ex-dividend date of this dividend is Wednesday, March 30th. Deere & Company’s dividend payout ratio is 23.28%.
In other Deere & Company news, insider Pentz Markwart Von sold 18,364 shares of Deere & Company stock in a transaction that occurred on Monday, March 14th. The shares were sold at an average price of $393.00, for a total transaction of $7,217,052.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Rajesh Kalathur sold 32,391 shares of Deere & Company stock in a transaction that occurred on Monday, March 7th. The shares were sold at an average price of $400.00, for a total transaction of $12,956,400.00. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of DE. Norges Bank acquired a new position in shares of Deere & Company in the 4th quarter valued at $959,748,000. Janus Henderson Group PLC lifted its stake in shares of Deere & Company by 60.3% in the 3rd quarter. Janus Henderson Group PLC now owns 3,212,882 shares of the industrial products company’s stock valued at $1,076,547,000 after purchasing an additional 1,208,338 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its stake in shares of Deere & Company by 27.1% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,783,591 shares of the industrial products company’s stock valued at $952,127,000 after purchasing an additional 593,336 shares during the period. Nordea Investment Management AB lifted its stake in shares of Deere & Company by 203.6% in the 1st quarter. Nordea Investment Management AB now owns 839,905 shares of the industrial products company’s stock valued at $352,307,000 after purchasing an additional 563,302 shares during the period. Finally, Alliancebernstein L.P. lifted its stake in shares of Deere & Company by 115.6% in the 3rd quarter. Alliancebernstein L.P. now owns 960,747 shares of the industrial products company’s stock valued at $321,917,000 after purchasing an additional 515,136 shares during the period. Hedge funds and other institutional investors own 65.28% of the company’s stock.
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.