Deere (DE) Declares $1.25 Dividend
Deere said on May 31, 2023 that its board of directors declared a regular quarterly dividend of $1.25 per share ($5.00 annualized). Previously, the company paid $1.25 per share.
Shares must be purchased before the ex-div date of June 29, 2023 to qualify for the dividend. Shareholders of record as of June 30, 2023 will receive the payment on August 8, 2023.
At the current share price of $345.98 / share, the stock's dividend yield is 1.45%.
Looking back five years and taking a sample every week, the average dividend yield has been 1.51%, the lowest has been 0.90%, and the highest has been 2.74%. The standard deviation of yields is 0.41 (n=237).
The current dividend yield is 0.15 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.17. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.64%, demonstrating that it has increased its dividend over time.
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What is the Fund Sentiment?
There are 3260 funds or institutions reporting positions in Deere. This is an increase of 23 owner(s) or 0.71% in the last quarter. Average portfolio weight of all funds dedicated to DE is 0.54%, a decrease of 3.65%. Total shares owned by institutions decreased in the last three months by 0.04% to 241,491K shares. 
The put/call ratio of DE is 1.39, indicating a bearish outlook.
Analyst Price Forecast Suggests 30.60% Upside
As of June 1, 2023, the average one-year price target for Deere is 451.86. The forecasts range from a low of 308.05 to a high of $588.00. The average price target represents an increase of 30.60% from its latest reported closing price of 345.98.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Deere is 55,138MM, a decrease of 7.58%. The projected annual non-GAAP EPS is 28.90.
What are Other Shareholders Doing?
Jpmorgan Chase holds 13,065K shares representing 4.41% ownership of the company. In it's prior filing, the firm reported owning 13,288K shares, representing a decrease of 1.70%. The firm decreased its portfolio allocation in DE by 12.50% over the last quarter.
Ofi Invest Asset Management holds 9,392K shares representing 3.17% ownership of the company.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 8,257K shares representing 2.79% ownership of the company. In it's prior filing, the firm reported owning 8,257K shares, representing a decrease of 0.01%. The firm decreased its portfolio allocation in DE by 11.09% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 6,310K shares representing 2.13% ownership of the company. In it's prior filing, the firm reported owning 6,349K shares, representing a decrease of 0.63%. The firm decreased its portfolio allocation in DE by 11.25% over the last quarter.
Wellington Management Group Llp holds 5,232K shares representing 1.77% ownership of the company. In it's prior filing, the firm reported owning 5,658K shares, representing a decrease of 8.14%. The firm decreased its portfolio allocation in DE by 87.58% over the last quarter.
Deere Background Information
(This description is provided by the company.)
Deere & Company is a world leader in providing advanced products, technology and services for customers whose work is revolutionizing agriculture and construction - those who cultivate, harvest, transform, enrich and build upon the land to meet the world's increasing need for food, fuel, shelter and infrastructure.
Key filings for this company:
This story originally appeared on Fintel.