Deere & Co Stock Price, News & Analysis

Deere & Company (NYSE: DE) has announced a regular quarterly dividend of $1.05 per share on its common stock. This dividend will be payable on February 8, 2022, to stockholders of record as of December 31, 2021. This declaration reflects the company's commitment to returning value to shareholders while maintaining financial stability.

Deere reported a strong fourth quarter with net income rising 69% to $1.283 billion, or $4.12 per share, driven by a 16% increase in net sales to $11.327 billion. Fiscal 2021 showed a net income of $5.963 billion, a 117% increase year-over-year. The company forecasts fiscal 2022 earnings between $6.5 and $7.0 billion amid robust demand for farm and construction equipment, despite anticipated supply chain challenges. With a new UAW contract in place, Deere reaffirms its commitment to workforce welfare and product quality.

On November 10, 2021, John Deere (NYSE: DE) was recognized as a CES® 2022 Innovation Awards Best of Innovation honoree in both the Robotics and Vehicle Intelligence & Transportation categories. This marks the third consecutive year the company has received this accolade. The award highlights John Deere's See & Spray technology, which utilizes computer vision and machine learning to optimize herbicide application in agriculture. The CES 2022 event will take place from January 5-8, 2022, in Las Vegas, NV.

On November 1, 2021, Deere & Company (NYSE: DE) announced the election of Leanne G. Caret to its board of directors. Caret, a seasoned manufacturing executive from The Boeing Company, brings over two decades of experience in aerospace and defense, making her a valuable addition. In 2020, Boeing generated approximately $35 billion in revenue from defense and space operations. Caret's diverse expertise is expected to enhance Deere's innovative strategies in smart industrial operations, further solidifying its leadership position. The board now consists of 12 members, with 11 being independent.

On October 14, 2021, the UAW initiated a strike against Deere & Company (NYSE: DE), impacting over 10,000 workers at 14 facilities in the United States. Deere's vice president of labor relations, Brad Morris, expressed the company's commitment to achieving a favorable outcome for employees and maintaining operations during the negotiations. However, the company currently lacks a timeline for resuming activities and concluding negotiations. The strike could have significant implications for the company’s operations and stock performance.

On October 10, 2021, the UAW announced that Deere & Company (NYSE: DE) production and maintenance employees voted against tentative collective bargaining agreements affecting over 10,000 workers at 14 U.S. facilities. Deere's VP of labor relations, Brad Morris, expressed disappointment but reiterated the company's commitment to the bargaining process while operations will continue as usual. The rejected agreements aimed to enhance wages and benefits for employees significantly.

Deere & Company (NYSE: DE) has reached a tentative agreement with the UAW on a new six-year labor contract for approximately 10,100 employees across Iowa, Illinois, and Kansas. Additional agreements cover nearly 100 employees at parts facilities in Denver and Atlanta. Brad Morris, VP of labor relations, noted the agreement honors employees' contributions and strengthens their commitment to providing competitive wages and comprehensive benefits. Employees will review the agreement terms prior to a ratification vote, and all operations will continue as scheduled.

The Deere Company (NYSE: DE) Board of Directors has declared a quarterly dividend of $1.05 per share, an increase of 17% compared to the previous dividend. This new rate reflects strong performance and confidence in the company's future direction. The dividend is payable on November 8, 2021, to shareholders recorded by September 30, 2021. The increase signifies the company's commitment to returning value to shareholders amidst ongoing operational success.

Deere reported a robust third quarter with net income of $1.667 billion ($5.32 per share), a significant increase from $811 million ($2.57 per share) a year ago. Net sales surged 29% to $11.527 billion, driven by strong performance across equipment segments, particularly Production and Precision Agriculture with a 29% increase. The company raised its full-year earnings forecast to $5.7 to $5.9 billion, reflecting favorable market conditions and a strategic focus on technology and customer value. Equipment operating margin stood at 19%.