Deere & Co Stock Price, News & Analysis

John Deere has welcomed four new companies into its 2021 Startup Collaborator program, aimed at enhancing collaboration with startups that bring innovative technologies. The selected startups, Nori, NVision Ag, Scanit, and Teleo, focus on diverse areas such as carbon markets, nitrogen management for farmers, airborne plant pathogen detection, and tele-operated construction equipment. This year-long program allows Deere and the startups to test technologies with customers and dealers without formal business ties, fostering innovation and potential market transformation.

Deere & Company (NYSE: DE) announced a quarterly dividend of $0.76 per share on common stock, which will be paid on February 8, 2021. Stockholders of record as of December 31, 2020 will be eligible to receive this dividend. This announcement underscores the company's commitment to providing returns to its shareholders, reflecting its stable financial position and ongoing profitability.

Deere reported a 5% increase in fourth-quarter net income to $757 million, or $2.39 per share, amid disciplined cost management. However, total net sales decreased 2% to $9.731 billion for Q4 and 9% to $35.540 billion for the full year. The company anticipates 2021 earnings between $3.6 billion and $4.0 billion, driven by improving agricultural demand and smart industrial strategies. Despite certain negative impacts, including employee-separation costs, Deere remains optimistic about market recovery in agriculture and construction sectors.

John Deere (NYSE: DE) has acquired 5G licenses in five counties in Iowa and Illinois, enhancing its manufacturing facilities' connectivity. This move is part of the FCC auction for the Citizens Broadband Radio Service spectrum and will accelerate the deployment of 5G technology across North America. With 5G, John Deere aims to upgrade its Smart Industrial strategy, facilitating smart manufacturing, IoT, and real-time data applications. The rollout is anticipated during fiscal year 2022, particularly in Rock Island, Scott County, Dubuque, Polk County, and Black Hawk County.

John Deere (NYSE: DE) is hosting a virtual benefit concert titled The Farm Must Go On on December 9, 2020, featuring country artists like Dustin Lynch and Maddie & Tae. The concert aims to raise funds for Farm Rescue, which assists farmers in crisis. Fans can enter a contest to win meet-and-greets with the artists by donating at least $10. All proceeds will support volunteer efforts to aid farmers affected by various adversities.

John Deere (NYSE:DE), in collaboration with the National Black Growers Council and the Thurgood Marshall College Fund, has launched the LEAP coalition to address heirs' property rights and enhance Black farmers' livelihoods. The coalition aims to improve access to tools, technology, and educational resources needed for sustainable farming. Research shows that 60% of Black farmers lack secure title to their land, impeding their ability to leverage property value. The partnership underscores a commitment to racial equality and includes financial support for social justice organizations.

Deere & Company (NYSE: DE) has successfully completed its acquisition of Unimil, a prominent Brazilian provider of aftermarket service parts for sugarcane harvesters. This move aims to enhance Deere's commitment to the sugarcane sector in Brazil and offer cost-effective solutions to customers. Unimil, established in 1999, operates from Piracicaba and employs around 430 staff. This acquisition is expected to reshape Deere's operating model and help customers become more profitable and sustainable.