Welcome to our dedicated page for Deere & news (Ticker: DE), a resource for investors and traders seeking the latest updates and insights on Deere & stock.
Deere & Company reports recurring business updates on agricultural equipment, construction and forestry machinery, turf and utility equipment, and John Deere Financial. Company news commonly covers earnings releases, earnings-call schedules, segment demand, shipments, order books, and financial-services activity tied to retail customer and dealer financing.
Other Deere updates include dividend declarations, board and senior leadership changes, material agreements, brand partnerships, and technology collaboration programs. Product and innovation themes often involve precision agriculture, automation, advanced sensing, analytics, telematics, robotics, and digital tools for agriculture, construction, roadbuilding, grounds care, and related equipment markets.
On August 19, 2021, John Deere (NYSE: DE) announced the termination of its joint venture with Hitachi Construction Machinery. The agreement will see Deere acquire the joint-venture factories located in Kernersville, NC; Indaiatuba, Brazil; and Langley, Canada, effective February 28, 2022, pending regulatory approval. Deere will continue to manufacture its excavators while Hitachi will take over the distribution of its branded equipment in the Americas. This strategic move is aimed at enhancing Deere’s control over its manufacturing and marketing operations.
Deere & Company (NYSE: DE) and the UAW have commenced negotiations for a new labor agreement covering approximately 10,100 employees at 12 facilities, with the current agreement expiring on Oct. 1. Key facilities involved are located in Iowa, Illinois, and Kansas. An additional agreement is being negotiated for nearly 100 employees at parts facilities in Denver and Atlanta. Deere emphasizes its history of constructive collaboration with labor to ensure competitive compensation and career development.
Deere & Company (NYSE: DE) has announced its acquisition of Bear Flag Robotics for $250 million. Founded in 2017, Bear Flag specializes in autonomous driving technology for existing agricultural machinery, aligning with Deere's strategy to enhance farm automation. The acquisition aims to address labor shortages and improve farming productivity. Deere plans to leverage Bear Flag's expertise and technology to deliver innovative solutions to farmers globally. The integration is expected to accelerate advancements in agricultural autonomy, benefiting both companies in tackling global food production challenges.
John Deere launches FarmCraft, an interactive Minecraft experience aimed at educating youth about modern agriculture. Available on the Minecraft Marketplace since June 8, 2021, FarmCraft allows players to engage in farming activities such as planting, growing, and harvesting crops. Developed with Blockworks, the initiative aims to spark interest in agricultural careers among young people. The platform features an automated researcher to guide players through various scenarios, enhancing the educational value of the experience.
Deere & Company (NYSE: DE) has announced a quarterly dividend of $0.90 per share, set to be paid on August 9, 2021. This dividend will benefit stockholders of record as of June 30, 2021. The decision reflects the company's consistent commitment to returning value to shareholders amidst market fluctuations.
Deere & Company (NYSE: DE) reported a significant net income of $1.790 billion, or $5.68 per share, for Q2 2021, marking a 169% increase year-over-year. Net sales surged by 30% to $12.058 billion due to robust market conditions. The equipment division's operating margin reached 19.5%, showcasing effective execution of strategic initiatives. Full-year earnings are forecasted to be between $5.3 and $5.7 billion. However, the company anticipates supply-chain pressures ahead, although it remains optimistic about maintaining strong performance throughout the year.
On May 18, 2021, John Deere (NYSE: DE) announced its commitment of over $2.7 million to support India's response to COVID-19. This initiative focuses on providing medical resources such as oxygen generators, ventilators, and ambulances. John Deere aims to enhance healthcare infrastructure in collaboration with United Way Mumbai. CEO John C. May highlighted the company's longstanding presence in India and its commitment to community investment. This funding aims to address immediate healthcare needs and foster long-term recovery.
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The John Deere Foundation has announced a $200 million investment over the next 10 years to enhance its philanthropic initiatives. This investment builds on the Foundation's legacy, which has awarded over $340 million in grants since 1948. The funds will be allocated as follows: $100 million for families and youth in Deere's home communities, $50 million to support farmers globally, and $50 million to empower the company's workforce. This commitment aligns with the United Nations Sustainable Development Goals.
Deere & Company (NYSE: DE) announced a quarterly dividend increase to $.90 per share, effective May 10, 2021, for stockholders on record as of March 31, 2021. This new rate marks an increase of 14 cents per share, approximately 18 percent higher than the previous dividend. CEO John C. May highlighted that the increase reflects the company’s strong performance and confidence in future prospects.