Welcome to our dedicated page for Deere & Company news (Ticker: DE), a resource for investors and traders seeking the latest updates and insights on Deere & Company stock.
Deere & Company, commonly known as John Deere, is a leading American corporation specializing in the design, manufacture, and distribution of agricultural machinery, heavy equipment, forestry machinery, diesel engines, and lawn care equipment. With a robust portfolio, Deere & Company operates through four key segments: production and precision agriculture, small agriculture and turf, construction and forestry, and John Deere Capital. These segments collectively address the diverse needs of customers by providing cutting-edge machinery and comprehensive financial services.
Deere’s production and precision agriculture segment delivers innovative solutions for high-production farming operations, while the small agriculture and turf segment caters to smaller-scale farms and lawn care needs. The construction and forestry division supports large-scale construction and forest management projects with reliable, high-performance equipment. John Deere Capital plays a crucial role by offering retail and wholesale financing solutions, thereby facilitating the purchase of Deere machinery through its extensive dealer network, which includes over 2,000 locations in North America and approximately 3,700 locations globally.
Recent achievements include the launch of the 2024 Startup Collaborator program and the introduction of new Model Year 2025 equipment, enhancing the company’s commitment to innovation and customer satisfaction. John Deere’s financial performance remains strong, with a reported net income of $2.370 billion for the second quarter of 2024 and significant investments in technologies such as the John Deere Autonomous 8R Tractor, See & Spray™, and E-Power Backhoe, designed to meet global demands for food, shelter, and infrastructure.
The company’s strategic vision centers on the Smart Industrial Operating Model, emphasizing the development of advanced solutions that increase productivity and sustainability. Despite fluctuating market conditions, Deere & Company remains focused on disciplined execution and continuous investment in customer-centric innovations to drive future growth and resilience.
Deere & Company (NYSE:DE) announced a $6.6 million three-year unrestricted funding commitment to Feeding America to combat hunger in the United States. The grant aims to address food insecurity affecting over 47 million Americans, including 14 million children. Deere also supports The Farmlink Project, which recently redirected 15 million pounds of surplus apples from farms to food banks. This initiative marks over 40 years of Deere's commitment to food banks, which began during the 1980s farm crisis. The company's broader strategy includes partnerships with the Global Food Banking Network, One Acre Fund, Nature Conservancy, and World Food Program USA.
Deere & Company (NYSE: DE) has scheduled its fourth quarter 2024 earnings call for Thursday, November 21, at 9:00 a.m. central time. The company will discuss its financial and operating performance with analysts, investors, and financial community members. The call will be accessible through www.JohnDeere.com/earnings, where the earnings release, financial information, and presentation materials will also be available. A recording of the call will be accessible on the website for a time afterward.
Deere & Company (NYSE: DE) has appointed PACCAR CEO R. Preston Feight to its board of directors, expanding the board to 12 members. Feight, who has been PACCAR's CEO since July 2019, brings 26 years of experience from the global truck manufacturing company. His expertise spans engineering, manufacturing, aftermarket, and financial services, with a strong focus on advanced technologies including diesel, electric, and hydrogen fuel cell powertrains. Under his leadership, PACCAR has advanced in driver assistance systems and truck connectivity. Prior to becoming CEO, Feight held various leadership positions at PACCAR and previously worked at AlliedSignal and Ford.
Trimble (Nasdaq: TRMB) and John Deere (NYSE: DE) have announced a strategic partnership to accelerate the adoption of grade control technology in the construction industry. This collaboration will make Trimble Earthworks Grade Control technology available on John Deere SmartGrade™ equipped machines, either directly from the factory or as a field upgrade.
The integration aims to simplify the connection between office and field operations, allowing John Deere customers to leverage Trimble's technology ecosystem for increased productivity, efficiency, and better decision-making. Various purchasing options will be available in the future, including as part of the Trimble Construction One suite of digital solutions.
This partnership demonstrates both companies' commitment to promoting machine control technology adoption in construction, enhancing jobsite safety and efficiency while providing customers with more ways to elevate their operations throughout the design-build-operate lifecycle of construction projects.
Tractors and Farm Equipment (TAFE), AGCO 's largest shareholder with a 16.3% stake, has issued an open letter to fellow shareholders outlining concerns about AGCO's performance and governance. TAFE criticizes AGCO's strategic missteps, poor execution, and underperformance compared to peers since Eric Hansotia became Chairman and CEO in 2021. The letter highlights AGCO's -29.97% 1-year TSR and -25.58% 3-year TSR, significantly trailing competitors and relevant indices.
TAFE calls for shareholder-driven boardroom changes, citing issues such as missed market opportunities, unsuccessful acquisitions, and ballooning costs. The letter proposes improvements in capital allocation, risk management, strategy, and corporate governance, including separating the Chair and CEO roles and implementing term limits for independent directors. TAFE suggests forming a Strategic Transformation Committee to oversee a holistic long-term strategy and enhance risk mitigation.
Deere & Company (NYSE: DE) has announced a quarterly dividend of $1.47 per share. The dividend will be payable on November 8, 2024, to stockholders of record as of September 30, 2024. This announcement was made by the company's Board of Directors on August 28, 2024. Deere & Company, commonly known as John Deere, is a leading manufacturer of agricultural, construction, and forestry machinery. This dividend declaration demonstrates the company's commitment to returning value to its shareholders and may indicate confidence in its financial stability and future prospects.
Deere & Company reported third-quarter net income of $1.734 billion, or $6.29 per share, down from $2.978 billion ($10.20 per share) in Q3 2023. Worldwide net sales and revenues decreased 17% to $13.152 billion. Despite challenging conditions in global agricultural and construction sectors, Deere maintains its full-year net income forecast of approximately $7.0 billion.
The company has taken steps to reduce costs and align production with customer needs in response to weak market conditions. Deere's outlook for fiscal 2024 projects decreased sales across all segments, with Production & Precision Ag and Small Ag & Turf both expected to be down 20% to 25%, while Construction & Forestry is projected to be down 10% to 15%.
Deere & Company (NYSE: DE) has announced it will hold its third quarter 2024 earnings call on Thursday, August 15, starting at 9:00 a.m. central time. The call will discuss the company's financial and operating performance with analysts, investors, and other financial community members. Interested parties can access the call at www.JohnDeere.com/earnings, where the recorded call, earnings release, and presentation will also be available afterward.
Deere & Company is a global leader in advanced products, technology, and services for agriculture and construction, serving customers who are revolutionizing these industries to meet the world's growing needs for food, fuel, shelter, and infrastructure.
In response to the devastating floods in Rock Valley, Iowa, John Deere and its employees have rallied to offer support to the affected community. The floods, which have damaged over 500 homes, have also displaced 24 Deere employees. Approximately 15 Deere employees are volunteering in recovery efforts, while another 10 are covering for colleagues who are unable to work. The support includes essential supplies such as bleach, diapers, gloves, pressure washers, and non-perishable food items. John Deere exemplifies values of compassion and solidarity, encouraging donations through verified accounts like Friends of Rock Valley via PayPal or Venmo.
John Deere has announced a two-year, $100,000 commitment to the USO, aimed at supporting military service members and their families. This partnership will enable John Deere employees and customers to assist service members in transitioning to civilian life through mentorship and career planning programs. John Deere has a long history of supporting the military, dating back to World Wars I and II.
The sponsorship will fund several USO initiatives, including the USO Campaign to Connect, Transition Assistance, Mentorship Program, and local USO activities. These programs will offer support and career opportunities to military personnel and their families, reinforcing John Deere's commitment to the well-being of America's service members.
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