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Deere & Company - DE STOCK NEWS

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.

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On May 25, 2022, Deere & Company (NYSE: DE) announced a quarterly dividend increase to $1.13 per share, payable on August 8, 2022. This marks an 8% increase from the previous dividend rate, reflecting the company's strong performance and confidence in future growth, according to CEO John C. May. Shareholders of record by June 30, 2022 will receive this dividend. However, forward-looking statements in the release highlight potential risks linked to economic conditions and geopolitical uncertainties that could impact financial outcomes.

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Deere & Company (NYSE: DE) reported a 17% increase in net income to $2.098 billion for Q2 2022, with earnings of $6.81 per share, compared to $1.790 billion or $5.68 per share in Q2 2021. Net sales rose 11% to $13.370 billion, driven by strong demand despite supply chain challenges. The company raised its full-year earnings forecast to $7.0-$7.4 billion, including a $220 million gain from special items. Outlook remains positive for agriculture equipment demand, despite inflationary pressures.

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The John Deere Foundation has announced a $1 million donation to the World Food Program USA to combat global food insecurity, largely aggravated by the Ukraine crisis. The grant is split equally, with half supporting the humanitarian efforts of the UN World Food Programme and the other half aimed at scaling innovations for zero hunger. This follows previous contributions of $250,000 in 2022 and $500,000 in 2021. John Deere's support has positively impacted the lives of 9 million people, including 2.2 million smallholder farmers, highlighting the company's commitment to addressing hunger.

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Deere & Company (NYSE: DE) has announced a multi-year charitable partnership with golfer Daniel Berger, committing $100,000 to support various charitable organizations instead of a traditional win bonus. Berger will showcase a John Deere branded golf bag during his debut at The Masters and will participate in the John Deere Classic, scheduled for June 27-July 3. This partnership underlines both parties' dedication to giving back to the community and enhancing the sport of golf.

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John Deere (NYSE: DE) announced enhancements to its Customer Service ADVISOR tool, enabling customers and independent repair shops in the U.S. to purchase it directly from JohnDeereStore.com in May 2023. This tool will allow users to remotely download secure software updates to embedded controllers, improving self-repair capabilities. John Deere aims to provide more autonomy and uptime for equipment owners, reflecting its commitment to innovation and customer support. The expanded accessibility will empower customers to manage their equipment more effectively.

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On February 28, 2022, John Deere (NYSE: DE) announced its acquisition of full ownership of three Deere-Hitachi joint venture factories. This marks the end of the joint venture manufacturing and marketing agreements with Hitachi Construction Machinery, initially announced in August 2021. The factories will now produce only Deere-branded construction excavators and forestry equipment, discontinuing Hitachi-branded products. Deere aims to leverage this acquisition to enhance its product capabilities and respond more rapidly to customer needs.

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Deere expands its U.S. technology operations by opening a new office in Austin, Texas. This hub will focus on attracting talent such as data scientists and engineers to drive innovation aimed at improving farming profitability and sustainability. The location provides access to regional universities and startups, enhancing collaboration within the tech community. Deere's move is strategic for accessing a diverse talent pool and aligns with its mission to use technology for solving global agricultural challenges.

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The Deere & Company (NYSE: DE) Board of Directors has declared a quarterly dividend of $1.05 per share on common stock. This dividend will be payable on May 9, 2022, to stockholders of record as of March 31, 2022. This announcement reflects the company's commitment to returning value to its investors while maintaining stable cash flows.

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Deere & Company (NYSE:DE) reported a net income of $903 million for Q1 2022, down 26% from $1.224 billion in Q1 2021. Despite this, net sales rose 5% to $9.569 billion, driven by solid equipment operations. The company raised its fiscal 2022 earnings forecast to $6.7 to $7.1 billion. Challenges included higher production costs from a UAW contract and ongoing supply chain issues. New goals were set under the Smart Industrial strategy, aimed at enhancing economic value and sustainability for stakeholders. Financial services net income increased by 13% to $231 million.

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Deere & Company (NYSE: DE) has completed its acquisition of a majority stake in Kreisel Electric Inc., noted for its advanced immersion-cooled battery technology. This strategic move, announced in December 2021, is expected to enhance Deere's capabilities in high-density electric battery modules and charging infrastructure. Kreisel Electric, based in Austria, continues to operate under its brand, employing around 180 people. This acquisition aligns with Deere’s commitment to innovation in agriculture and construction sectors.

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FAQ

What is the current stock price of Deere & Company (DE)?

The current stock price of Deere & Company (DE) is $432.84 as of December 24, 2024.

What is the market cap of Deere & Company (DE)?

The market cap of Deere & Company (DE) is approximately 117.5B.

What does Deere & Company specialize in?

Deere & Company, also known as John Deere, specializes in manufacturing agricultural machinery, heavy equipment, forestry machinery, diesel engines, and lawn care equipment.

What are the main segments of Deere & Company?

Deere & Company's main segments are production and precision agriculture, small agriculture and turf, construction and forestry, and John Deere Capital.

How does John Deere support its customers financially?

John Deere supports its customers with retail and wholesale financing solutions through its financial services arm, John Deere Capital.

Where can I find John Deere products?

John Deere products are available through an extensive dealer network, including over 2,000 locations in North America and approximately 3,700 locations globally.

What recent innovations has John Deere introduced?

Recent innovations by John Deere include the John Deere Autonomous 8R Tractor, See & Spray™, and E-Power Backhoe, designed to enhance productivity and sustainability.

How did Deere & Company perform financially in recent quarters?

For the second quarter of 2024, Deere & Company reported a net income of $2.370 billion. The company continues to invest in advanced technologies and innovative solutions.

What is the Smart Industrial Operating Model?

The Smart Industrial Operating Model is Deere & Company's strategic approach to developing advanced, customer-centric solutions that enhance productivity and sustainability across their operations.

What is the significance of John Deere's Startup Collaborator program?

The Startup Collaborator program, launched in 2019, aims to enhance Deere's interaction with startup companies whose technology could add value for agriculture and construction customers.

What is John Deere’s approach to innovation?

John Deere focuses on developing advanced, technology-enabled products that push the boundaries of productivity and sustainability, meeting the increasing global needs for food, shelter, and infrastructure.

How can I access John Deere’s earnings calls?

John Deere's earnings calls can be accessed at www.JohnDeere.com/earnings. The recorded calls and related financial information are also available on the Deere website.

Deere & Company

NYSE:DE

DE Rankings

DE Stock Data

117.55B
271.01M
0.17%
80.29%
1.96%
Farm & Heavy Construction Machinery
Farm Machinery & Equipment
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United States of America
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