Stock Alert: Deere & Co. Shares Hit New 52-Week High

(RTTNews) - Shares of Deere & Co. (DE) reached a new 52-week high of $201.31 Friday morning, after the company reported upbeat Q3 results. DE is currently trading at $201.04, up $9.94 or 5.20% in the regular session.

The company's Q3 net income was $811 million or $2.57 per share compared to $899 million, or $2.81 per share last year.

Revenue for the quarter fell 12.4% to $7.86 billion from $8.97 billion last year.

Analysts polled by Thomson Reuters expected earnings of $1.26 per share on revenue of $ 6.7 billion for the quarter. Analysts' estimate typically exclude certain special items.

"With outstanding support from our dedicated global workforce and dealer organization, John Deere delivered a strong performance in the third quarter in the face of a serious global pandemic and uncertain market conditions," said John May, chairman and chief executive officer.

For the full year, the company expects net income to be about $2.25 billion.