Deere & Company (NYSE:DE) Shares Purchased by Summit Financial LLC

Summit Financial LLC grew its stake in shares of Deere & Company (NYSE:DE) by 20.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,874 shares of the industrial products company’s stock after acquiring an additional 663 shares during the quarter. Summit Financial LLC’s holdings in Deere & Company were worth $1,453,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Tompkins Financial Corp increased its holdings in Deere & Company by 2.6% in the 1st quarter. Tompkins Financial Corp now owns 981 shares of the industrial products company’s stock worth $403,000 after buying an additional 25 shares during the period. Global Retirement Partners LLC increased its holdings in Deere & Company by 0.7% in the 1st quarter. Global Retirement Partners LLC now owns 3,768 shares of the industrial products company’s stock worth $1,548,000 after buying an additional 26 shares during the period. Field & Main Bank increased its holdings in Deere & Company by 0.7% in the 1st quarter. Field & Main Bank now owns 4,050 shares of the industrial products company’s stock worth $1,663,000 after buying an additional 27 shares during the period. Range Financial Group LLC increased its holdings in Deere & Company by 5.2% in the 1st quarter. Range Financial Group LLC now owns 548 shares of the industrial products company’s stock worth $225,000 after buying an additional 27 shares during the period. Finally, Cooper Financial Group increased its holdings in Deere & Company by 2.4% in the 1st quarter. Cooper Financial Group now owns 1,146 shares of the industrial products company’s stock worth $471,000 after buying an additional 27 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.

Insider Buying and Selling at Deere & Company

In other Deere & Company news, insider Cory J. Reed sold 13,370 shares of the firm’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $377.63, for a total value of $5,048,913.10. Following the completion of the sale, the insider now directly owns 41,642 shares of the company’s stock, valued at approximately $15,725,268.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.26% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on DE. Stifel Nicolaus increased their price target on shares of Deere & Company from $425.00 to $450.00 and gave the stock a “buy” rating in a report on Friday, May 17th. Truist Financial reiterated a “buy” rating and issued a $443.00 price target (up previously from $439.00) on shares of Deere & Company in a report on Friday, August 16th. Oppenheimer dropped their price objective on shares of Deere & Company from $465.00 to $448.00 and set an “outperform” rating on the stock in a research note on Monday, July 22nd. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a research note on Thursday, August 8th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Deere & Company from $375.00 to $360.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 13th. Fourteen research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Deere & Company has an average rating of “Hold” and a consensus target price of $414.11.

Deere & Company Trading Up 1.0 %

Shares of DE stock opened at $385.74 on Monday. The stock’s fifty day moving average is $367.94 and its two-hundred day moving average is $379.78. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.87 and a current ratio of 2.07. The firm has a market capitalization of $106.30 billion, a P/E ratio of 11.61, a PEG ratio of 1.28 and a beta of 0.93. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $423.35.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, beating analysts’ consensus estimates of $5.63 by $0.66. The company had revenue of $11.39 billion for the quarter, compared to analyst estimates of $10.94 billion. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The firm’s revenue for the quarter was down 20.3% on a year-over-year basis. During the same quarter last year, the firm posted $10.20 EPS. Research analysts expect that Deere & Company will post 25.09 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, September 30th will be issued a $1.47 dividend. The ex-dividend date is Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a yield of 1.52%. Deere & Company’s payout ratio is currently 17.70%.

Deere & Company Profile

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.