Summit Trail Advisors LLC Purchases 447 Shares of Deere & Company (NYSE:DE)

Summit Trail Advisors LLC increased its position in Deere & Company (NYSE:DE) by 7.0% in the second quarter, HoldingsChannel reports. The firm owned 6,822 shares of the industrial products company’s stock after purchasing an additional 447 shares during the quarter. Summit Trail Advisors LLC’s holdings in Deere & Company were worth $2,559,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in DE. Vanguard Group Inc. increased its stake in shares of Deere & Company by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 21,988,363 shares of the industrial products company’s stock worth $9,031,500,000 after acquiring an additional 263,709 shares in the last quarter. Janus Henderson Group PLC raised its stake in Deere & Company by 0.5% during the first quarter. Janus Henderson Group PLC now owns 3,859,021 shares of the industrial products company’s stock valued at $1,585,028,000 after buying an additional 19,200 shares during the last quarter. Parnassus Investments LLC boosted its holdings in Deere & Company by 22.4% in the fourth quarter. Parnassus Investments LLC now owns 3,856,171 shares of the industrial products company’s stock worth $1,541,967,000 after acquiring an additional 705,771 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Deere & Company by 15.0% in the second quarter. Dimensional Fund Advisors LP now owns 2,146,441 shares of the industrial products company’s stock worth $802,037,000 after acquiring an additional 279,627 shares during the last quarter. Finally, Fisher Asset Management LLC increased its holdings in shares of Deere & Company by 11.3% during the fourth quarter. Fisher Asset Management LLC now owns 1,481,458 shares of the industrial products company’s stock valued at $592,391,000 after acquiring an additional 150,713 shares in the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft dropped their price target 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. Oppenheimer lowered their price target on Deere & Company from $465.00 to $448.00 and set an “outperform” rating on the stock in a report on Monday, July 22nd. JPMorgan Chase & Co. reduced their price objective on Deere & Company from $375.00 to $360.00 and set a “neutral” rating for the company in a report on Tuesday, August 13th. BMO Capital Markets initiated coverage on shares of Deere & Company in a research note on Friday, August 9th. They set a “market perform” rating and a $400.00 target price on the stock. Finally, Truist Financial restated a “buy” rating and issued a $443.00 target price (up previously from $439.00) on shares of Deere & Company in a report on Friday, August 16th. Fourteen investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $409.88.

Deere & Company Stock Performance

Deere & Company stock opened at $405.89 on Friday. The company’s 50-day moving average price is $376.24 and its 200-day moving average price is $382.66. The company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 1.85. The company has a market cap of $111.85 billion, a PE ratio of 12.22, a price-to-earnings-growth ratio of 1.29 and a beta of 0.92. Deere & Company has a twelve month low of $340.20 and a twelve month high of $417.46.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, topping the consensus estimate of $5.63 by $0.66. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The company had revenue of $11.39 billion for the quarter, compared to analysts’ expectations of $10.94 billion. During the same period in the previous year, the firm posted $10.20 earnings per share. The firm’s revenue for the quarter was down 20.3% on a year-over-year basis. On average, equities research analysts forecast that Deere & Company will post 25.07 EPS 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 paid a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a yield of 1.45%. The ex-dividend date is Monday, September 30th. Deere & Company’s payout ratio is 17.70%.

Insider Transactions at Deere & Company

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

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.