Summit Financial LLC Increases Holdings in Deere & Company (NYSE:DE)

Summit Financial LLC boosted its position in Deere & Company (NYSE:DE) by 59.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,752 shares of the industrial products company’s stock after buying an additional 2,509 shares during the quarter. Summit Financial LLC’s holdings in Deere & Company were worth $2,872,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Wellington Management Group LLP boosted its stake in shares of Deere & Company by 32.0% in the 3rd quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company’s stock valued at $3,068,404,000 after purchasing an additional 1,782,984 shares in the last quarter. Geode Capital Management LLC lifted its stake in Deere & Company by 0.6% in the third quarter. Geode Capital Management LLC now owns 5,208,368 shares of the industrial products company’s stock worth $2,168,737,000 after purchasing an additional 31,459 shares during the last quarter. Norges Bank purchased a new stake in Deere & Company during the fourth quarter valued at about $1,244,094,000. Fisher Asset Management LLC grew its stake in shares of Deere & Company by 8.1% during the fourth quarter. Fisher Asset Management LLC now owns 2,155,613 shares of the industrial products company’s stock valued at $913,334,000 after buying an additional 160,956 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Deere & Company by 5.5% in the fourth quarter. Bank of New York Mellon Corp now owns 2,063,898 shares of the industrial products company’s stock worth $874,473,000 after buying an additional 107,544 shares during the period. 68.58% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on DE shares. Truist Financial restated a “buy” rating and set a $546.00 target price (down from $550.00) on shares of Deere & Company in a report on Friday, February 14th. Robert W. Baird restated a “neutral” rating and issued a $501.00 target price on shares of Deere & Company in a report on Monday, March 3rd. StockNews.com upgraded shares of Deere & Company from a “sell” rating to a “hold” rating in a report on Saturday. Baird R W lowered shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, March 3rd. Finally, Oppenheimer upped their price objective on shares of Deere & Company from $477.00 to $507.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. Fourteen research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $460.00.

Deere & Company Stock Performance

Shares of DE stock opened at $470.31 on Tuesday. The company’s fifty day moving average price is $477.56 and its 200-day moving average price is $440.70. The stock has a market cap of $127.65 billion, a PE ratio of 20.85, a price-to-earnings-growth ratio of 2.14 and a beta of 1.01. The company has a current ratio of 2.22, a quick ratio of 1.98 and a debt-to-equity ratio of 1.94. Deere & Company has a 12 month low of $340.20 and a 12 month high of $515.05.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, February 13th. The industrial products company reported $3.19 EPS for the quarter, topping the consensus estimate of $3.14 by $0.05. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. On average, equities analysts expect that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 8th. Investors of record on Monday, March 31st will be given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date of this dividend is Monday, March 31st. Deere & Company’s dividend payout ratio (DPR) is presently 28.72%.

Insider Buying and Selling at Deere & Company

In other Deere & Company news, insider Rajesh Kalathur sold 24,580 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $500.61, for a total transaction of $12,304,993.80. Following the completion of the sale, the insider now directly owns 74,878 shares in the company, valued at approximately $37,484,675.58. This trade represents a 24.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.29% of the stock is owned by company insiders.

About Deere & Company

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.