Summit Financial LLC Has $1.41 Million Stake in Deere & Company (NYSE:DE)

Summit Financial LLC increased its holdings in shares of Deere & Company (NYSE:DE) by 4.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,524 shares of the industrial products company’s stock after buying an additional 166 shares during the period. Summit Financial LLC’s holdings in Deere & Company were worth $1,414,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Essex Savings Bank raised its stake in shares of Deere & Company by 0.5% during the fourth quarter. Essex Savings Bank now owns 5,367 shares of the industrial products company’s stock worth $2,146,000 after buying an additional 26 shares during the last quarter. Valley National Advisers Inc. increased its stake in Deere & Company by 1.5% in the fourth quarter. Valley National Advisers Inc. now owns 1,879 shares of the industrial products company’s stock valued at $751,000 after purchasing an additional 27 shares in the last quarter. Bleakley Financial Group LLC increased its stake in Deere & Company by 0.5% in the fourth quarter. Bleakley Financial Group LLC now owns 5,158 shares of the industrial products company’s stock valued at $2,063,000 after purchasing an additional 27 shares in the last quarter. Simplicity Solutions LLC increased its stake in Deere & Company by 0.5% in the fourth quarter. Simplicity Solutions LLC now owns 5,158 shares of the industrial products company’s stock valued at $2,063,000 after purchasing an additional 27 shares in the last quarter. Finally, Blue Chip Partners LLC increased its stake in Deere & Company by 2.3% in the fourth quarter. Blue Chip Partners LLC now owns 1,223 shares of the industrial products company’s stock valued at $489,000 after purchasing an additional 27 shares in the last quarter. 68.58% of the stock is owned by institutional investors.

Deere & Company Stock Down 0.2 %

Shares of NYSE:DE traded down $0.84 during midday trading on Thursday, reaching $386.66. The company had a trading volume of 237,264 shares, compared to its average volume of 1,451,303. The company has a quick ratio of 1.81, a current ratio of 2.05 and a debt-to-equity ratio of 1.81. The business’s 50 day moving average price is $389.94 and its 200 day moving average price is $383.76. The stock has a market cap of $107.63 billion, a PE ratio of 11.28, a P/E/G ratio of 1.47 and a beta of 1.04. Deere & Company has a 1-year low of $345.55 and a 1-year high of $450.00.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, February 15th. The industrial products company reported $6.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.19 by $1.04. The business had revenue of $10.49 billion for the quarter, compared to the consensus estimate of $10.30 billion. Deere & Company had a return on equity of 44.60% and a net margin of 16.38%. Deere & Company’s quarterly revenue was down 8.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $6.55 earnings per share. Research analysts forecast that Deere & Company will post 27.37 EPS for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Friday, March 29th will be given a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date of this dividend is Wednesday, March 27th. Deere & Company’s dividend payout ratio (DPR) is presently 17.12%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on DE. Citigroup lowered their target price on shares of Deere & Company from $450.00 to $435.00 and set a “buy” rating for the company in a research note on Friday, February 16th. Stifel Nicolaus lowered their target price on shares of Deere & Company from $435.00 to $425.00 and set a “buy” rating for the company in a research note on Friday, February 16th. Wells Fargo & Company lowered their target price on shares of Deere & Company from $445.00 to $425.00 and set an “overweight” rating for the company in a research note on Friday, February 16th. Melius downgraded shares of Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Deere & Company from $415.00 to $425.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. Ten investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, Deere & Company currently has an average rating of “Hold” and a consensus target price of $433.28.

Deere & Company 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.