Deere & Company $DE Stock: Summit Wealth Group LLC Co. Grows Position

Summit Wealth Group LLC Co. lifted its holdings in shares of Deere & Company (NYSE:DE) by 136.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,577 shares of the industrial products company’s stock after acquiring an additional 1,486 shares during the period. Summit Wealth Group LLC Co.’s holdings in Deere & Company were worth $1,731,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Landaas & Co. WI ADV boosted its stake in Deere & Company by 63.5% in the third quarter. Landaas & Co. WI ADV now owns 649 shares of the industrial products company’s stock valued at $436,000 after acquiring an additional 252 shares in the last quarter. TSG Advice Partners LLC purchased a new position in shares of Deere & Company during the third quarter worth about $206,000. One Way Holdings LLC grew its holdings in shares of Deere & Company by 10.0% during the third quarter. One Way Holdings LLC now owns 430 shares of the industrial products company’s stock worth $289,000 after purchasing an additional 39 shares during the last quarter. Welch Group LLC grew its holdings in shares of Deere & Company by 2.3% during the third quarter. Welch Group LLC now owns 28,771 shares of the industrial products company’s stock worth $19,321,000 after purchasing an additional 652 shares during the last quarter. Finally, Trek Financial LLC increased its position in shares of Deere & Company by 236.6% during the third quarter. Trek Financial LLC now owns 5,412 shares of the industrial products company’s stock worth $3,635,000 after purchasing an additional 3,804 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Price Performance

Shares of DE opened at $667.06 on Tuesday. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.89 and a current ratio of 2.10. Deere & Company has a fifty-two week low of $454.50 and a fifty-two week high of $721.22. The firm has a 50-day simple moving average of $664.16 and a 200-day simple moving average of $605.00. The company has a market capitalization of $179.85 billion, a price-to-earnings ratio of 37.06, a price-to-earnings-growth ratio of 2.34 and a beta of 0.86.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, August 20th. The industrial products company reported $5.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.69 by $0.41. Deere & Company had a return on equity of 18.10% and a net margin of 10.16%. The business had revenue of $12.61 billion for the quarter, compared to analyst estimates of $10.81 billion. During the same quarter in the previous year, the company posted $4.75 earnings per share. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. On average, equities research analysts anticipate that Deere & Company will post 18.11 earnings per share for the current year.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 9th. Investors of record on Wednesday, September 30th will be given a $1.62 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $6.48 dividend on an annualized basis and a yield of 1.0%. Deere & Company’s dividend payout ratio (DPR) is presently 36.00%.

Analysts Set New Price Targets

DE has been the subject of several research reports. Truist Financial reduced their target price on Deere & Company from $812.00 to $804.00 and set a “buy” rating for the company in a report on Monday, August 24th. Weiss Ratings upgraded Deere & Company from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, September 21st. JPMorgan Chase & Co. lifted their price target on Deere & Company from $585.00 to $625.00 and gave the stock a “neutral” rating in a research report on Thursday, October 8th. Raymond James Financial lifted their price target on Deere & Company from $700.00 to $730.00 and gave the stock an “outperform” rating in a research report on Monday, August 31st. Finally, Bank of America boosted their price objective on Deere & Company from $667.00 to $715.00 in a research note on Thursday, September 24th. Seventeen analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $688.10.

Deere & Company Company Profile

Deere & Company, founded by blacksmith John Deere in 1837, is a global manufacturer of agricultural, construction, forestry and turf-care equipment. The company is headquartered in Moline, Illinois, and operates under the John Deere brand.

Its products include tractors, combines, planters, sprayers, harvesting equipment, loaders, excavators, motor graders, forestry machines, mowers and compact utility equipment. Deere also provides replacement parts, equipment support, financing and technology-enabled solutions designed to improve machine productivity, automation and precision in farming and other industries.

Deere serves customers through dealerships and operations across North America, Latin America, Europe and other international markets.