1,486 Deere & Company $DE Shares Purchased by Summit Wealth Group LLC Co.

Summit Wealth Group LLC Co. increased its stake in shares of Deere & Company (NYSE:DE) by 136.2% during the third quarter, Holdings Channel reports. 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.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Landaas & Co. WI ADV increased its holdings 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 buying an additional 252 shares in the last quarter. TSG Advice Partners LLC purchased a new stake in shares of Deere & Company during the 3rd quarter worth approximately $206,000. One Way Holdings LLC boosted its stake in shares of Deere & Company by 10.0% during the 3rd quarter. One Way Holdings LLC now owns 430 shares of the industrial products company’s stock worth $289,000 after acquiring an additional 39 shares in the last quarter. Welch Group LLC boosted its stake in shares of Deere & Company by 2.3% during the 3rd quarter. Welch Group LLC now owns 28,771 shares of the industrial products company’s stock worth $19,321,000 after acquiring an additional 652 shares in the last quarter. Finally, Trek Financial LLC grew its holdings in shares of Deere & Company by 236.6% in the 3rd quarter. Trek Financial LLC now owns 5,412 shares of the industrial products company’s stock worth $3,635,000 after acquiring an additional 3,804 shares during the period. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

DE has been the subject of a number of research analyst reports. Raymond James Financial raised their price target on Deere & Company from $700.00 to $730.00 and gave the company an “outperform” rating in a research report on Monday, August 31st. Barclays boosted their price objective on shares of Deere & Company from $640.00 to $675.00 and gave the stock an “overweight” rating in a research report on Monday, August 24th. Bank of America increased their price objective on shares of Deere & Company from $667.00 to $715.00 in a research note on Thursday, September 24th. Oppenheimer increased their price objective on shares of Deere & Company from $680.00 to $685.00 and gave the company an “outperform” rating in a research note on Thursday, August 20th. Finally, CICC Research assumed coverage on shares of Deere & Company in a report on Sunday, September 13th. They set an “outperform” rating for the company. Seventeen investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, Deere & Company has an average rating of “Moderate Buy” and a consensus target price of $688.10.

Deere & Company Stock Performance

Deere & Company stock opened at $667.06 on Tuesday. The stock has a fifty day moving average price of $664.16 and a 200 day moving average price of $605.00. Deere & Company has a 52 week low of $454.50 and a 52 week high of $721.22. The firm has a market capitalization of $179.85 billion, a P/E ratio of 37.06, a PEG ratio of 2.34 and a beta of 0.86. The company has a current ratio of 2.10, a quick ratio of 1.89 and a debt-to-equity ratio of 1.45.

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. The firm had revenue of $12.61 billion during the quarter, compared to the consensus estimate of $10.81 billion. Deere & Company had a net margin of 10.16% and a return on equity of 18.10%. Deere & Company’s revenue was up 6.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.75 earnings per share. Equities research analysts anticipate that Deere & Company will post 18.11 earnings per share for the current year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 9th. Shareholders of record on Wednesday, September 30th will be issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Wednesday, September 30th. Deere & Company’s dividend payout ratio is currently 36.00%.

Deere & 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.