Summit Financial Strategies Inc. Purchases 331 Shares of Deere & Company $DE

Summit Financial Strategies Inc. grew its position in Deere & Company (NYSE:DE) by 29.6% during the second quarter, Holdings Channel reports. The institutional investor owned 1,450 shares of the industrial products company’s stock after acquiring an additional 331 shares during the quarter. Summit Financial Strategies Inc.’s holdings in Deere & Company were worth $737,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Asio Capital LLC boosted its holdings in shares of Deere & Company by 5.3% in the 2nd quarter. Asio Capital LLC now owns 475 shares of the industrial products company’s stock valued at $242,000 after buying an additional 24 shares in the last quarter. Kavar Capital Partners Group LLC boosted its stake in Deere & Company by 1.2% in the 2nd quarter. Kavar Capital Partners Group LLC now owns 9,840 shares of the industrial products company’s stock worth $5,004,000 after purchasing an additional 121 shares in the last quarter. Venture Visionary Partners LLC boosted its stake in Deere & Company by 3.3% in the 2nd quarter. Venture Visionary Partners LLC now owns 3,970 shares of the industrial products company’s stock worth $2,019,000 after purchasing an additional 128 shares in the last quarter. Baron Silver Stevens Financial Advisors LLC boosted its stake in Deere & Company by 4.1% in the 2nd quarter. Baron Silver Stevens Financial Advisors LLC now owns 807 shares of the industrial products company’s stock worth $410,000 after purchasing an additional 32 shares in the last quarter. Finally, Archford Capital Strategies LLC acquired a new stake in Deere & Company in the 2nd quarter worth approximately $212,000. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Stock Performance

DE opened at $465.09 on Tuesday. Deere & Company has a 12-month low of $387.03 and a 12-month high of $533.78. The company has a current ratio of 2.19, a quick ratio of 1.98 and a debt-to-equity ratio of 1.76. The firm has a market capitalization of $125.73 billion, a PE ratio of 24.31, a P/E/G ratio of 2.99 and a beta of 1.00. The firm has a 50 day moving average of $489.05 and a two-hundred day moving average of $489.85.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.62 by $0.13. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The company had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.33 billion. During the same period last year, the firm posted $6.29 EPS. Deere & Company’s revenue for the quarter was down 9.0% compared to the same quarter last year. On average, analysts anticipate that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Tuesday, September 30th will be given a dividend of $1.62 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.48 dividend on an annualized basis and a yield of 1.4%. Deere & Company’s dividend payout ratio (DPR) is currently 33.87%.

Analysts Set New Price Targets

A number of research firms recently commented on DE. Robert W. Baird lowered their target price on shares of Deere & Company from $520.00 to $488.00 and set a “neutral” rating for the company in a research note on Friday, August 15th. Truist Financial lowered their target price on shares of Deere & Company from $619.00 to $602.00 and set a “buy” rating for the company in a research note on Friday, August 15th. Daiwa Capital Markets lowered their target price on shares of Deere & Company from $565.00 to $530.00 and set an “outperform” rating for the company in a research note on Thursday, September 25th. DA Davidson lowered their target price on shares of Deere & Company from $595.00 to $580.00 and set a “buy” rating for the company in a research note on Monday, August 18th. Finally, Oppenheimer lowered their target price on shares of Deere & Company from $566.00 to $512.00 and set an “outperform” rating for the company in a research note on Thursday, September 18th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Deere & Company has an average rating of “Moderate Buy” and a consensus target price of $518.06.

Deere & Company Profile

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.