Summit Wealth & Retirement Planning Inc. Takes $287,000 Position in Deere & Company $DE

Summit Wealth & Retirement Planning Inc. acquired a new position in shares of Deere & Company (NYSE:DE) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 565 shares of the industrial products company’s stock, valued at approximately $287,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in DE. Nuveen LLC acquired a new position in shares of Deere & Company in the first quarter valued at approximately $571,073,000. TD Asset Management Inc lifted its position in Deere & Company by 132.0% in the 2nd quarter. TD Asset Management Inc now owns 721,638 shares of the industrial products company’s stock valued at $366,946,000 after acquiring an additional 410,636 shares in the last quarter. Voya Investment Management LLC boosted its stake in Deere & Company by 97.1% in the 1st quarter. Voya Investment Management LLC now owns 733,871 shares of the industrial products company’s stock worth $344,442,000 after purchasing an additional 361,526 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Deere & Company by 4.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,876,013 shares of the industrial products company’s stock worth $3,227,258,000 after purchasing an additional 286,253 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in Deere & Company by 23.4% during the 1st quarter. Invesco Ltd. now owns 1,353,255 shares of the industrial products company’s stock worth $635,150,000 after purchasing an additional 256,806 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Price Performance

NYSE:DE opened at $466.98 on Friday. Deere & Company has a 1-year low of $387.03 and a 1-year 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 fifty day simple moving average of $465.84 and a 200 day simple moving average of $490.08. The stock has a market capitalization of $126.24 billion, a PE ratio of 24.41, a P/E/G ratio of 3.05 and a beta of 1.04.

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 the consensus estimate of $4.62 by $0.13. The firm had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.33 billion. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The company’s quarterly revenue was down 9.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $6.29 earnings per share. On average, research analysts expect that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Tuesday, September 30th will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 1.4%. The ex-dividend date is Tuesday, September 30th. Deere & Company’s dividend payout ratio (DPR) is 33.87%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on DE. Wolfe Research cut their price target on Deere & Company from $550.00 to $520.00 and set an “outperform” rating on the stock in a report on Friday, October 3rd. Truist Financial boosted their target price on Deere & Company from $602.00 to $609.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Royal Bank Of Canada began coverage on shares of Deere & Company in a research note on Wednesday, October 22nd. They set an “outperform” rating and a $542.00 price target for the company. Citigroup cut their price objective on shares of Deere & Company from $525.00 to $515.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 7th. Finally, DA Davidson reduced their target price on shares of Deere & Company from $595.00 to $580.00 and set a “buy” rating for the company in a report on Monday, August 18th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $518.72.

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.