490 Shares in Deere & Company $DE Purchased by Summa Corp.

Summa Corp. acquired a new position in Deere & Company (NYSE:DE) during the second quarter, according to its most recent 13F filing with the SEC. The firm acquired 490 shares of the industrial products company’s stock, valued at approximately $249,000.

Other hedge funds have also modified their holdings of the company. Activest Wealth Management boosted its position in Deere & Company by 2,750.0% during the 1st quarter. Activest Wealth Management now owns 57 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 55 shares during the period. Hughes Financial Services LLC acquired a new position in Deere & Company during the first quarter valued at $29,000. Cornerstone Planning Group LLC lifted its stake in Deere & Company by 116.1% in the 1st quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 36 shares in the last quarter. Marshall & Sullivan Inc. WA acquired a new position in Deere & Company in the 2nd quarter worth about $38,000. Finally, Livelsberger Financial Advisory acquired a new position in Deere & Company in the 2nd quarter worth about $39,000. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Oppenheimer lowered their target price on Deere & Company from $566.00 to $512.00 and set an “outperform” rating on the stock in a report on Thursday, September 18th. Robert W. Baird dropped their target price on Deere & Company from $520.00 to $488.00 and set a “neutral” rating for the company in a research report on Friday, August 15th. Jefferies Financial Group dropped their price objective on Deere & Company from $510.00 to $440.00 and set a “hold” rating for the company in a report on Wednesday. Evercore ISI set a $491.00 price target on Deere & Company in a report on Tuesday, August 19th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Deere & Company in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $513.88.

Deere & Company Stock Down 2.1%

Shares of DE opened at $446.76 on Friday. The company has a market capitalization of $120.77 billion, a PE ratio of 23.35, a PEG ratio of 2.87 and a beta of 1.02. Deere & Company has a 12 month low of $387.03 and a 12 month high of $533.78. The stock’s 50-day moving average price is $479.15 and its two-hundred day moving average price is $488.39. The company has a current ratio of 2.19, a quick ratio of 1.98 and a debt-to-equity ratio of 1.76.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.62 by $0.13. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The company had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.33 billion. During the same period in the previous year, the business earned $6.29 EPS. The firm’s revenue 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 Dividend Announcement

The company also recently disclosed 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. The ex-dividend date is Tuesday, September 30th. This represents a $6.48 annualized dividend and a yield of 1.5%. Deere & Company’s dividend payout ratio is presently 33.87%.

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.