Summit Trail Advisors LLC Purchases 447 Shares of Deere & Company (NYSE:DE)

Summit Trail Advisors LLC raised its stake in Deere & Company (NYSE:DE) by 7.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,822 shares of the industrial products company’s stock after purchasing an additional 447 shares during the quarter. Summit Trail Advisors LLC’s holdings in Deere & Company were worth $2,559,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Oppenheimer Asset Management Inc. lifted its stake in Deere & Company by 20.5% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 15,808 shares of the industrial products company’s stock valued at $5,906,000 after acquiring an additional 2,692 shares in the last quarter. Harbor Investment Advisory LLC lifted its position in shares of Deere & Company by 27.4% during the first quarter. Harbor Investment Advisory LLC now owns 1,730 shares of the industrial products company’s stock valued at $710,000 after purchasing an additional 372 shares in the last quarter. Brevan Howard Capital Management LP boosted its holdings in Deere & Company by 857.9% during the fourth quarter. Brevan Howard Capital Management LP now owns 7,654 shares of the industrial products company’s stock worth $3,061,000 after purchasing an additional 6,855 shares during the last quarter. Aviance Capital Partners LLC purchased a new position in Deere & Company during the first quarter worth about $2,783,000. Finally, Oxford Financial Group LTD. LLC grew its position in Deere & Company by 2.9% in the 4th quarter. Oxford Financial Group LTD. LLC now owns 1,827 shares of the industrial products company’s stock worth $731,000 after purchasing an additional 51 shares in the last quarter. Institutional investors own 68.58% of the company’s stock.

Deere & Company Price Performance

Shares of Deere & Company stock opened at $405.89 on Friday. The firm has a market capitalization of $111.85 billion, a PE ratio of 12.22, a price-to-earnings-growth ratio of 1.29 and a beta of 0.92. The company has a current ratio of 2.07, a quick ratio of 1.87 and a debt-to-equity ratio of 1.85. Deere & Company has a 12 month low of $340.20 and a 12 month high of $417.46. The business’s 50-day moving average price is $376.24 and its 200-day moving average price is $382.66.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, beating the consensus estimate of $5.63 by $0.66. The company had revenue of $11.39 billion for the quarter, compared to analyst estimates of $10.94 billion. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The firm’s quarterly revenue was down 20.3% compared to the same quarter last year. During the same quarter last year, the firm earned $10.20 EPS. Sell-side analysts forecast that Deere & Company will post 25.07 EPS for the current fiscal year.

Deere & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, September 30th will be paid a $1.47 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a yield of 1.45%. Deere & Company’s dividend payout ratio (DPR) is currently 17.70%.

Insider Activity

In related news, insider Cory J. Reed sold 13,370 shares of the firm’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $377.63, for a total value of $5,048,913.10. Following the sale, the insider now directly owns 41,642 shares of the company’s stock, valued at $15,725,268.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on DE. Hsbc Global Res cut shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 19th. Deutsche Bank Aktiengesellschaft decreased their target price on Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a research report on Thursday, August 8th. Citigroup decreased their price target on shares of Deere & Company from $395.00 to $370.00 and set a “neutral” rating for the company in a research note on Tuesday, August 13th. HSBC cut Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, August 19th. Finally, Evercore ISI increased their target price on shares of Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a research report on Monday, August 19th. Fourteen equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, Deere & Company currently has an average rating of “Hold” and a consensus price target of $409.88.

Deere & Company Company Profile

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.