Summit Trail Advisors LLC Reduces Stock Holdings in Deere & Company (NYSE:DE)

Summit Trail Advisors LLC lowered its position in Deere & Company (NYSE:DE) by 3.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,573 shares of the industrial products company’s stock after selling 249 shares during the quarter. Summit Trail Advisors LLC’s holdings in Deere & Company were worth $2,753,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in DE. Oppenheimer Asset Management Inc. boosted its stake in shares of Deere & Company by 20.5% during the second 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 during the last quarter. Chase Investment Counsel Corp boosted its stake in shares of Deere & Company by 53.8% during the third quarter. Chase Investment Counsel Corp now owns 4,000 shares of the industrial products company’s stock valued at $1,669,000 after acquiring an additional 1,400 shares during the last quarter. Balentine LLC acquired a new stake in shares of Deere & Company during the third quarter valued at $710,000. Royal Fund Management LLC boosted its stake in shares of Deere & Company by 99.8% during the third quarter. Royal Fund Management LLC now owns 6,454 shares of the industrial products company’s stock valued at $2,694,000 after acquiring an additional 3,223 shares during the last quarter. Finally, New Century Financial Group LLC acquired a new stake in shares of Deere & Company during the third quarter valued at $1,052,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on DE shares. HSBC lowered Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, August 19th. Bank of America raised their price target on Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a research note on Friday, August 16th. Morgan Stanley dropped their target price on Deere & Company from $450.00 to $425.00 and set an “overweight” rating on the stock in a report on Monday, August 26th. BMO Capital Markets assumed coverage on Deere & Company in a report on Friday, August 9th. They set a “market perform” rating and a $400.00 target price on the stock. Finally, Citigroup raised their target price on Deere & Company from $395.00 to $420.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Thirteen investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, Deere & Company presently has a consensus rating of “Hold” and a consensus price target of $431.61.

Deere & Company Stock Performance

DE stock opened at $446.65 on Friday. The company has a current ratio of 2.09, a quick ratio of 1.87 and a debt-to-equity ratio of 1.89. The firm has a market cap of $122.20 billion, a P/E ratio of 17.45, a P/E/G ratio of 1.70 and a beta of 0.93. Deere & Company has a 12-month low of $340.20 and a 12-month high of $447.50. The stock’s 50 day simple moving average is $406.99 and its 200 day simple moving average is $386.36.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, topping analysts’ consensus estimates of $3.90 by $0.65. The firm had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.20 billion. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The firm’s revenue was down 32.8% on a year-over-year basis. During the same period in the prior year, the business earned $8.26 EPS. As a group, equities research analysts predict that Deere & Company will post 21.41 EPS for the current year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Monday, September 30th were paid a dividend of $1.47 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a yield of 1.32%. Deere & Company’s payout ratio is currently 22.97%.

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.