Summitry LLC Sells 25 Shares of Deere & Company (NYSE:DE)

Summitry LLC lowered its position in shares of Deere & Company (NYSE:DE) by 3.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 773 shares of the industrial products company’s stock after selling 25 shares during the quarter. Summitry LLC’s holdings in Deere & Company were worth $328,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Murphy & Mullick Capital Management Corp bought a new position in shares of Deere & Company during the 4th quarter worth approximately $878,000. Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of Deere & Company by 0.7% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 178,456 shares of the industrial products company’s stock valued at $75,612,000 after acquiring an additional 1,234 shares during the period. Ashton Thomas Securities LLC boosted its stake in Deere & Company by 10.0% during the fourth quarter. Ashton Thomas Securities LLC now owns 747 shares of the industrial products company’s stock worth $317,000 after acquiring an additional 68 shares in the last quarter. Modern Wealth Management LLC grew its holdings in Deere & Company by 5.1% in the fourth quarter. Modern Wealth Management LLC now owns 3,779 shares of the industrial products company’s stock worth $1,776,000 after purchasing an additional 184 shares during the period. Finally, CoreFirst Bank & Trust acquired a new stake in Deere & Company in the fourth quarter worth $592,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Stock Performance

Shares of DE stock opened at $479.70 on Wednesday. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.98 and a current ratio of 2.22. The firm has a market cap of $130.20 billion, a price-to-earnings ratio of 21.26, a P/E/G ratio of 2.14 and a beta of 1.01. Deere & Company has a 52 week low of $340.20 and a 52 week high of $515.05. The firm’s 50-day simple moving average is $475.21 and its two-hundred day simple moving average is $438.25.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, February 13th. The industrial products company reported $3.19 EPS for the quarter, topping analysts’ consensus estimates of $3.14 by $0.05. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. As a group, equities analysts forecast that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 8th. Stockholders of record on Monday, March 31st will be given a dividend of $1.62 per share. The ex-dividend date is Monday, March 31st. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.35%. Deere & Company’s dividend payout ratio is presently 28.72%.

Insider Buying and Selling

In related news, insider Rajesh Kalathur sold 24,580 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $500.61, for a total transaction of $12,304,993.80. Following the sale, the insider now directly owns 74,878 shares in the company, valued at approximately $37,484,675.58. This represents a 24.71 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.29% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

DE has been the topic of several research reports. Argus set a $510.00 price objective on shares of Deere & Company in a report on Friday, March 7th. Oppenheimer upped their price target on Deere & Company from $477.00 to $507.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Robert W. Baird reissued a “neutral” rating and issued a $501.00 price objective on shares of Deere & Company in a research note on Monday, March 3rd. Truist Financial reaffirmed a “buy” rating and set a $546.00 target price (down from $550.00) on shares of Deere & Company in a research report on Friday, February 14th. Finally, Jefferies Financial Group downgraded shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price target for the company. in a research report on Friday, December 6th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Deere & Company presently has an average rating of “Hold” and a consensus price target of $460.00.

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.