Gateway Investment Advisers LLC Sells 59 Shares of Deere & Company (NYSE:DE)

Gateway Investment Advisers LLC decreased its stake in Deere & Company (NYSE:DEFree Report) by 0.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 72,427 shares of the industrial products company’s stock after selling 59 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Deere & Company were worth $29,749,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Tompkins Financial Corp raised its position in shares of Deere & Company by 2.6% during the first quarter. Tompkins Financial Corp now owns 981 shares of the industrial products company’s stock worth $403,000 after purchasing an additional 25 shares during the period. Essex Savings Bank raised its position in shares of Deere & Company by 0.5% during the fourth quarter. Essex Savings Bank now owns 5,367 shares of the industrial products company’s stock worth $2,146,000 after purchasing an additional 26 shares during the period. Valley National Advisers Inc. raised its position in Deere & Company by 1.5% in the 4th quarter. Valley National Advisers Inc. now owns 1,879 shares of the industrial products company’s stock valued at $751,000 after buying an additional 27 shares during the last quarter. Bleakley Financial Group LLC raised its position in Deere & Company by 0.5% in the 4th quarter. Bleakley Financial Group LLC now owns 5,158 shares of the industrial products company’s stock valued at $2,063,000 after buying an additional 27 shares during the last quarter. Finally, Simplicity Solutions LLC raised its position in Deere & Company by 0.5% in the 4th quarter. Simplicity Solutions LLC now owns 5,158 shares of the industrial products company’s stock valued at $2,063,000 after buying an additional 27 shares during the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Performance

DE traded down $9.61 during trading on Tuesday, hitting $368.56. The stock had a trading volume of 564,790 shares, compared to its average volume of 1,458,145. The firm has a market cap of $101.56 billion, a price-to-earnings ratio of 11.38, a P/E/G ratio of 1.51 and a beta of 0.98. The company has a debt-to-equity ratio of 1.81, a current ratio of 2.01 and a quick ratio of 1.80. The company has a 50 day moving average price of $387.23 and a 200-day moving average price of $387.04. Deere & Company has a one year low of $353.15 and a one year high of $450.00.

Deere & Company (NYSE:DEGet Free Report) last announced its quarterly earnings data on Thursday, May 16th. The industrial products company reported $8.53 earnings per share for the quarter, beating the consensus estimate of $7.86 by $0.67. The firm had revenue of $13.61 billion during the quarter, compared to analysts’ expectations of $13.29 billion. Deere & Company had a return on equity of 42.26% and a net margin of 16.15%. The company’s quarterly revenue was down 15.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $9.65 EPS. As a group, research analysts predict that Deere & Company will post 25.61 EPS for the current year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 8th. Shareholders of record on Friday, June 28th will be issued a $1.47 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $5.88 annualized dividend and a yield of 1.60%. Deere & Company’s dividend payout ratio is presently 17.70%.

Wall Street Analysts Forecast Growth

DE has been the subject of a number of analyst reports. Daiwa Capital Markets raised their price target on Deere & Company from $400.00 to $420.00 and gave the company an “overweight” rating in a research note on Wednesday, May 15th. Stifel Nicolaus raised their price target on Deere & Company from $425.00 to $450.00 and gave the company a “buy” rating in a research note on Friday, May 17th. Morgan Stanley raised their price target on Deere & Company from $430.00 to $450.00 in a research note on Wednesday, May 15th. Truist Financial initiated coverage on Deere & Company in a research note on Thursday, March 14th. They issued a “buy” rating and a $494.00 price target for the company. Finally, Oppenheimer reiterated an “outperform” rating and set a $456.00 target price on shares of Deere & Company in a research note on Thursday, May 16th. Ten equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $433.36.

Read Our Latest Stock Report on Deere & Company

Deere & Company Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Deere & Company (NYSE:DE)

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