Deere & Company (NYSE:DE) Shares Bought by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC raised its holdings in Deere & Company (NYSE:DEGet Rating) by 0.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 100,299 shares of the industrial products company’s stock after acquiring an additional 729 shares during the period. Gateway Investment Advisers LLC’s holdings in Deere & Company were worth $41,670,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in DE. Royal London Asset Management Ltd. increased its holdings in shares of Deere & Company by 0.4% during the 4th quarter. Royal London Asset Management Ltd. now owns 100,733 shares of the industrial products company’s stock worth $34,547,000 after buying an additional 372 shares during the last quarter. Byrne Asset Management LLC acquired a new stake in shares of Deere & Company during the 1st quarter worth approximately $1,199,000. Mn Services Vermogensbeheer B.V. increased its holdings in shares of Deere & Company by 2.1% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 227,300 shares of the industrial products company’s stock worth $77,939,000 after buying an additional 4,600 shares during the last quarter. Richwood Investment Advisors LLC acquired a new stake in shares of Deere & Company during the 4th quarter worth approximately $185,000. Finally, Accel Wealth Management increased its holdings in shares of Deere & Company by 53.0% during the 4th quarter. Accel Wealth Management now owns 4,364 shares of the industrial products company’s stock worth $1,496,000 after buying an additional 1,511 shares during the last quarter. Institutional investors own 67.35% of the company’s stock.

In related news, insider John H. Stone sold 17,145 shares of the company’s stock in a transaction that occurred on Thursday, May 26th. The shares were sold at an average price of $4,321.07, for a total transaction of $74,084,745.15. Following the completion of the transaction, the insider now owns 21,087 shares of the company’s stock, valued at $91,118,403.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.24% of the company’s stock.

Several analysts recently weighed in on the stock. Cowen started coverage on shares of Deere & Company in a report on Thursday, June 9th. They issued a “market perform” rating and a $396.00 target price for the company. Cowen began coverage on shares of Deere & Company in a research report on Thursday, June 9th. They set a “market perform” rating and a $396.00 price objective for the company. Credit Suisse Group decreased their price objective on shares of Deere & Company from $477.00 to $472.00 and set an “outperform” rating for the company in a research report on Monday, May 23rd. JPMorgan Chase & Co. raised shares of Deere & Company from an “underweight” rating to a “neutral” rating and lifted their price objective for the stock from $355.00 to $440.00 in a research report on Monday, March 28th. Finally, Wells Fargo & Company reduced their price target on shares of Deere & Company from $455.00 to $410.00 and set an “overweight” rating for the company in a research report on Monday, May 23rd. Seven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, Deere & Company currently has an average rating of “Moderate Buy” and an average price target of $429.06.

Shares of NYSE DE traded down $14.46 on Thursday, hitting $303.47. The company’s stock had a trading volume of 53,257 shares, compared to its average volume of 1,447,370. Deere & Company has a 12-month low of $307.64 and a 12-month high of $446.76. The company has a market capitalization of $92.75 billion, a price-to-earnings ratio of 16.58, a price-to-earnings-growth ratio of 1.08 and a beta of 1.02. The company has a debt-to-equity ratio of 1.72, a current ratio of 2.07 and a quick ratio of 1.76. The stock has a 50 day moving average of $367.22 and a 200-day moving average of $375.24.

Deere & Company (NYSE:DEGet Rating) last announced its quarterly earnings results on Friday, May 20th. The industrial products company reported $6.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.71 by $0.10. Deere & Company had a net margin of 12.99% and a return on equity of 33.58%. The company had revenue of $12.03 billion for the quarter, compared to the consensus estimate of $13.16 billion. During the same quarter in the prior year, the firm earned $5.68 earnings per share. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. Sell-side analysts expect that Deere & Company will post 23.27 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 8th. Investors of record on Thursday, June 30th will be paid a dividend of $1.13 per share. This is an increase from Deere & Company’s previous quarterly dividend of $1.05. The ex-dividend date of this dividend is Wednesday, June 29th. This represents a $4.52 annualized dividend and a dividend yield of 1.49%. Deere & Company’s dividend payout ratio is presently 21.91%.

Deere & Company Profile (Get Rating)

Deere & Company manufactures and distributes 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 mid-size tractors, combines, cotton pickers and strippers, sugarcane harvesters, harvesting front-end equipment, sugarcane loaders, 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.

See Also

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

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