Deere & Company (NYSE:DE) Shares Acquired by GAMMA Investing LLC

GAMMA Investing LLC lifted its stake in shares of Deere & Company (NYSE:DE) by 61,215.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,753,022 shares of the industrial products company’s stock after purchasing an additional 1,750,163 shares during the quarter. GAMMA Investing LLC owned about 0.65% of Deere & Company worth $822,781,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Pineridge Advisors LLC boosted its position in shares of Deere & Company by 60.5% in the 4th quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock worth $29,000 after buying an additional 26 shares in the last quarter. YANKCOM Partnership purchased a new stake in shares of Deere & Company in the 4th quarter worth about $34,000. Orion Capital Management LLC purchased a new stake in shares of Deere & Company in the 4th quarter worth about $34,000. Synergy Asset Management LLC purchased a new stake in shares of Deere & Company in the 4th quarter worth about $35,000. Finally, Mascagni Wealth Management Inc. purchased a new stake in shares of Deere & Company in the 4th quarter worth about $39,000. 68.58% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

DE has been the topic of several recent research reports. Argus set a $510.00 price objective on shares of Deere & Company in a research report on Friday, March 7th. BMO Capital Markets reiterated a “market perform” rating and issued a $460.00 price objective (up from $425.00) on shares of Deere & Company in a research report on Wednesday, May 21st. Robert W. Baird boosted their price objective on shares of Deere & Company from $501.00 to $514.00 and gave the stock a “neutral” rating in a research report on Friday, May 16th. Bank of America upped their target price on shares of Deere & Company from $495.00 to $556.00 and gave the company a “neutral” rating in a report on Friday, May 16th. Finally, Morgan Stanley upped their target price on shares of Deere & Company from $450.00 to $500.00 and gave the company an “overweight” rating in a report on Wednesday, April 16th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $516.75.

Deere & Company Trading Down 1.0%

NYSE DE opened at $503.07 on Friday. Deere & Company has a 12 month low of $340.20 and a 12 month high of $533.78. The company has a 50-day moving average of $475.02 and a 200-day moving average of $461.23. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.22 and a quick ratio of 1.98. The company has a market cap of $136.54 billion, a P/E ratio of 22.30, a P/E/G ratio of 2.14 and a beta of 1.08.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, May 15th. The industrial products company reported $6.64 EPS for the quarter, beating analysts’ consensus estimates of $5.72 by $0.92. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. The company had revenue of $11.17 billion during the quarter, compared to the consensus estimate of $10.80 billion. During the same quarter in the prior year, the company posted $8.53 EPS. The company’s quarterly revenue was down 17.9% compared to the same quarter last year. As a group, equities analysts predict that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Monday, June 30th will be given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date of this dividend is Monday, June 30th. Deere & Company’s dividend payout ratio (DPR) is presently 31.35%.

About Deere & Company

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.