Gateway Investment Advisers LLC Has $39.23 Million Stake in Deere & Company $DE

Gateway Investment Advisers LLC decreased its holdings in shares of Deere & Company (NYSE:DE) by 5.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 77,148 shares of the industrial products company’s stock after selling 4,808 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Deere & Company were worth $39,229,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of DE. Activest Wealth Management grew its holdings in Deere & Company by 2,750.0% during the first quarter. Activest Wealth Management now owns 57 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 55 shares during the period. Hughes Financial Services LLC acquired a new position in Deere & Company during the first quarter valued at approximately $29,000. Cornerstone Planning Group LLC grew its holdings in Deere & Company by 116.1% during the first quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 36 shares during the period. Orion Capital Management LLC acquired a new position in Deere & Company during the fourth quarter valued at approximately $34,000. Finally, Mascagni Wealth Management Inc. acquired a new position in Deere & Company during the fourth quarter valued at approximately $39,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on DE shares. DA Davidson decreased their price objective on shares of Deere & Company from $595.00 to $580.00 and set a “buy” rating for the company in a report on Monday, August 18th. BMO Capital Markets restated a “market perform” rating and set a $460.00 price objective (up previously from $425.00) on shares of Deere & Company in a report on Wednesday, May 21st. Melius Research upgraded shares of Deere & Company from a “hold” rating to a “strong-buy” rating in a report on Friday, June 6th. Citigroup decreased their price objective on shares of Deere & Company from $550.00 to $525.00 and set a “neutral” rating for the company in a report on Friday, May 30th. Finally, Oppenheimer lifted their price target on shares of Deere & Company from $560.00 to $566.00 and gave the company an “outperform” rating in a research note on Friday, August 15th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $520.87.

Deere & Company Stock Performance

Shares of DE stock opened at $468.62 on Wednesday. The stock has a market cap of $126.68 billion, a P/E ratio of 24.50, a P/E/G ratio of 3.02 and a beta of 1.00. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.19 and a quick ratio of 1.98. The company has a fifty day moving average price of $495.76 and a two-hundred day moving average price of $490.16. Deere & Company has a one year low of $387.03 and a one year high of $533.78.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, August 14th. The industrial products company reported $4.75 EPS for the quarter, beating analysts’ consensus estimates of $4.62 by $0.13. The firm had revenue of $10.36 billion during the quarter, compared to analysts’ expectations of $10.33 billion. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The company’s revenue for the quarter was down 9.0% compared to the same quarter last year. During the same quarter last year, the company posted $6.29 earnings per share. As a group, equities analysts predict that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Tuesday, September 30th will be paid a $1.62 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $6.48 dividend on an annualized basis and a yield of 1.4%. Deere & Company’s dividend payout ratio (DPR) is currently 33.87%.

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.