Gateway Investment Advisers LLC Sells 137 Shares of Deere & Company (NYSE:DE)

Gateway Investment Advisers LLC decreased its position in Deere & Company (NYSE:DE) by 0.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 72,146 shares of the industrial products company’s stock after selling 137 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Deere & Company were worth $30,109,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Fairscale Capital LLC bought a new position in shares of Deere & Company in the second quarter worth approximately $26,000. Pineridge Advisors LLC boosted its stake in shares of Deere & Company by 725.0% in the first quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 58 shares during the period. Livelsberger Financial Advisory purchased a new position in Deere & Company in the 4th quarter worth approximately $30,000. Spartan Planning & Wealth Management purchased a new stake in Deere & Company during the 4th quarter valued at approximately $33,000. Finally, Olistico Wealth LLC bought a new stake in shares of Deere & Company during the second quarter valued at approximately $37,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on DE. Morgan Stanley cut their target price on shares of Deere & Company from $450.00 to $425.00 and set an “overweight” rating for the company in a research note on Monday, August 26th. JPMorgan Chase & Co. raised their price target on Deere & Company from $360.00 to $420.00 and gave the company a “neutral” rating in a report on Friday. Deutsche Bank Aktiengesellschaft lowered their target price on Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a research report on Thursday, August 8th. Bank of America increased their price objective on shares of Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a research report on Friday, August 16th. Finally, Oppenheimer decreased their target price on shares of Deere & Company from $465.00 to $448.00 and set an “outperform” rating on the stock in a research report on Monday, July 22nd. Twelve equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $420.69.

Deere & Company Stock Up 1.3 %

Shares of NYSE:DE traded up $5.32 on Friday, reaching $411.08. The company had a trading volume of 653,446 shares, compared to its average volume of 1,483,328. The company has a current ratio of 2.07, a quick ratio of 1.87 and a debt-to-equity ratio of 1.85. The firm has a market capitalization of $113.28 billion, a PE ratio of 12.37, a PEG ratio of 1.35 and a beta of 0.92. Deere & Company has a 52-week low of $340.20 and a 52-week high of $420.47. The firm’s 50 day simple moving average is $387.01 and its 200-day simple moving average is $385.53.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, beating the consensus estimate of $5.63 by $0.66. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The firm had revenue of $11.39 billion during the quarter, compared to analyst estimates of $10.94 billion. During the same quarter in the prior year, the business posted $10.20 EPS. The business’s revenue for the quarter was down 20.3% compared to the same quarter last year. As a group, analysts expect that Deere & Company will post 25.03 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, September 30th will be paid a dividend of $1.47 per share. The ex-dividend date is Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a yield of 1.43%. Deere & Company’s payout ratio is 17.70%.

About Deere & Company

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.