Deere & Company $DE Shares Sold by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC trimmed its holdings in Deere & Company (NYSE:DE) by 7.2% during the third quarter, HoldingsChannel reports. The firm owned 71,587 shares of the industrial products company’s stock after selling 5,561 shares during the period. Gateway Investment Advisers LLC’s holdings in Deere & Company were worth $32,734,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in DE. Brighton Jones LLC boosted its stake in Deere & Company by 39.1% during the fourth quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company’s stock worth $1,927,000 after buying an additional 1,278 shares during the last quarter. Integrated Wealth Concepts LLC raised its holdings in shares of Deere & Company by 8.2% during the 1st quarter. Integrated Wealth Concepts LLC now owns 9,553 shares of the industrial products company’s stock worth $4,484,000 after acquiring an additional 721 shares during the period. Nissay Asset Management Corp Japan ADV boosted its position in shares of Deere & Company by 0.8% during the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 31,629 shares of the industrial products company’s stock valued at $14,845,000 after acquiring an additional 248 shares during the last quarter. Plancorp LLC grew its holdings in shares of Deere & Company by 69.2% in the first quarter. Plancorp LLC now owns 897 shares of the industrial products company’s stock valued at $421,000 after purchasing an additional 367 shares during the period. Finally, Richwood Investment Advisors LLC increased its position in Deere & Company by 6.5% during the first quarter. Richwood Investment Advisors LLC now owns 1,732 shares of the industrial products company’s stock worth $813,000 after purchasing an additional 105 shares during the last quarter. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Deere & Company

In related news, CEO John C. May II sold 11,106 shares of the company’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $500.08, for a total transaction of $5,553,888.48. Following the sale, the chief executive officer directly owned 112,453 shares of the company’s stock, valued at $56,235,496.24. This represents a 8.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.29% of the company’s stock.

Deere & Company Stock Up 0.3%

Shares of NYSE DE opened at $466.79 on Friday. The firm has a market cap of $126.24 billion, a price-to-earnings ratio of 25.22, a PEG ratio of 1.79 and a beta of 1.00. The company has a quick ratio of 2.01, a current ratio of 2.22 and a debt-to-equity ratio of 1.68. Deere & Company has a 52-week low of $403.01 and a 52-week high of $533.78. The business’s 50 day moving average is $473.33 and its two-hundred day moving average is $483.13.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Wednesday, November 26th. The industrial products company reported $3.93 EPS for the quarter, missing the consensus estimate of $3.96 by ($0.03). Deere & Company had a return on equity of 20.54% and a net margin of 11.00%.The firm had revenue of $12.39 billion for the quarter, compared to analysts’ expectations of $9.77 billion. During the same quarter in the prior year, the business earned $4.55 earnings per share. The company’s quarterly revenue was up 14.1% on a year-over-year basis. Research analysts predict that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 9th. Stockholders of record on Wednesday, December 31st will be paid a $1.62 dividend. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $6.48 annualized dividend and a dividend yield of 1.4%. Deere & Company’s dividend payout ratio (DPR) is presently 35.01%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. JPMorgan Chase & Co. decreased their target price on shares of Deere & Company from $480.00 to $460.00 and set a “neutral” rating on the stock in a report on Friday, December 19th. Oppenheimer lifted their price target on shares of Deere & Company from $512.00 to $531.00 and gave the company an “outperform” rating in a research report on Friday, November 28th. Wall Street Zen lowered Deere & Company from a “hold” rating to a “sell” rating in a research report on Friday, November 28th. Citigroup cut their target price on Deere & Company from $525.00 to $515.00 and set a “neutral” rating for the company in a research note on Tuesday, October 7th. Finally, Jefferies Financial Group lifted their target price on Deere & Company from $440.00 to $475.00 and gave the company a “hold” rating in a research report on Tuesday, December 9th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $524.20.

Deere & Company Profile

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.