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

Gateway Investment Advisers LLC lifted its stake in shares of Deere & Company (NYSE:DE - Free Report) by 14.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 81,956 shares of the industrial products company's stock after purchasing an additional 10,645 shares during the period. Gateway Investment Advisers LLC's holdings in Deere & Company were worth $38,466,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the company. Pineridge Advisors LLC lifted its holdings in Deere & Company by 60.5% during 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 during the last quarter. YANKCOM Partnership acquired a new stake in shares of Deere & Company during the 4th quarter valued at approximately $34,000. Orion Capital Management LLC bought a new position in Deere & Company during the fourth quarter worth $34,000. Mascagni Wealth Management Inc. acquired a new position in Deere & Company in the fourth quarter worth $39,000. Finally, Dogwood Wealth Management LLC bought a new stake in Deere & Company during the fourth quarter valued at $42,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on DE. Baird R W cut shares of Deere & Company from a "strong-buy" rating to a "hold" rating in a report on Monday, March 3rd. Barclays boosted their price objective on shares of Deere & Company from $475.00 to $530.00 and gave the company an "overweight" rating in a research report on Friday, May 16th. Bank of America raised their target price on shares of Deere & Company from $495.00 to $556.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. Raymond James lifted their target price on Deere & Company from $530.00 to $560.00 and gave the company an "outperform" rating in a research note on Friday, May 16th. Finally, Melius Research raised Deere & Company from a "hold" rating to a "strong-buy" rating in a report on Friday. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $515.19.

Deere & Company Stock Up 1.7%

DE opened at $519.62 on Friday. Deere & Company has a 12 month low of $340.20 and a 12 month high of $533.78. 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 stock has a market cap of $140.73 billion, a P/E ratio of 23.03, a P/E/G ratio of 2.14 and a beta of 1.09. The stock's 50 day moving average price is $479.20 and its 200 day moving average price is $465.95.

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

Deere & Company Announces Dividend

The business 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 $1.62 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $6.48 dividend on an annualized basis and a yield of 1.25%. Deere & Company's dividend payout ratio 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.

Want to see what other hedge funds are holding DE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Deere & Company (NYSE:DE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.