Gamco Investors INC. ET AL reduced its stake in shares of Deere & Company (NYSE:DE - Free Report) by 4.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 134,818 shares of the industrial products company's stock after selling 6,128 shares during the quarter. Deere & Company makes up 0.7% of Gamco Investors INC. ET AL's holdings, making the stock its 25th largest position. Gamco Investors INC. ET AL's holdings in Deere & Company were worth $63,277,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also modified their holdings of the company. GAMMA Investing LLC boosted its position in Deere & Company by 61,215.9% during the first quarter. GAMMA Investing LLC now owns 1,753,022 shares of the industrial products company's stock worth $822,781,000 after purchasing an additional 1,750,163 shares in the last quarter. Castlekeep Investment Advisors LLC purchased a new position in Deere & Company in the fourth quarter valued at $541,437,000. Nuveen LLC purchased a new stake in Deere & Company during the 1st quarter worth about $571,073,000. Leigh Baldwin & CO. LLC purchased a new stake in Deere & Company during the 4th quarter worth about $255,686,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Deere & Company in the 4th quarter valued at about $149,057,000. 68.58% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
DE has been the subject of a number of analyst reports. BMO Capital Markets reissued a "market perform" rating and set a $460.00 target price (up from $425.00) on shares of Deere & Company in a research note on Wednesday, May 21st. Bank of America lifted their price objective on Deere & Company from $495.00 to $556.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. Truist Financial decreased their price objective on Deere & Company from $619.00 to $602.00 and set a "buy" rating on the stock in a report on Friday, August 15th. Barclays upped their price target on shares of Deere & Company from $475.00 to $530.00 and gave the stock an "overweight" rating in a research report on Friday, May 16th. Finally, Oppenheimer boosted their price target on Deere & Company from $560.00 to $566.00 and gave the company an "outperform" rating in a research report on Friday, August 15th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and nine have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $523.87.
Read Our Latest Report on DE
Deere & Company Stock Performance
Shares of Deere & Company stock traded down $12.76 on Friday, reaching $478.68. 1,534,087 shares of the company were exchanged, compared to its average volume of 1,357,721. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.98 and a current ratio of 2.19. The company's 50-day moving average is $505.87 and its two-hundred day moving average is $491.08. The firm has a market cap of $129.64 billion, a price-to-earnings ratio of 25.02, a P/E/G ratio of 3.16 and a beta of 1.06. Deere & Company has a 1-year low of $376.95 and a 1-year high of $533.78.
Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.62 by $0.13. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The business had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.33 billion. During the same period in the prior year, the company posted $6.29 EPS. The business's revenue for the quarter was down 9.0% compared to the same quarter last year. As a group, research analysts expect that Deere & Company will post 19.32 earnings per share for the current fiscal year.
Deere & Company Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Tuesday, September 30th will be given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Tuesday, September 30th. Deere & Company's dividend payout ratio is 33.87%.
About Deere & Company
(
Free Report)
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.
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