Gateway Investment Advisers LLC Sells 835 Shares of Deere & Company (NYSE:DE)

Gateway Investment Advisers LLC lowered its stake in Deere & Company (NYSE:DE - Free Report) by 1.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 71,311 shares of the industrial products company's stock after selling 835 shares during the quarter. Gateway Investment Advisers LLC's holdings in Deere & Company were worth $30,215,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Fairscale Capital LLC acquired a new stake in Deere & Company in the second quarter valued at $26,000. Livelsberger Financial Advisory bought a new stake in shares of Deere & Company in the 3rd quarter valued at about $32,000. Modus Advisors LLC acquired a new stake in Deere & Company in the 4th quarter valued at about $32,000. Centennial Bank AR grew its holdings in Deere & Company by 420.0% during the second quarter. Centennial Bank AR now owns 104 shares of the industrial products company's stock worth $39,000 after purchasing an additional 84 shares during the period. Finally, Continuum Advisory LLC grew its holdings in Deere & Company by 155.8% during the third quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company's stock worth $43,000 after purchasing an additional 67 shares during the period. Institutional investors own 68.58% of the company's stock.

Analyst Upgrades and Downgrades

DE has been the subject of a number of recent analyst reports. Barclays raised their price objective on Deere & Company from $400.00 to $475.00 and gave the company an "overweight" rating in a research report on Friday, November 22nd. Oppenheimer raised their price target on Deere & Company from $448.00 to $477.00 and gave the company an "outperform" rating in a report on Friday, November 22nd. Truist Financial lifted their price objective on shares of Deere & Company from $538.00 to $550.00 and gave the stock a "buy" rating in a research report on Thursday, December 19th. JPMorgan Chase & Co. increased their price objective on shares of Deere & Company from $450.00 to $470.00 and gave the company a "neutral" rating in a research report on Wednesday. Finally, Citigroup reduced their target price on shares of Deere & Company from $470.00 to $430.00 and set a "neutral" rating for the company in a report on Tuesday. Eleven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $442.83.

Deere & Company Price Performance

NYSE DE traded up $17.46 during midday trading on Friday, hitting $456.57. The company had a trading volume of 2,315,483 shares, compared to its average volume of 1,354,611. The company has a market capitalization of $124.00 billion, a PE ratio of 17.83, a P/E/G ratio of 1.74 and a beta of 0.98. The company has a current ratio of 2.09, a quick ratio of 1.90 and a debt-to-equity ratio of 1.89. The firm has a 50-day moving average price of $430.22 and a 200-day moving average price of $401.33. Deere & Company has a twelve month low of $340.20 and a twelve month high of $469.39.

Deere & Company (NYSE:DE - Get Free Report) last posted its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, topping the consensus estimate of $3.89 by $0.66. The business had revenue of $9.28 billion during the quarter, compared to analysts' expectations of $9.20 billion. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. Deere & Company's revenue was down 32.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $8.26 earnings per share. As a group, analysts anticipate that Deere & Company will post 19.57 earnings per share for the current fiscal year.

Deere & Company Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st will be given a $1.62 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This is a boost from Deere & Company's previous quarterly dividend of $1.47. This represents a $6.48 annualized dividend and a dividend yield of 1.42%. Deere & Company's payout ratio is presently 25.31%.

Deere & Company Company Profile

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.