Gateway Wealth Partners LLC Raises Stock Holdings in Deere & Company (NYSE:DE)

Gateway Wealth Partners LLC boosted its position in Deere & Company (NYSE:DE) by 16.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,744 shares of the industrial products company’s stock after buying an additional 244 shares during the quarter. Gateway Wealth Partners LLC’s holdings in Deere & Company were worth $739,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Capital Investment Counsel LLC raised its holdings in Deere & Company by 1.2% in the fourth quarter. Capital Investment Counsel LLC now owns 16,137 shares of the industrial products company’s stock worth $6,837,000 after purchasing an additional 192 shares in the last quarter. SteelPeak Wealth LLC grew its stake in shares of Deere & Company by 84.3% during the 4th quarter. SteelPeak Wealth LLC now owns 11,160 shares of the industrial products company’s stock valued at $4,747,000 after acquiring an additional 5,105 shares during the period. BSW Wealth Partners lifted its holdings in Deere & Company by 15.2% in the 4th quarter. BSW Wealth Partners now owns 1,785 shares of the industrial products company’s stock worth $757,000 after purchasing an additional 236 shares in the last quarter. Aspire Capital Advisors LLC raised its holdings in shares of Deere & Company by 2.0% during the 4th quarter. Aspire Capital Advisors LLC now owns 1,431 shares of the industrial products company’s stock worth $606,000 after acquiring an additional 28 shares in the last quarter. Finally, Stonegate Investment Group LLC raised its holdings in shares of Deere & Company by 1.1% during the 4th quarter. Stonegate Investment Group LLC now owns 115,333 shares of the industrial products company’s stock worth $48,867,000 after acquiring an additional 1,291 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Performance

NYSE DE opened at $480.59 on Wednesday. Deere & Company has a 1-year low of $340.20 and a 1-year high of $485.84. The company has a market cap of $130.89 billion, a PE ratio of 18.77, a price-to-earnings-growth ratio of 2.84 and a beta of 0.98. The company has a debt-to-equity ratio of 1.89, a current ratio of 2.09 and a quick ratio of 1.90. The stock’s 50 day simple moving average is $440.14 and its 200-day simple moving average is $407.30.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, beating analysts’ consensus estimates of $3.89 by $0.66. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The company had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.20 billion. During the same quarter in the previous year, the business earned $8.26 earnings per share. The company’s revenue for the quarter was down 32.8% on a year-over-year basis. As a group, equities research analysts anticipate that Deere & Company will post 19.34 EPS for the current fiscal year.

Deere & Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st will be given a dividend of $1.62 per share. 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 1.35%. The ex-dividend date is Tuesday, December 31st. Deere & Company’s dividend payout ratio is currently 25.31%.

Wall Street Analyst Weigh In

DE has been the topic of several research analyst reports. Jefferies Financial Group downgraded Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price objective on the stock. in a research report on Friday, December 6th. Barclays upped their price objective on Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Citigroup decreased their price target on Deere & Company from $470.00 to $430.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. UBS Group increased their price target on Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Finally, JPMorgan Chase & Co. raised their price objective on Deere & Company from $450.00 to $470.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 15th. Eleven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $444.50.

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.