Gateway Wealth Partners LLC Grows Stake in Deere & Company (NYSE:DE)

Gateway Wealth Partners LLC grew its stake in Deere & Company (NYSE:DE) by 16.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,744 shares of the industrial products company’s stock after purchasing an additional 244 shares during the period. Gateway Wealth Partners LLC’s holdings in Deere & Company were worth $739,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. DLK Investment Management LLC raised its stake in shares of Deere & Company by 0.3% in the 4th quarter. DLK Investment Management LLC now owns 8,212 shares of the industrial products company’s stock valued at $3,479,000 after purchasing an additional 24 shares in the last quarter. Mattern Wealth Management LLC raised its stake in shares of Deere & Company by 1.3% in the 3rd quarter. Mattern Wealth Management LLC now owns 1,884 shares of the industrial products company’s stock valued at $786,000 after purchasing an additional 25 shares in the last quarter. Carret Asset Management LLC raised its stake in shares of Deere & Company by 0.3% in the 3rd quarter. Carret Asset Management LLC now owns 8,148 shares of the industrial products company’s stock valued at $3,401,000 after purchasing an additional 25 shares in the last quarter. Round Rock Advisors LLC raised its stake in shares of Deere & Company by 2.0% in the 3rd quarter. Round Rock Advisors LLC now owns 1,252 shares of the industrial products company’s stock valued at $522,000 after purchasing an additional 25 shares in the last quarter. Finally, Douglas Lane & Associates LLC raised its stake in shares of Deere & Company by 4.7% in the 4th quarter. Douglas Lane & Associates LLC now owns 557 shares of the industrial products company’s stock valued at $236,000 after purchasing an additional 25 shares in the last quarter. 68.58% of the stock is owned by institutional investors.

Deere & Company Price Performance

NYSE:DE opened at $480.59 on Wednesday. The firm has a market cap of $130.89 billion, a price-to-earnings ratio of 18.77, a P/E/G ratio of 2.84 and a beta of 0.98. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.90 and a current ratio of 2.09. Deere & Company has a 52 week low of $340.20 and a 52 week high of $485.84. The firm’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 quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, beating analysts’ consensus estimates of $3.89 by $0.66. The company had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.20 billion. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The firm’s quarterly revenue was down 32.8% compared to the same quarter last year. During the same period last year, the company posted $8.26 EPS. As a group, sell-side analysts predict that Deere & Company will post 19.34 earnings per share for the current year.

Deere & Company Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st will be paid a $1.62 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $6.48 annualized dividend and a dividend yield of 1.35%. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s payout ratio is currently 25.31%.

Analyst Upgrades and Downgrades

DE has been the subject of a number of recent research reports. Jefferies Financial Group downgraded shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price objective for the company. in a research report on Friday, December 6th. Oppenheimer boosted their price objective on shares of Deere & Company from $477.00 to $507.00 and gave the company an “outperform” rating in a research report on Tuesday. UBS Group upped their target price on shares of Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Truist Financial upped their target price 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. Finally, JPMorgan Chase & Co. upped their target price on shares of Deere & Company from $450.00 to $470.00 and gave the stock a “neutral” rating in a research report 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 company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $444.50.

Deere & 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.