Gateway Wealth Partners LLC Purchases 2,942 Shares of Deere & Company $DE

Gateway Wealth Partners LLC raised its holdings in shares of Deere & Company (NYSE:DE) by 139.7% during the 1st quarter, Holdings Channel.com reports. The firm owned 5,048 shares of the industrial products company’s stock after acquiring an additional 2,942 shares during the quarter. Gateway Wealth Partners LLC’s holdings in Deere & Company were worth $2,844,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Anchyra Partners LLC lifted its stake in shares of Deere & Company by 0.5% during the 1st quarter. Anchyra Partners LLC now owns 3,191 shares of the industrial products company’s stock valued at $1,797,000 after buying an additional 17 shares in the last quarter. William B. Walkup & Associates Inc. grew its stake in Deere & Company by 0.6% in the 1st quarter. William B. Walkup & Associates Inc. now owns 2,908 shares of the industrial products company’s stock valued at $1,638,000 after buying an additional 17 shares in the last quarter. Advisortrust Partners LLC grew its stake in Deere & Company by 2.0% in the 1st quarter. Advisortrust Partners LLC now owns 914 shares of the industrial products company’s stock valued at $515,000 after buying an additional 18 shares in the last quarter. Cerro Pacific Wealth Advisors LLC raised its holdings in Deere & Company by 0.6% during the 4th quarter. Cerro Pacific Wealth Advisors LLC now owns 3,179 shares of the industrial products company’s stock valued at $1,480,000 after acquiring an additional 19 shares during the period. Finally, Hazlett Burt & Watson Inc. raised its holdings in Deere & Company by 2.4% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 816 shares of the industrial products company’s stock valued at $379,000 after acquiring an additional 19 shares during the period. Institutional investors own 68.58% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Wall Street Zen raised Deere & Company from a “sell” rating to a “hold” rating in a report on Sunday, July 5th. DA Davidson reiterated a “buy” rating and set a $685.00 price objective on shares of Deere & Company in a research note on Friday, July 17th. Citigroup increased their price objective on Deere & Company from $575.00 to $610.00 and gave the stock a “neutral” rating in a report on Tuesday, July 14th. Barclays raised their target price on Deere & Company from $530.00 to $640.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 31st. Finally, Truist Financial lifted their target price on Deere & Company from $759.00 to $812.00 and gave the company a “buy” rating in a report on Thursday, July 2nd. Fourteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, Deere & Company currently has an average rating of “Moderate Buy” and a consensus price target of $642.98.

Deere & Company Stock Down 0.4%

Shares of NYSE:DE opened at $625.37 on Tuesday. The firm has a fifty day moving average price of $586.26 and a two-hundred day moving average price of $577.84. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.18 and a quick ratio of 1.95. Deere & Company has a one year low of $433.00 and a one year high of $674.19. The company has a market cap of $168.81 billion, a price-to-earnings ratio of 35.43, a PEG ratio of 2.65 and a beta of 0.89.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share for the quarter, topping the consensus estimate of $5.70 by $0.85. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The firm had revenue of $13.37 billion for the quarter, compared to analysts’ expectations of $11.55 billion. During the same quarter in the prior year, the firm posted $6.64 earnings per share. The business’s quarterly revenue was up 5.4% on a year-over-year basis. Analysts anticipate that Deere & Company will post 18.28 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Tuesday, June 30th will be paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Tuesday, June 30th. Deere & Company’s dividend payout ratio is currently 36.71%.

Deere & Company Company Profile

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.