GAMMA Investing LLC Boosts Stock Holdings in Deere & Company (NYSE:DE)

GAMMA Investing LLC grew its position in Deere & Company (NYSE:DE) by 5.7% in the 1st quarter, HoldingsChannel.com reports. The firm owned 1,362 shares of the industrial products company’s stock after purchasing an additional 73 shares during the period. GAMMA Investing LLC’s holdings in Deere & Company were worth $559,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in DE. Envestnet Portfolio Solutions Inc. bought a new stake in Deere & Company in the third quarter worth about $3,231,000. Envestnet Asset Management Inc. raised its stake in shares of Deere & Company by 19.2% in the third quarter. Envestnet Asset Management Inc. now owns 214,387 shares of the industrial products company’s stock valued at $80,905,000 after buying an additional 34,520 shares during the period. Aigen Investment Management LP raised its stake in shares of Deere & Company by 16.1% in the third quarter. Aigen Investment Management LP now owns 2,344 shares of the industrial products company’s stock valued at $885,000 after buying an additional 325 shares during the period. CI Investments Inc. lifted its position in shares of Deere & Company by 0.7% during the 3rd quarter. CI Investments Inc. now owns 11,457 shares of the industrial products company’s stock valued at $4,324,000 after buying an additional 75 shares during the last quarter. Finally, Rathbones Group PLC grew its stake in shares of Deere & Company by 28.5% during the 3rd quarter. Rathbones Group PLC now owns 448,696 shares of the industrial products company’s stock worth $169,329,000 after acquiring an additional 99,568 shares during the period. 68.58% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on DE. JPMorgan Chase & Co. cut their target price on shares of Deere & Company from $425.00 to $385.00 and set a “neutral” rating for the company in a research report on Friday, May 17th. Morgan Stanley raised their price objective on shares of Deere & Company from $430.00 to $450.00 in a report on Wednesday, May 15th. Stifel Nicolaus boosted their target price on shares of Deere & Company from $425.00 to $450.00 and gave the company a “buy” rating in a report on Friday, May 17th. Truist Financial assumed coverage on Deere & Company in a research report on Thursday, March 14th. They set a “buy” rating and a $494.00 target price on the stock. Finally, DA Davidson reduced their price target on Deere & Company from $483.00 to $465.00 and set a “buy” rating for the company in a research report on Monday, May 20th. Ten investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $433.36.

Deere & Company Stock Performance

DE stock opened at $382.76 on Thursday. The stock has a market capitalization of $105.48 billion, a PE ratio of 11.52, a price-to-earnings-growth ratio of 1.54 and a beta of 0.98. The stock’s 50 day simple moving average is $388.61 and its 200 day simple moving average is $386.58. Deere & Company has a 12-month low of $353.15 and a 12-month high of $450.00. The company has a current ratio of 2.01, a quick ratio of 1.80 and a debt-to-equity ratio of 1.81.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, May 16th. The industrial products company reported $8.53 EPS for the quarter, beating analysts’ consensus estimates of $7.86 by $0.67. The company had revenue of $13.61 billion during the quarter, compared to analysts’ expectations of $13.29 billion. Deere & Company had a return on equity of 42.26% and a net margin of 16.15%. Deere & Company’s revenue for the quarter was down 15.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $9.65 earnings per share. As a group, research analysts forecast that Deere & Company will post 25.61 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 8th. Investors of record on Friday, June 28th will be issued a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date of this dividend is Friday, June 28th. Deere & Company’s payout ratio is 17.70%.

Deere & Company Profile

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.