GAMMA Investing LLC Has $663,000 Stock Holdings in Deere & Company (NYSE:DE)

GAMMA Investing LLC lifted its position in Deere & Company (NYSE:DE) by 30.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,775 shares of the industrial products company’s stock after acquiring an additional 413 shares during the period. GAMMA Investing LLC’s holdings in Deere & Company were worth $663,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Tompkins Financial Corp raised its stake in shares of Deere & Company by 2.6% in the first quarter. Tompkins Financial Corp now owns 981 shares of the industrial products company’s stock worth $403,000 after buying an additional 25 shares during the period. Global Retirement Partners LLC boosted its holdings in shares of Deere & Company by 0.7% in the 1st quarter. Global Retirement Partners LLC now owns 3,768 shares of the industrial products company’s stock worth $1,548,000 after purchasing an additional 26 shares during the period. Bleakley Financial Group LLC lifted its stake in shares of Deere & Company by 0.5% during the 4th quarter. Bleakley Financial Group LLC now owns 5,158 shares of the industrial products company’s stock worth $2,063,000 after acquiring an additional 27 shares during the last quarter. Valley National Advisers Inc. raised its position in Deere & Company by 1.5% during the 4th quarter. Valley National Advisers Inc. now owns 1,879 shares of the industrial products company’s stock valued at $751,000 after purchasing an additional 27 shares in the last quarter. Finally, Simplicity Solutions LLC raised its position in Deere & Company by 0.5% during the 4th quarter. Simplicity Solutions LLC now owns 5,158 shares of the industrial products company’s stock valued at $2,063,000 after purchasing an additional 27 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Deere & Company

In other Deere & Company news, insider Cory J. Reed sold 13,370 shares of the firm’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $377.63, for a total value of $5,048,913.10. Following the transaction, the insider now owns 41,642 shares of the company’s stock, valued at $15,725,268.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on DE. TD Cowen boosted their target price on Deere & Company from $383.00 to $390.00 and gave the stock a “hold” rating in a research note on Friday, May 17th. JPMorgan Chase & Co. reduced their target price on Deere & Company from $385.00 to $375.00 and set a “neutral” rating for the company in a report on Thursday, July 11th. Truist Financial dropped their price target on Deere & Company from $460.00 to $439.00 and set a “buy” rating for the company in a research report on Tuesday, July 2nd. Raymond James started coverage on Deere & Company in a research report on Friday, June 28th. They issued an “outperform” rating and a $420.00 price objective for the company. Finally, Oppenheimer reduced their price objective on Deere & Company from $465.00 to $448.00 and set an “outperform” rating on the stock in a research note on Monday, July 22nd. Eleven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, Deere & Company presently has a consensus rating of “Hold” and a consensus price target of $426.71.

Deere & Company Stock Performance

DE traded down $8.35 during trading on Monday, reaching $345.40. The company’s stock had a trading volume of 1,968,993 shares, compared to its average volume of 1,529,566. The company’s fifty day moving average price is $370.86 and its 200-day moving average price is $382.96. The company has a market capitalization of $95.18 billion, a price-to-earnings ratio of 10.35, a price-to-earnings-growth ratio of 1.59 and a beta of 0.93. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.80 and a current ratio of 2.01. Deere & Company has a 52-week low of $340.20 and a 52-week high of $441.46.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, May 16th. The industrial products company reported $8.53 earnings per share for the quarter, topping analysts’ consensus estimates of $7.86 by $0.67. The company had revenue of $13.61 billion for the quarter, compared to analyst estimates of $13.29 billion. Deere & Company had a return on equity of 42.26% and a net margin of 16.15%. The business’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 company posted $9.65 EPS. On average, equities analysts forecast that Deere & Company will post 25.41 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 8th. Stockholders of record on Friday, June 28th will be given a dividend of $1.47 per share. The ex-dividend date is Friday, June 28th. This represents a $5.88 annualized dividend and a dividend yield of 1.70%. Deere & Company’s payout ratio is 17.70%.

About Deere & Company

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.