Deere & Company (NYSE:DE) Shares Sold by Garrison Asset Management LLC

Garrison Asset Management LLC cut its holdings in Deere & Company (NYSE:DE) by 0.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,031 shares of the industrial products company’s stock after selling 42 shares during the quarter. Deere & Company comprises approximately 2.0% of Garrison Asset Management LLC’s portfolio, making the stock its 13th largest holding. Garrison Asset Management LLC’s holdings in Deere & Company were worth $3,748,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in DE. Vanguard Group Inc. lifted its holdings in shares of Deere & Company by 1.2% during the first quarter. Vanguard Group Inc. now owns 21,988,363 shares of the industrial products company’s stock worth $9,031,500,000 after purchasing an additional 263,709 shares during the period. Janus Henderson Group PLC raised its position in Deere & Company by 0.5% during the 1st quarter. Janus Henderson Group PLC now owns 3,859,021 shares of the industrial products company’s stock worth $1,585,028,000 after buying an additional 19,200 shares during the last quarter. Parnassus Investments LLC lifted its stake in shares of Deere & Company by 22.4% in the 4th quarter. Parnassus Investments LLC now owns 3,856,171 shares of the industrial products company’s stock worth $1,541,967,000 after acquiring an additional 705,771 shares during the period. Norges Bank purchased a new stake in shares of Deere & Company in the fourth quarter valued at about $1,248,036,000. Finally, Fisher Asset Management LLC increased its stake in shares of Deere & Company by 11.3% during the fourth quarter. Fisher Asset Management LLC now owns 1,481,458 shares of the industrial products company’s stock worth $592,391,000 after acquiring an additional 150,713 shares during the period. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Price Performance

Shares of NYSE:DE opened at $394.68 on Friday. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.87 and a current ratio of 2.07. The business’s fifty day moving average price is $371.71 and its two-hundred day moving average price is $381.51. The stock has a market cap of $107.98 billion, a PE ratio of 11.88, a price-to-earnings-growth ratio of 1.29 and a beta of 0.92. Deere & Company has a one year low of $340.20 and a one year high of $417.46.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, beating analysts’ consensus estimates of $5.63 by $0.66. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The business had revenue of $11.39 billion for the quarter, compared to analyst estimates of $10.94 billion. During the same quarter last year, the company earned $10.20 earnings per share. The business’s revenue for the quarter was down 20.3% compared to the same quarter last year. On average, analysts forecast that Deere & Company will post 25.07 EPS for the current fiscal year.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Monday, September 30th will be given a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date of this dividend is Monday, September 30th. Deere & Company’s dividend payout ratio is presently 17.70%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on DE. Hsbc Global Res lowered Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, August 19th. Evercore ISI lifted their price target on Deere & Company from $371.00 to $378.00 and gave the company an “in-line” rating in a research note on Monday, August 19th. Raymond James initiated coverage on Deere & Company in a report on Friday, June 28th. They set an “outperform” rating and a $420.00 price objective on the stock. DA Davidson reduced their target price on Deere & Company from $483.00 to $465.00 and set a “buy” rating for the company in a report on Monday, May 20th. Finally, Bank of America upped their price target on shares of Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a research note on Friday, August 16th. Fourteen investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $414.11.

Insider Activity at Deere & Company

In other Deere & Company news, insider Cory J. Reed sold 13,370 shares of Deere & Company stock in a transaction that occurred on 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 completion of the sale, the insider now directly owns 41,642 shares of the company’s stock, valued at approximately $15,725,268.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.26% of the company’s stock.

Deere & Company 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.