Garrison Asset Management LLC Has $4.07 Million Stock Holdings in Deere & Company (NYSE:DE)

Garrison Asset Management LLC lowered its position in Deere & Company (NYSE:DE) by 2.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,743 shares of the industrial products company’s stock after selling 288 shares during the period. Deere & Company comprises 2.1% of Garrison Asset Management LLC’s holdings, making the stock its 12th largest position. Garrison Asset Management LLC’s holdings in Deere & Company were worth $4,066,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Mutual Advisors LLC raised its stake in shares of Deere & Company by 7.7% during the 1st quarter. Mutual Advisors LLC now owns 6,148 shares of the industrial products company’s stock worth $2,525,000 after purchasing an additional 441 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its holdings in shares of Deere & Company by 0.8% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 10,113 shares of the industrial products company’s stock valued at $4,154,000 after purchasing an additional 77 shares during the period. Pictet North America Advisors SA acquired a new stake in Deere & Company in the 1st quarter valued at about $205,000. BI Asset Management Fondsmaeglerselskab A S lifted its position in shares of Deere & Company by 19.8% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 11,052 shares of the industrial products company’s stock valued at $4,539,000 after buying an additional 1,823 shares during the last quarter. Finally, Easterly Investment Partners LLC bought a new position in shares of Deere & Company during the 1st quarter worth approximately $201,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on DE shares. HSBC downgraded shares of Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, August 19th. Evercore ISI increased their price target on Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a research report on Monday, August 19th. Hsbc Global Res downgraded Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 19th. Morgan Stanley cut their target price on shares of Deere & Company from $450.00 to $425.00 and set an “overweight” rating on the stock in a research report on Monday, August 26th. Finally, Truist Financial increased their price target on Deere & Company from $443.00 to $496.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Twelve equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $420.69.

Deere & Company Stock Performance

NYSE DE traded up $3.24 during trading hours on Monday, hitting $403.66. 89,081 shares of the company’s stock traded hands, compared to its average volume of 1,435,038. The firm has a market capitalization of $110.44 billion, a P/E ratio of 13.66, a P/E/G ratio of 1.35 and a beta of 0.93. The company has a current ratio of 2.07, a quick ratio of 1.87 and a debt-to-equity ratio of 1.85. The business’s fifty day moving average price is $400.85 and its two-hundred day moving average price is $385.41. Deere & Company has a 52 week low of $340.20 and a 52 week high of $420.47.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, beating the consensus estimate of $5.63 by $0.66. The business had revenue of $11.39 billion during the quarter, compared to analyst estimates of $10.94 billion. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. Deere & Company’s quarterly revenue was down 20.3% compared to the same quarter last year. During the same quarter last year, the business earned $10.20 earnings per share. Equities research analysts predict that Deere & Company will post 25 EPS for the current year.

Deere & Company Announces Dividend

The firm also recently declared 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. The ex-dividend date is Monday, September 30th. This represents a $5.88 annualized dividend and a dividend yield of 1.46%. Deere & Company’s payout ratio is presently 20.06%.

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.