Deere & Company (NYSE:DE) Shares Bought by Garner Asset Management Corp

Garner Asset Management Corp boosted its stake in shares of Deere & Company (NYSE:DE) by 1.1% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 2,799 shares of the industrial products company’s stock after purchasing an additional 31 shares during the period. Garner Asset Management Corp’s holdings in Deere & Company were worth $1,046,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its holdings in Deere & Company by 1.2% in the first quarter. Vanguard Group Inc. now owns 21,988,363 shares of the industrial products company’s stock valued at $9,031,500,000 after buying an additional 263,709 shares in the last quarter. Janus Henderson Group PLC raised its holdings in Deere & Company by 0.5% in 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 purchasing an additional 19,200 shares during the period. Parnassus Investments LLC boosted its position in Deere & Company by 22.4% during the fourth quarter. Parnassus Investments LLC now owns 3,856,171 shares of the industrial products company’s stock worth $1,541,967,000 after purchasing an additional 705,771 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Deere & Company by 15.0% in the second quarter. Dimensional Fund Advisors LP now owns 2,146,441 shares of the industrial products company’s stock valued at $802,037,000 after purchasing an additional 279,627 shares during the period. Finally, Fisher Asset Management LLC lifted its position in shares of Deere & Company by 11.3% during the 4th quarter. Fisher Asset Management LLC now owns 1,481,458 shares of the industrial products company’s stock valued at $592,391,000 after buying an additional 150,713 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Performance

Shares of DE stock opened at $401.11 on Thursday. The company has a market cap of $110.53 billion, a P/E ratio of 12.07, a PEG ratio of 1.29 and a beta of 0.92. The firm has a fifty day moving average price of $374.47 and a 200 day moving average price of $382.18. The company has a current ratio of 2.07, a quick ratio of 1.87 and a debt-to-equity ratio of 1.85. Deere & Company has a 12 month low of $340.20 and a 12 month high of $417.46.

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 analysts’ consensus estimates of $5.63 by $0.66. The business had revenue of $11.39 billion for the quarter, compared to the consensus estimate of $10.94 billion. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The business’s revenue for the quarter was down 20.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $10.20 EPS. Sell-side analysts predict that Deere & Company will post 25.07 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Monday, September 30th will be paid a dividend of $1.47 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $5.88 annualized dividend and a yield of 1.47%. Deere & Company’s dividend payout ratio is currently 17.70%.

Analyst Upgrades and Downgrades

DE has been the subject of a number of research analyst reports. Morgan Stanley reduced their target price on Deere & Company from $450.00 to $425.00 and set an “overweight” rating for the company in a report on Monday, August 26th. Deutsche Bank Aktiengesellschaft decreased their price objective on Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a report on Thursday, August 8th. Raymond James began coverage on shares of Deere & Company in a report on Friday, June 28th. They set an “outperform” rating and a $420.00 target price for the company. HSBC lowered Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, August 19th. Finally, Hsbc Global Res lowered Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 19th. Fourteen 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.com, the stock has a consensus rating of “Hold” and a consensus target price of $409.88.

Insiders Place Their Bets

In related news, insider Cory J. Reed sold 13,370 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $377.63, for a total transaction of $5,048,913.10. Following the transaction, the insider now owns 41,642 shares in the company, valued at approximately $15,725,268.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate 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.