Garner Asset Management Corp Lowers Position in Deere & Company $DE

Garner Asset Management Corp trimmed its position in shares of Deere & Company (NYSE:DE) by 8.3% during the second quarter, HoldingsChannel reports. The fund owned 2,385 shares of the industrial products company’s stock after selling 215 shares during the quarter. Garner Asset Management Corp’s holdings in Deere & Company were worth $1,212,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in DE. Mid American Wealth Advisory Group Inc. acquired a new position in Deere & Company during the 2nd quarter worth approximately $25,000. Activest Wealth Management lifted its holdings in shares of Deere & Company by 2,750.0% in the 1st quarter. Activest Wealth Management now owns 57 shares of the industrial products company’s stock valued at $27,000 after buying an additional 55 shares during the period. Marshall & Sullivan Inc. WA purchased a new stake in shares of Deere & Company in the second quarter valued at approximately $38,000. Livelsberger Financial Advisory acquired a new position in Deere & Company during the second quarter worth $39,000. Finally, Center for Financial Planning Inc. grew its holdings in Deere & Company by 406.7% during the second quarter. Center for Financial Planning Inc. now owns 76 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 61 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on DE shares. Wolfe Research reduced their target price on Deere & Company from $550.00 to $520.00 and set an “outperform” rating for the company in a report on Friday, October 3rd. Evercore ISI decreased their price objective on shares of Deere & Company from $491.00 to $487.00 in a report on Monday, November 17th. Wells Fargo & Company started coverage on shares of Deere & Company in a research report on Thursday, November 13th. They set an “overweight” rating and a $543.00 target price on the stock. Truist Financial lifted their price target on shares of Deere & Company from $602.00 to $609.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. decreased their price target on Deere & Company from $495.00 to $480.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 14th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $519.85.

Insiders Place Their Bets

In other news, CEO John C. May II sold 11,106 shares of the business’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $500.08, for a total value of $5,553,888.48. Following the completion of the transaction, the chief executive officer directly owned 112,453 shares of the company’s stock, valued at $56,235,496.24. The trade was a 8.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.29% of the company’s stock.

Deere & Company Stock Performance

Shares of DE opened at $469.95 on Thursday. Deere & Company has a 12-month low of $403.01 and a 12-month high of $533.78. The stock has a market cap of $127.04 billion, a P/E ratio of 24.57, a PEG ratio of 3.05 and a beta of 1.04. The company has a current ratio of 2.19, a quick ratio of 1.98 and a debt-to-equity ratio of 1.76. The company has a 50-day moving average of $467.30 and a two-hundred day moving average of $490.94.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Wednesday, November 26th. The industrial products company reported $3.93 earnings per share for the quarter, missing analysts’ consensus estimates of $3.96 by ($0.03). Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The business had revenue of $12.39 billion for the quarter, compared to analysts’ expectations of $9.77 billion. During the same period last year, the business earned $4.55 earnings per share. The company’s revenue for the quarter was up 14.1% on a year-over-year basis. As a group, research analysts predict that Deere & Company will post 19.32 EPS for the current fiscal year.

About Deere & Company

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.