Garrison Asset Management LLC Cuts Stock Position in Deere & Company (NYSE:DE)

Garrison Asset Management LLC lowered its position in shares of Deere & Company (NYSE:DE) by 2.9% in the 3rd quarter, according to its most recent Form 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 makes up approximately 2.1% of Garrison Asset Management LLC’s portfolio, 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.

A number of other hedge funds also recently added to or reduced their stakes in the company. Pineridge Advisors LLC increased its position in Deere & Company by 725.0% in the first quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock worth $27,000 after buying an additional 58 shares in the last quarter. Fairscale Capital LLC purchased a new position in Deere & Company during the second quarter valued at approximately $26,000. Livelsberger Financial Advisory bought a new position in shares of Deere & Company in the third quarter worth approximately $32,000. Olistico Wealth LLC bought a new stake in shares of Deere & Company during the 2nd quarter valued at $37,000. Finally, Centennial Bank AR lifted its stake in shares of Deere & Company by 420.0% during the 2nd quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock valued at $39,000 after buying an additional 84 shares in the last quarter. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Price Performance

Shares of NYSE DE traded up $3.24 during mid-day trading on Monday, reaching $403.66. The company had a trading volume of 89,081 shares, compared to its average volume of 1,435,038. The company has a 50-day moving average price of $400.85 and a two-hundred day moving average price of $385.41. The stock has a market cap of $110.44 billion, a PE ratio of 13.66, a P/E/G ratio of 1.35 and a beta of 0.93. Deere & Company has a 1-year low of $340.20 and a 1-year high of $420.47. 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 (NYSE:DE) last posted its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, topping 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 period in the previous year, the company posted $10.20 earnings per share. The firm’s revenue for the quarter was down 20.3% on a year-over-year basis. On average, equities analysts anticipate that Deere & Company will post 25 earnings per share for the current year.

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Monday, September 30th will be paid a $1.47 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.46%. Deere & Company’s dividend payout ratio (DPR) is presently 20.06%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on DE shares. Hsbc Global Res cut Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, August 19th. 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 report on Friday, August 16th. Evercore ISI boosted their price objective on shares of Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a research note on Monday, August 19th. HSBC downgraded Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, August 19th. Finally, Truist Financial boosted their price objective on shares of Deere & Company from $443.00 to $496.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Twelve analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Deere & Company currently has an average rating of “Hold” and a consensus target price of $420.69.

Deere & 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.