Garner Asset Management Corp Boosts Position in Deere & Company (NYSE:DE)

Garner Asset Management Corp boosted its position in Deere & Company (NYSE:DE) by 1.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,843 shares of the industrial products company’s stock after purchasing an additional 44 shares during the quarter. Garner Asset Management Corp’s holdings in Deere & Company were worth $1,205,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Pineridge Advisors LLC grew its stake in shares of Deere & Company by 60.5% in the fourth quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 26 shares during the period. Modus Advisors LLC bought a new position in shares of Deere & Company in the fourth quarter worth approximately $32,000. YANKCOM Partnership purchased a new stake in Deere & Company in the 4th quarter worth $34,000. Synergy Asset Management LLC purchased a new position in Deere & Company in the 4th quarter worth approximately $35,000. Finally, Sierra Ocean LLC purchased a new position in Deere & Company during the fourth quarter valued at $44,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Analyst Ratings Changes

DE has been the subject of a number of recent research reports. Robert W. Baird reissued a “neutral” rating and issued a $501.00 price objective on shares of Deere & Company in a research note on Monday, March 3rd. Evercore ISI raised their price objective on Deere & Company from $437.00 to $455.00 and gave the company an “in-line” rating in a research note on Wednesday, February 19th. Truist Financial reissued a “buy” rating and set a $546.00 target price (down previously from $550.00) on shares of Deere & Company in a research report on Friday, February 14th. Oppenheimer increased their price target on Deere & Company from $477.00 to $507.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. Finally, Citigroup cut their price objective on shares of Deere & Company from $480.00 to $450.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 8th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $457.26.

Deere & Company Stock Up 3.5 %

Shares of NYSE:DE opened at $459.75 on Friday. The stock has a 50-day simple moving average of $470.92 and a 200-day simple moving average of $443.29. The stock has a market capitalization of $124.78 billion, a P/E ratio of 20.38, a PEG ratio of 2.14 and a beta of 1.00. Deere & Company has a 1 year low of $340.20 and a 1 year high of $515.05. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.98 and a current ratio of 2.22.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, February 13th. The industrial products company reported $3.19 EPS for the quarter, topping analysts’ consensus estimates of $3.14 by $0.05. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. Equities analysts forecast that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 8th. Stockholders of record on Monday, March 31st will be given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date is Monday, March 31st. Deere & Company’s payout ratio is currently 28.72%.

Insider Buying and Selling

In related news, insider Rajesh Kalathur sold 24,580 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $500.61, for a total value of $12,304,993.80. Following the completion of the sale, the insider now directly owns 74,878 shares of the company’s stock, valued at $37,484,675.58. The trade was a 24.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.29% of the company’s stock.

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.