Deere & Company $DE Shares Sold by Garner Asset Management Corp

Garner Asset Management Corp cut its position in Deere & Company (NYSE:DE) by 8.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,385 shares of the industrial products company’s stock after selling 215 shares during the period. Garner Asset Management Corp’s holdings in Deere & Company were worth $1,212,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the company. Mid American Wealth Advisory Group Inc. acquired a new stake in Deere & Company in the second quarter valued at $25,000. Activest Wealth Management increased 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 acquiring an additional 55 shares during the last quarter. Marshall & Sullivan Inc. WA purchased a new position in shares of Deere & Company in the 2nd quarter valued at about $38,000. Livelsberger Financial Advisory acquired a new stake in shares of Deere & Company during the 2nd quarter worth about $39,000. Finally, Center for Financial Planning Inc. lifted its stake 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 purchasing an additional 61 shares during the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Deere & Company news, CEO John C. May II sold 11,106 shares of the stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $500.08, for a total transaction of $5,553,888.48. Following the completion of the sale, the chief executive officer directly owned 112,453 shares of the company’s stock, valued at approximately $56,235,496.24. This trade represents a 8.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.29% of the stock is currently owned by corporate insiders.

Deere & Company Stock Down 5.7%

Shares of NYSE:DE opened at $469.95 on Thursday. Deere & Company has a 1-year low of $403.01 and a 1-year high of $533.78. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.19 and a quick ratio of 1.98. The stock has a market cap of $127.04 billion, a P/E ratio of 24.57, a P/E/G ratio of 3.05 and a beta of 1.04. The firm has a fifty day moving average price of $467.30 and a 200 day moving average price of $490.94.

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

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Citigroup dropped their price target on shares of Deere & Company from $525.00 to $515.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 7th. Sanford C. Bernstein increased their target price on shares of Deere & Company from $487.00 to $521.00 and gave the company a “market perform” rating in a research report on Thursday, November 13th. Wells Fargo & Company began coverage on shares of Deere & Company in a research note on Thursday, November 13th. They set an “overweight” rating and a $543.00 price target on the stock. DA Davidson decreased their price objective on shares of Deere & Company from $595.00 to $580.00 and set a “buy” rating for the company in a research note on Monday, August 18th. Finally, UBS Group reiterated a “buy” rating on shares of Deere & Company in a research report on Tuesday. One investment 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 company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $519.85.

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.