Granite Investment Partners LLC Sells 1,227 Shares of Deere & Company $DE

Granite Investment Partners LLC decreased its holdings in Deere & Company (NYSE:DE) by 3.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 39,840 shares of the industrial products company’s stock after selling 1,227 shares during the period. Deere & Company accounts for about 1.0% of Granite Investment Partners LLC’s portfolio, making the stock its 24th biggest holding. Granite Investment Partners LLC’s holdings in Deere & Company were worth $20,258,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Mid American Wealth Advisory Group Inc. purchased a new stake in Deere & Company during the 2nd quarter valued at approximately $25,000. Activest Wealth Management boosted its position in shares of Deere & Company by 2,750.0% during the first quarter. Activest Wealth Management now owns 57 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 55 shares during the last quarter. Marshall & Sullivan Inc. WA purchased a new position in Deere & Company during the second quarter valued at $38,000. Livelsberger Financial Advisory bought a new stake in Deere & Company in the 2nd quarter valued at $39,000. Finally, Center for Financial Planning Inc. lifted its stake in Deere & Company by 406.7% in the 2nd 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 in the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on DE. Royal Bank Of Canada reduced their target price on Deere & Company from $542.00 to $541.00 and set an “outperform” rating on the stock in a report on Friday. Zacks Research cut Deere & Company from a “hold” rating to a “strong sell” rating in a report on Monday, October 20th. DA Davidson reiterated a “buy” rating and set a $580.00 target price on shares of Deere & Company in a research report on Monday. Citigroup reduced 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 report on Tuesday, October 7th. Finally, Truist Financial upped their price target on shares of Deere & Company from $609.00 to $612.00 and gave the company a “buy” rating in a research note on Friday. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $519.45.

Insider Transactions at Deere & Company

In other Deere & Company news, CEO John C. May II sold 11,106 shares of the firm’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $500.08, for a total value of $5,553,888.48. Following the completion of the sale, the chief executive officer owned 112,453 shares of the company’s stock, valued at $56,235,496.24. This trade represents a 8.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.29% of the stock is currently owned by insiders.

Deere & Company Stock Up 0.7%

NYSE DE opened at $467.78 on Tuesday. The company has a quick ratio of 1.98, a current ratio of 2.19 and a debt-to-equity ratio of 1.76. The company has a fifty day moving average of $467.07 and a two-hundred day moving average of $490.14. The firm has a market capitalization of $126.45 billion, a price-to-earnings ratio of 24.45, a PEG ratio of 3.05 and a beta of 1.04. Deere & Company has a 52 week low of $403.01 and a 52 week high of $533.78.

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

Deere & Company Profile

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.