Deere & Company (NYSE:DE) Stock Position Lowered by Campbell Newman Asset Management Inc.

Campbell Newman Asset Management Inc. lowered its position in shares of Deere & Company (NYSE:DE) by 7.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 31,221 shares of the industrial products company’s stock after selling 2,364 shares during the quarter. Campbell Newman Asset Management Inc.’s holdings in Deere & Company were worth $13,228,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of DE. Fairscale Capital LLC acquired a new stake in shares of Deere & Company during the 2nd quarter valued at $26,000. Livelsberger Financial Advisory acquired a new position in shares of Deere & Company in the 3rd quarter worth $32,000. Modus Advisors LLC acquired a new stake in shares of Deere & Company during the fourth quarter worth $32,000. Centennial Bank AR lifted its holdings in shares of Deere & Company by 420.0% during the second quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 84 shares during the last quarter. Finally, Continuum Advisory LLC boosted its position in shares of Deere & Company by 155.8% in the 3rd quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock valued at $43,000 after purchasing an additional 67 shares during the period. 68.58% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have issued reports on DE. UBS Group boosted their price objective on Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Barclays boosted their price target on shares of Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Citigroup decreased their price objective on shares of Deere & Company from $470.00 to $430.00 and set a “neutral” rating for the company in a research note on Tuesday. Truist Financial boosted their target price on shares of Deere & Company from $538.00 to $550.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Finally, Oppenheimer raised their target price on Deere & Company from $448.00 to $477.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. Eleven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Deere & Company has an average rating of “Hold” and a consensus price target of $442.83.

Deere & Company Stock Performance

Shares of NYSE DE traded up $1.28 during trading hours on Wednesday, hitting $433.59. 69,565 shares of the stock were exchanged, compared to its average volume of 1,110,459. Deere & Company has a one year low of $340.20 and a one year high of $469.39. The company’s 50 day moving average is $429.20 and its 200 day moving average is $400.87. The company has a debt-to-equity ratio of 1.89, a current ratio of 2.09 and a quick ratio of 1.90. The firm has a market capitalization of $118.09 billion, a P/E ratio of 16.94, a P/E/G ratio of 1.88 and a beta of 0.98.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.89 by $0.66. The company had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9.20 billion. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The business’s quarterly revenue was down 32.8% compared to the same quarter last year. During the same period in the prior year, the company earned $8.26 earnings per share. On average, research analysts expect that Deere & Company will post 19.41 EPS for the current year.

Deere & Company Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st will be issued a $1.62 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $6.48 dividend on an annualized basis and a yield of 1.49%. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s dividend payout ratio (DPR) is 25.31%.

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.