Campbell Newman Asset Management Inc. Sells 2,364 Shares of Deere & Company (NYSE:DE)

Campbell Newman Asset Management Inc. decreased its stake in shares of Deere & Company (NYSE:DE) by 7.0% during the 4th quarter, HoldingsChannel.com reports. The firm 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 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in DE. Fairscale Capital LLC acquired a new stake in shares of Deere & Company during the 2nd quarter worth about $26,000. Livelsberger Financial Advisory bought a new stake in Deere & Company during the 3rd quarter worth about $32,000. Modus Advisors LLC acquired a new stake in Deere & Company in the 4th quarter valued at about $32,000. Centennial Bank AR raised its stake in shares of Deere & Company by 420.0% in the second quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 84 shares during the last quarter. Finally, Continuum Advisory LLC lifted its position in shares of Deere & Company by 155.8% during the third quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock worth $43,000 after purchasing an additional 67 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. UBS Group raised their price target on shares of Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Oppenheimer lifted their target price on Deere & Company from $448.00 to $477.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. Morgan Stanley upped their price target on Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a research note on Monday, November 25th. Citigroup lowered their price objective on Deere & Company from $470.00 to $430.00 and set a “neutral” rating for the company in a research report on Tuesday. Finally, Truist Financial lifted their price target on shares of Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Eleven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $442.83.

Deere & Company Stock Up 0.3 %

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

Deere & Company (NYSE:DE) last released its earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.89 by $0.66. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The business had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.20 billion. During the same quarter in the prior year, the company posted $8.26 earnings per share. Deere & Company’s revenue was down 32.8% on a year-over-year basis. Sell-side analysts predict that Deere & Company will post 19.41 earnings per share for the current fiscal year.

Deere & Company Increases Dividend

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

Deere & Company 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.