Campbell Newman Asset Management Inc. Sells 30,116 Shares of Deere & Company $DE

Campbell Newman Asset Management Inc. decreased its holdings in Deere & Company (NYSE:DE) by 97.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 830 shares of the industrial products company’s stock after selling 30,116 shares during the quarter. Campbell Newman Asset Management Inc.’s holdings in Deere & Company were worth $468,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in DE. Brighton Jones LLC raised its holdings in Deere & Company by 39.1% in the 4th quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company’s stock valued at $1,927,000 after acquiring an additional 1,278 shares in the last quarter. Schnieders Capital Management LLC. lifted its position in shares of Deere & Company by 7.8% during the 2nd quarter. Schnieders Capital Management LLC. now owns 2,076 shares of the industrial products company’s stock valued at $1,056,000 after acquiring an additional 150 shares during the period. Jump Financial LLC acquired a new stake in shares of Deere & Company during the 2nd quarter worth $2,153,000. NewEdge Advisors LLC grew its holdings in shares of Deere & Company by 6.0% during the 2nd quarter. NewEdge Advisors LLC now owns 18,758 shares of the industrial products company’s stock worth $9,538,000 after purchasing an additional 1,067 shares in the last quarter. Finally, Main Street Financial Solutions LLC increased its position in shares of Deere & Company by 6.7% in the second quarter. Main Street Financial Solutions LLC now owns 1,551 shares of the industrial products company’s stock worth $789,000 after purchasing an additional 97 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Price Performance

Deere & Company stock opened at $590.37 on Monday. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.95 and a current ratio of 2.18. Deere & Company has a 52 week low of $433.00 and a 52 week high of $674.19. The stock has a market capitalization of $159.36 billion, a P/E ratio of 33.45, a price-to-earnings-growth ratio of 2.18 and a beta of 0.92. The stock has a fifty day moving average of $573.71 and a 200-day moving average of $553.26.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, May 21st. The industrial products company reported $6.55 earnings per share for the quarter, topping the consensus estimate of $5.70 by $0.85. The business had revenue of $13.37 billion during the quarter, compared to the consensus estimate of $11.55 billion. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.Deere & Company’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period in the prior year, the company earned $6.64 EPS. On average, sell-side analysts expect that Deere & Company will post 18.13 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Tuesday, June 30th will be paid a dividend of $1.62 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $6.48 annualized dividend and a yield of 1.1%. Deere & Company’s payout ratio is presently 36.71%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on DE shares. Citigroup dropped their price target on Deere & Company from $625.00 to $595.00 and set a “neutral” rating for the company in a research note on Friday, May 22nd. Morgan Stanley increased their price objective on shares of Deere & Company from $560.00 to $730.00 and gave the stock an “overweight” rating in a research note on Monday, February 23rd. Wolfe Research raised their target price on shares of Deere & Company from $550.00 to $660.00 and gave the company an “outperform” rating in a report on Tuesday, March 31st. Royal Bank Of Canada restated an “outperform” rating and issued a $752.00 target price on shares of Deere & Company in a research report on Monday, June 1st. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $680.00 price target (down from $715.00) on shares of Deere & Company in a report on Wednesday, May 27th. Fourteen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $639.58.

Deere & Company Company Profile

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.