Campbell Newman Asset Management Inc. Sells 1,172 Shares of Deere & Company $DE

Key Points

• Campbell Newman Asset Management Inc. reduced its stake in Deere & Company by 3.7%, now holding 30,127 shares worth approximately $15.3 million.
• Several institutional investors have recently increased their positions in Deere, contributing to its ownership of 68.58% by such investors.
• Deere & Company reported a quarterly EPS of $4.75, exceeding estimates, while also announcing a dividend payout of $1.62 to be paid out in November.

Campbell Newman Asset Management Inc. trimmed its holdings in shares of Deere & Company (NYSE:DE - Free Report) by 3.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,127 shares of the industrial products company's stock after selling 1,172 shares during the period. Campbell Newman Asset Management Inc.'s holdings in Deere & Company were worth $15,319,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the stock. Activest Wealth Management raised its position in Deere & Company by 2,750.0% in 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 period. Hughes Financial Services LLC purchased a new stake in shares of Deere & Company during the 1st quarter worth approximately $29,000. Cornerstone Planning Group LLC increased its stake in shares of Deere & Company by 116.1% during the 1st quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company's stock worth $31,000 after purchasing an additional 36 shares during the last quarter. Marshall & Sullivan Inc. WA bought a new stake in shares of Deere & Company in the 2nd quarter worth approximately $38,000. Finally, Livelsberger Financial Advisory purchased a new position in Deere & Company in the second quarter valued at approximately $39,000. Institutional investors own 68.58% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Melius Research raised Deere & Company from a "hold" rating to a "strong-buy" rating in a research report on Friday, June 6th. Evercore ISI set a $491.00 price objective on Deere & Company in a report on Tuesday, August 19th. DA Davidson lowered their price objective on Deere & Company from $595.00 to $580.00 and set a "buy" rating on the stock in a research note on Monday, August 18th. Melius upgraded shares of Deere & Company from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Finally, Wall Street Zen lowered shares of Deere & Company from a "hold" rating to a "sell" rating in a research report on Friday. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and nine have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Deere & Company has an average rating of "Moderate Buy" and a consensus target price of $518.06.

Deere & Company Trading Up 0.2%

Shares of DE opened at $465.09 on Tuesday. Deere & Company has a twelve month low of $387.03 and a twelve month high of $533.78. The stock has a market cap of $125.73 billion, a PE ratio of 24.31, a P/E/G ratio of 2.99 and a beta of 1.00. 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 business's 50-day moving average price is $489.05 and its 200-day moving average price is $489.85.

Deere & Company (NYSE:DE - Get Free Report) last released its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 EPS for the quarter, beating analysts' consensus estimates of $4.62 by $0.13. The company had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.33 billion. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. Deere & Company's revenue was down 9.0% compared to the same quarter last year. During the same period last year, the business earned $6.29 earnings per share. On average, equities analysts forecast that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Tuesday, September 30th will be issued a $1.62 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.4%. Deere & Company's dividend payout ratio is presently 33.87%.

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.

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