Columbia Asset Management Has $4.55 Million Position in Deere & Company $DE

Key Points

• Columbia Asset Management reduced its holdings in Deere & Company by 21.2%, bringing its position to 8,939 shares valued at approximately $4.55 million at the end of the second quarter.
• Institutional investors and hedge funds collectively own 68.58% of Deere & Company's stock, with Truist Financial Corp increasing its holdings by 30.3% in the same period.
• Deere & Company announced a quarterly dividend of $1.62 per share, with an annualized yield of 1.4%, payable on November 10th to investors recorded by September 30th.

Columbia Asset Management lessened its position in Deere & Company (NYSE:DE - Free Report) by 21.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,939 shares of the industrial products company's stock after selling 2,412 shares during the period. Columbia Asset Management's holdings in Deere & Company were worth $4,545,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Truist Financial Corp increased its holdings in Deere & Company by 30.3% in the 2nd quarter. Truist Financial Corp now owns 236,269 shares of the industrial products company's stock worth $120,140,000 after purchasing an additional 54,967 shares in the last quarter. Union Bancaire Privee UBP SA increased its holdings in Deere & Company by 18.6% in the 2nd quarter. Union Bancaire Privee UBP SA now owns 10,130 shares of the industrial products company's stock worth $4,957,000 after purchasing an additional 1,589 shares in the last quarter. Trivium Point Advisory LLC increased its holdings in Deere & Company by 7.3% in the 2nd quarter. Trivium Point Advisory LLC now owns 571 shares of the industrial products company's stock worth $290,000 after purchasing an additional 39 shares in the last quarter. Bluesphere Advisors LLC acquired a new position in Deere & Company in the 2nd quarter worth about $719,000. Finally, Lee Johnson Capital Management LLC acquired a new position in Deere & Company in the 2nd quarter worth about $777,000. Institutional investors and hedge funds own 68.58% of the company's stock.

Wall Street Analysts Forecast Growth

DE has been the subject of several recent research reports. Melius raised Deere & Company from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Wall Street Zen cut Deere & Company from a "hold" rating to a "sell" rating in a research note on Friday, September 26th. Truist Financial decreased their price target on Deere & Company from $619.00 to $602.00 and set a "buy" rating for the company in a research note on Friday, August 15th. DA Davidson decreased their price target on Deere & Company from $595.00 to $580.00 and set a "buy" rating for the company in a research note on Monday, August 18th. Finally, Robert W. Baird decreased their price target on Deere & Company from $520.00 to $488.00 and set a "neutral" rating for the company in a research note on Friday, August 15th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, Deere & Company currently has a consensus rating of "Moderate Buy" and an average target price of $518.06.

Deere & Company Trading Down 1.9%

NYSE DE opened at $456.78 on Wednesday. The business has a 50 day simple moving average of $488.06 and a 200 day simple moving average of $489.62. Deere & Company has a one year low of $387.03 and a one year high of $533.78. The stock has a market capitalization of $123.48 billion, a P/E ratio of 23.88, a P/E/G ratio of 2.99 and a beta of 1.00. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.19 and a quick ratio of 1.98.

Deere & Company (NYSE:DE - Get Free Report) last released its earnings results on Thursday, August 14th. The industrial products company reported $4.75 EPS for the quarter, topping the consensus estimate of $4.62 by $0.13. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The business had revenue of $10.36 billion during the quarter, compared to analysts' expectations of $10.33 billion. During the same quarter last year, the firm posted $6.29 earnings per share. The firm's revenue was down 9.0% on a year-over-year basis. Research analysts expect that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Tuesday, September 30th will be paid a dividend of $1.62 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.48 annualized dividend and a yield of 1.4%. Deere & Company's dividend payout ratio (DPR) is currently 33.87%.

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.

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