Columbia Asset Management Reduces Position in Deere & Company (NYSE:DE)

Columbia Asset Management reduced its holdings in Deere & Company (NYSE:DE - Free Report) by 86.3% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 11,351 shares of the industrial products company's stock after selling 71,274 shares during the quarter. Deere & Company makes up about 1.0% of Columbia Asset Management's portfolio, making the stock its 29th largest holding. Columbia Asset Management's holdings in Deere & Company were worth $5,327,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the business. Brighton Jones LLC increased its position in Deere & Company by 39.1% during the 4th quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company's stock valued at $1,927,000 after purchasing an additional 1,278 shares during the period. Golden State Equity Partners boosted its position in shares of Deere & Company by 270.3% during the 4th quarter. Golden State Equity Partners now owns 474 shares of the industrial products company's stock valued at $201,000 after purchasing an additional 346 shares in the last quarter. Mather Group LLC. grew its stake in Deere & Company by 7.8% during the fourth quarter. Mather Group LLC. now owns 1,355 shares of the industrial products company's stock worth $574,000 after purchasing an additional 98 shares during the period. Avitas Wealth Management LLC boosted its stake in Deere & Company by 0.7% during the fourth quarter. Avitas Wealth Management LLC now owns 7,155 shares of the industrial products company's stock worth $3,032,000 after acquiring an additional 48 shares in the last quarter. Finally, Sargent Investment Group LLC acquired a new stake in Deere & Company in the fourth quarter worth $362,000. Institutional investors own 68.58% of the company's stock.

Deere & Company Stock Performance

DE traded up $8.87 during trading on Friday, hitting $519.62. 1,473,759 shares of the company traded hands, compared to its average volume of 1,396,336. Deere & Company has a one year low of $340.20 and a one year high of $533.78. The stock's fifty day moving average is $478.37 and its 200 day moving average is $465.12. The company has a quick ratio of 1.98, a current ratio of 2.22 and a debt-to-equity ratio of 1.94. The firm has a market cap of $140.73 billion, a P/E ratio of 23.03, a price-to-earnings-growth ratio of 2.14 and a beta of 1.09.

Deere & Company (NYSE:DE - Get Free Report) last released its earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share for the quarter, beating analysts' consensus estimates of $5.72 by $0.92. The firm had revenue of $11.17 billion during the quarter, compared to the consensus estimate of $10.80 billion. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. The company's revenue was down 17.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $8.53 EPS. As a group, equities analysts predict that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Monday, June 30th will be given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date of this dividend is Monday, June 30th. Deere & Company's dividend payout ratio is currently 31.35%.

Analyst Ratings Changes

Several brokerages have issued reports on DE. Citigroup cut their price target on Deere & Company from $550.00 to $525.00 and set a "neutral" rating on the stock in a report on Friday, May 30th. Morgan Stanley boosted their target price on shares of Deere & Company from $450.00 to $500.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 16th. Baird R W cut shares of Deere & Company from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 3rd. Bank of America lifted their price target on Deere & Company from $495.00 to $556.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Finally, BMO Capital Markets reissued a "market perform" rating and issued a $460.00 price objective (up from $425.00) on shares of Deere & Company in a research note on Wednesday, May 21st. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $515.19.

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.