Columbia Asset Management Sells 2,412 Shares of Deere & Company $DE

Columbia Asset Management lowered its position in Deere & Company (NYSE:DE) by 21.2% during the 2nd quarter, Holdings Channel reports. The fund 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 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Assenagon Asset Management S.A. boosted its holdings in Deere & Company by 58.9% in the first quarter. Assenagon Asset Management S.A. now owns 13,625 shares of the industrial products company’s stock worth $6,395,000 after acquiring an additional 5,053 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd boosted its holdings in Deere & Company by 10.7% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 8,280 shares of the industrial products company’s stock worth $3,863,000 after acquiring an additional 798 shares in the last quarter. Providence Capital Advisors LLC boosted its holdings in Deere & Company by 2.1% in the first quarter. Providence Capital Advisors LLC now owns 14,639 shares of the industrial products company’s stock worth $6,871,000 after acquiring an additional 303 shares in the last quarter. Bragg Financial Advisors Inc boosted its holdings in Deere & Company by 12.7% in the first quarter. Bragg Financial Advisors Inc now owns 7,213 shares of the industrial products company’s stock worth $3,386,000 after acquiring an additional 813 shares in the last quarter. Finally, ASR Vermogensbeheer N.V. bought a new position in Deere & Company in the first quarter worth approximately $13,588,000. Institutional investors own 68.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Daiwa Capital Markets dropped their target price on Deere & Company from $565.00 to $530.00 and set an “outperform” rating on the stock in a report on Thursday, September 25th. Oppenheimer dropped their target price on Deere & Company from $566.00 to $512.00 and set an “outperform” rating on the stock in a report on Thursday, September 18th. DA Davidson dropped their target price on Deere & Company from $595.00 to $580.00 and set a “buy” rating on the stock in a report on Monday, August 18th. Truist Financial dropped their target price on Deere & Company from $619.00 to $602.00 and set a “buy” rating on the stock in a report on Friday, August 15th. Finally, Melius Research upgraded Deere & Company from a “hold” rating to a “strong-buy” rating in a report on Friday, June 6th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $518.06.

Deere & Company Stock Performance

Shares of Deere & Company stock opened at $456.78 on Wednesday. The business’s fifty day simple moving average is $488.06 and its 200 day simple moving average is $489.62. The firm has a market capitalization of $123.48 billion, a P/E ratio of 23.88, a price-to-earnings-growth ratio of 2.99 and a beta of 1.00. Deere & Company has a 12 month low of $387.03 and a 12 month high of $533.78. The company has a current ratio of 2.19, a quick ratio of 1.98 and a debt-to-equity ratio of 1.76.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, August 14th. The industrial products company reported $4.75 EPS for the quarter, topping analysts’ consensus estimates of $4.62 by $0.13. The business had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.33 billion. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.Deere & Company’s quarterly revenue was down 9.0% compared to the same quarter last year. During the same period last year, the company posted $6.29 earnings per share. As a group, analysts anticipate that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

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

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.