Campbell Newman Asset Management Inc. Acquires 78 Shares of Deere & Company (NYSE:DE)

Campbell Newman Asset Management Inc. grew its holdings in shares of Deere & Company (NYSE:DE) by 0.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,299 shares of the industrial products company’s stock after purchasing an additional 78 shares during the quarter. Campbell Newman Asset Management Inc.’s holdings in Deere & Company were worth $14,690,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Deere & Company by 0.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 90,020 shares of the industrial products company’s stock worth $42,250,000 after buying an additional 826 shares in the last quarter. Tritonpoint Wealth LLC lifted its holdings in shares of Deere & Company by 13.4% in the first quarter. Tritonpoint Wealth LLC now owns 769 shares of the industrial products company’s stock worth $362,000 after buying an additional 91 shares in the last quarter. BNC Wealth Management LLC lifted its holdings in shares of Deere & Company by 1,396.5% in the first quarter. BNC Wealth Management LLC now owns 9,039 shares of the industrial products company’s stock worth $4,242,000 after buying an additional 8,435 shares in the last quarter. Everhart Financial Group Inc. lifted its holdings in shares of Deere & Company by 8.0% in the first quarter. Everhart Financial Group Inc. now owns 2,060 shares of the industrial products company’s stock worth $967,000 after buying an additional 153 shares in the last quarter. Finally, Jacksonville Wealth Management LLC lifted its holdings in shares of Deere & Company by 0.7% in the first quarter. Jacksonville Wealth Management LLC now owns 5,989 shares of the industrial products company’s stock worth $2,811,000 after buying an additional 39 shares in the last quarter. Institutional investors own 68.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on DE shares. Raymond James increased their price target on shares of Deere & Company from $530.00 to $560.00 and gave the stock an “outperform” rating in a report on Friday, May 16th. Melius raised shares of Deere & Company from a “hold” rating to a “buy” rating in a research note on Friday, June 6th. Evercore ISI raised their target price on shares of Deere & Company from $455.00 to $493.00 and gave the company an “in-line” rating in a research note on Monday, May 19th. Barclays increased their price target on shares of Deere & Company from $475.00 to $530.00 and gave the company an “overweight” rating in a research report on Friday, May 16th. Finally, DA Davidson reiterated a “buy” rating and set a $542.00 price target on shares of Deere & Company in a research report on Friday, May 16th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Deere & Company presently has a consensus rating of “Hold” and an average price target of $515.19.

Deere & Company Price Performance

DE opened at $509.04 on Friday. The stock has a 50-day moving average price of $487.24 and a 200-day moving average price of $468.51. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.22 and a quick ratio of 1.98. The firm has a market cap of $137.86 billion, a PE ratio of 22.56, a P/E/G ratio of 2.14 and a beta of 1.09. Deere & Company has a 1 year low of $340.20 and a 1 year high of $533.78.

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

Deere & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Monday, June 30th will be paid a dividend of $1.62 per share. The ex-dividend date is Monday, June 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.27%. Deere & Company’s dividend payout ratio is currently 31.35%.

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.