Campbell Newman Asset Management Inc. Reduces Stock Position in Deere & Company (NYSE:DE)

Campbell Newman Asset Management Inc. lessened its stake in shares of Deere & Company (NYSE:DE - Free Report) by 7.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 31,221 shares of the industrial products company's stock after selling 2,364 shares during the quarter. Campbell Newman Asset Management Inc.'s holdings in Deere & Company were worth $13,228,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Fairscale Capital LLC acquired a new stake in Deere & Company during the second quarter worth approximately $26,000. Livelsberger Financial Advisory acquired a new stake in shares of Deere & Company during the third quarter worth $32,000. Modus Advisors LLC purchased a new stake in shares of Deere & Company in the fourth quarter valued at $32,000. Centennial Bank AR increased its stake in Deere & Company by 420.0% in the second quarter. Centennial Bank AR now owns 104 shares of the industrial products company's stock valued at $39,000 after purchasing an additional 84 shares during the last quarter. Finally, Continuum Advisory LLC lifted its position in Deere & Company by 155.8% during the third quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company's stock worth $43,000 after buying an additional 67 shares during the period. Hedge funds and other institutional investors own 68.58% of the company's stock.

Analysts Set New Price Targets

Several analysts have commented on DE shares. JPMorgan Chase & Co. lifted their price target on Deere & Company from $450.00 to $470.00 and gave the company a "neutral" rating in a report on Wednesday. Jefferies Financial Group lowered shares of Deere & Company from a "buy" rating to a "hold" rating and set a $510.00 price target for the company. in a research report on Friday, December 6th. Morgan Stanley increased their price target on shares of Deere & Company from $401.00 to $450.00 and gave the stock an "overweight" rating in a research note on Monday, November 25th. Oppenheimer boosted their price objective on shares of Deere & Company from $448.00 to $477.00 and gave the company an "outperform" rating in a research note on Friday, November 22nd. Finally, UBS Group increased their target price on Deere & Company from $404.00 to $462.00 and gave the stock a "neutral" rating in a research report on Friday, November 22nd. Eleven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $442.83.

Deere & Company Stock Down 0.8 %

Deere & Company stock traded down $3.47 during midday trading on Wednesday, hitting $428.84. 1,432,048 shares of the company were exchanged, compared to its average volume of 1,259,350. The company has a market cap of $116.80 billion, a PE ratio of 16.75, a price-to-earnings-growth ratio of 1.88 and a beta of 0.98. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $469.39. The company's fifty day moving average price is $429.20 and its 200-day moving average price is $400.87. The company has a debt-to-equity ratio of 1.89, a current ratio of 2.09 and a quick ratio of 1.90.

Deere & Company (NYSE:DE - Get Free Report) last posted its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.89 by $0.66. The company had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.20 billion. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The business's quarterly revenue was down 32.8% on a year-over-year basis. During the same quarter last year, the firm posted $8.26 earnings per share. On average, research analysts predict that Deere & Company will post 19.41 EPS for the current fiscal year.

Deere & Company Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st will be given a $1.62 dividend. This is a boost from Deere & Company's previous quarterly dividend of $1.47. This represents a $6.48 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date is Tuesday, December 31st. Deere & Company's dividend payout ratio is presently 25.31%.

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.