Columbia Asset Management Sells 71,274 Shares of Deere & Company (NYSE:DE)

Columbia Asset Management lessened its holdings in shares of Deere & Company (NYSE:DE) by 86.3% in the 1st quarter, Holdings Channel.com reports. 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 approximately 1.0% of Columbia Asset Management’s portfolio, making the stock its 29th largest position. Columbia Asset Management’s holdings in Deere & Company were worth $5,327,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Robertson Stephens Wealth Management LLC lifted its stake in shares of Deere & Company by 2.2% in the 4th quarter. Robertson Stephens Wealth Management LLC now owns 1,002 shares of the industrial products company’s stock valued at $426,000 after purchasing an additional 22 shares during the period. Quent Capital LLC increased its holdings in Deere & Company by 2.8% in the fourth quarter. Quent Capital LLC now owns 889 shares of the industrial products company’s stock worth $377,000 after purchasing an additional 24 shares in the last quarter. Valeo Financial Advisors LLC lifted its stake in Deere & Company by 0.3% in the fourth quarter. Valeo Financial Advisors LLC now owns 8,019 shares of the industrial products company’s stock valued at $3,398,000 after buying an additional 24 shares during the period. Massachusetts Wealth Management boosted its holdings in shares of Deere & Company by 0.5% during the 4th quarter. Massachusetts Wealth Management now owns 5,127 shares of the industrial products company’s stock worth $2,172,000 after buying an additional 25 shares in the last quarter. Finally, Coppell Advisory Solutions LLC grew its position in shares of Deere & Company by 2.5% during the 4th quarter. Coppell Advisory Solutions LLC now owns 1,011 shares of the industrial products company’s stock worth $432,000 after buying an additional 25 shares during the period. Institutional investors own 68.58% of the company’s stock.

Wall Street Analysts Forecast Growth

DE has been the topic of a number of research reports. The Goldman Sachs Group reiterated a “buy” rating on shares of Deere & Company in a research report on Thursday, May 15th. Truist Financial upped their price objective on shares of Deere & Company from $546.00 to $619.00 and gave the company a “buy” rating in a report on Friday, May 16th. JPMorgan Chase & Co. raised their target price on Deere & Company from $490.00 to $540.00 and gave the company a “neutral” rating in a research note on Friday, May 16th. Morgan Stanley boosted their target price on Deere & Company from $450.00 to $500.00 and gave the company an “overweight” rating in a research report on Wednesday, April 16th. Finally, Robert W. Baird upped their price target on Deere & Company from $501.00 to $514.00 and gave the stock a “neutral” rating in a research note on Friday, May 16th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $515.19.

Deere & Company Trading Down 1.0%

NYSE DE opened at $508.21 on Thursday. Deere & Company has a 12 month low of $340.20 and a 12 month high of $533.78. The company has a current ratio of 2.22, a quick ratio of 1.98 and a debt-to-equity ratio of 1.94. The firm has a market capitalization of $137.94 billion, a P/E ratio of 22.53, a PEG ratio of 2.14 and a beta of 1.08. The business has a fifty day simple moving average of $477.57 and a 200 day simple moving average of $464.39.

Deere & Company (NYSE:DE) last released its quarterly 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. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. The company had revenue of $11.17 billion for the quarter, compared to analyst estimates of $10.80 billion. During the same period last year, the firm earned $8.53 earnings per share. The firm’s revenue was down 17.9% on a year-over-year basis. On average, analysts predict that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Monday, June 30th will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.28%. The ex-dividend date is Monday, June 30th. Deere & Company’s dividend payout ratio is presently 31.35%.

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.