Camden National Bank Lowers Stock Holdings in Deere & Company (NYSE:DE)

Camden National Bank trimmed its stake in Deere & Company (NYSE:DE) by 1.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,317 shares of the industrial products company’s stock after selling 283 shares during the period. Deere & Company comprises 1.6% of Camden National Bank’s holdings, making the stock its 26th biggest holding. Camden National Bank’s holdings in Deere & Company were worth $10,983,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Pineridge Advisors LLC lifted its position in shares of Deere & Company by 725.0% in the 1st quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 58 shares during the period. Fairscale Capital LLC bought a new position in shares of Deere & Company during the 2nd quarter worth approximately $26,000. Livelsberger Financial Advisory bought a new position in shares of Deere & Company during the 3rd quarter worth approximately $32,000. Olistico Wealth LLC bought a new position in shares of Deere & Company during the 2nd quarter worth approximately $37,000. Finally, Centennial Bank AR raised its stake in shares of Deere & Company by 420.0% during the 2nd quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 84 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Price Performance

Deere & Company stock opened at $446.65 on Friday. Deere & Company has a 12-month low of $340.20 and a 12-month high of $447.50. The stock has a market cap of $122.20 billion, a P/E ratio of 17.45, a PEG ratio of 1.70 and a beta of 0.93. The company has a 50-day moving average price of $406.99 and a 200 day moving average price of $386.49. The company has a current ratio of 2.09, a quick ratio of 1.87 and a debt-to-equity ratio of 1.89.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.90 by $0.65. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The firm had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9.20 billion. During the same period last year, the business earned $8.26 earnings per share. Deere & Company’s revenue was down 32.8% compared to the same quarter last year. Sell-side analysts anticipate that Deere & Company will post 21.41 earnings per share for the current year.

Deere & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Monday, September 30th were paid a $1.47 dividend. This represents a $5.88 annualized dividend and a dividend yield of 1.32%. The ex-dividend date of this dividend was Monday, September 30th. Deere & Company’s payout ratio is 22.97%.

Wall Street Analysts Forecast Growth

DE has been the topic of a number of recent analyst reports. HSBC lowered shares of Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, August 19th. Bank of America increased their price objective on shares of Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a research note on Friday, August 16th. Evercore ISI increased their price objective on shares of Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a research note on Monday, August 19th. UBS Group increased their price objective on shares of Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a research note on Friday. Finally, BMO Capital Markets started coverage on shares of Deere & Company in a research note on Friday, August 9th. They issued a “market perform” rating and a $400.00 price objective on the stock. Thirteen analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, Deere & Company presently has an average rating of “Hold” and a consensus target price of $431.61.

About Deere & Company

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.