Camden National Bank Trims Stock Position in Deere & Company (NYSE:DE)

Camden National Bank lessened its stake in shares of Deere & Company (NYSE:DE) by 1.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 26,317 shares of the industrial products company’s stock after selling 283 shares during the quarter. Deere & Company comprises about 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.

Several other institutional investors have also modified their holdings of DE. Fairscale Capital LLC acquired a new position in shares of Deere & Company in the 2nd quarter valued at $26,000. Pineridge Advisors LLC increased its holdings 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 valued at $27,000 after acquiring an additional 58 shares during the period. Livelsberger Financial Advisory acquired a new position in shares of Deere & Company in the 3rd quarter valued at $32,000. Olistico Wealth LLC acquired a new position in shares of Deere & Company in the 2nd quarter valued at $37,000. Finally, Centennial Bank AR increased its holdings in shares of Deere & Company by 420.0% in the 2nd quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 84 shares during the period. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Analyst Upgrades and Downgrades

DE has been the topic of a number of recent research reports. Hsbc Global Res cut shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, August 19th. Barclays boosted their price objective on shares of Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a research note on Friday. Truist Financial boosted their price objective on shares of Deere & Company from $496.00 to $538.00 and gave the company a “buy” rating in a research note on Friday. UBS Group boosted their price objective on shares of Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a research note on Friday. Finally, 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. Thirteen investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $431.61.

Deere & Company Price Performance

Deere & Company stock opened at $446.65 on Friday. Deere & Company has a 52 week low of $340.20 and a 52 week high of $447.50. The company has a quick ratio of 1.87, a current ratio of 2.09 and a debt-to-equity ratio of 1.89. The firm’s 50-day simple moving average is $406.99 and its 200 day simple moving average is $386.49. The firm has a market capitalization of $122.20 billion, a PE ratio of 17.45, a P/E/G ratio of 1.70 and a beta of 0.93.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, topping the consensus estimate of $3.90 by $0.65. The business 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 revenue for the quarter was down 32.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $8.26 EPS. On average, equities research analysts predict that Deere & Company will post 21.41 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Monday, September 30th were issued a $1.47 dividend. The ex-dividend date was Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a yield of 1.32%. Deere & Company’s dividend payout ratio (DPR) is 22.97%.

Deere & Company Company Profile

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.