Chevy Chase Trust Holdings LLC Lowers Holdings in Deere & Company (NYSE:DE)

Chevy Chase Trust Holdings LLC lessened its stake in Deere & Company (NYSE:DE) by 1.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 143,834 shares of the industrial products company’s stock after selling 2,809 shares during the quarter. Chevy Chase Trust Holdings LLC owned 0.05% of Deere & Company worth $53,741,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of DE. True Wealth Design LLC raised its position in Deere & Company by 1,180.0% in the 4th quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock worth $26,000 after buying an additional 59 shares during the last quarter. Pineridge Advisors LLC raised its position in 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 buying an additional 58 shares during the last quarter. Private Wealth Management Group LLC bought a new stake in shares of Deere & Company during the 4th quarter valued at about $29,000. Bfsg LLC bought a new stake in shares of Deere & Company during the 4th quarter valued at about $30,000. Finally, Livelsberger Financial Advisory bought a new stake in shares of Deere & Company during the 4th quarter valued at about $30,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Price Performance

DE traded up $4.91 during trading on Wednesday, reaching $377.50. 570,081 shares of the company traded hands, compared to its average volume of 1,540,859. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.80 and a current ratio of 2.01. Deere & Company has a 12-month low of $340.20 and a 12-month high of $423.35. The firm has a fifty day simple moving average of $367.71 and a 200 day simple moving average of $380.07. The company has a market cap of $104.03 billion, a P/E ratio of 11.22, a PEG ratio of 1.59 and a beta of 0.93.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.63 by $0.66. Deere & Company had a net margin of 16.15% and a return on equity of 42.26%. The business had revenue of $11.39 billion during the quarter, compared to analyst estimates of $10.94 billion. During the same period last year, the firm posted $10.20 EPS. The company’s revenue was down 20.3% on a year-over-year basis. On average, equities analysts forecast that Deere & Company will post 25.41 EPS for the current year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 8th. Stockholders of record on Friday, June 28th were given a dividend of $1.47 per share. The ex-dividend date was Friday, June 28th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.56%. Deere & Company’s dividend payout ratio is currently 17.70%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on DE. Daiwa Capital Markets boosted their price target on Deere & Company from $400.00 to $420.00 and gave the company an “overweight” rating in a research note on Wednesday, May 15th. Raymond James began coverage on Deere & Company in a research note on Friday, June 28th. They set an “outperform” rating and a $420.00 price target for the company. HSBC downgraded Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday. TD Cowen boosted their price target on Deere & Company from $383.00 to $390.00 and gave the company a “hold” rating in a research note on Friday, May 17th. Finally, Bank of America boosted their price target on Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a research note on Friday, August 16th. Fifteen equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Deere & Company currently has a consensus rating of “Hold” and an average price target of $421.90.

Insider Activity

In other news, insider Cory J. Reed sold 13,370 shares of the stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $377.63, for a total transaction of $5,048,913.10. Following the completion of the transaction, the insider now directly owns 41,642 shares in the company, valued at approximately $15,725,268.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.26% of the company’s stock.

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.