Deere & Company (NYSE:DE) Stock Position Decreased by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC decreased its position in Deere & Company (NYSE:DE - Free Report) 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 institutional investor 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 approximately 0.05% of Deere & Company worth $53,741,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. True Wealth Design LLC boosted its holdings in shares of 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 boosted its stake in Deere & Company by 725.0% in the first 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 last quarter. Private Wealth Management Group LLC bought a new position in shares of Deere & Company during the 4th quarter valued at approximately $29,000. Bfsg LLC purchased a new stake in shares of Deere & Company during the 4th quarter worth approximately $30,000. Finally, Livelsberger Financial Advisory bought a new stake in shares of Deere & Company in the 4th quarter worth approximately $30,000. Hedge funds and other institutional investors own 68.58% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on DE. DA Davidson dropped their price target on Deere & Company from $483.00 to $465.00 and set a "buy" rating on the stock in a research report on Monday, May 20th. HSBC lowered shares of Deere & Company from a "buy" rating to a "hold" rating in a research report on Monday. Truist Financial reaffirmed a "buy" rating and issued a $443.00 price objective (up from $439.00) on shares of Deere & Company in a report on Friday, August 16th. Oppenheimer cut their price target on Deere & Company from $465.00 to $448.00 and set an "outperform" rating for the company in a report on Monday, July 22nd. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on Deere & Company from $402.00 to $389.00 and set a "hold" rating for the company in a report on Thursday, August 8th. Fifteen analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $421.90.

Deere & Company Price Performance

NYSE:DE traded up $4.49 during trading hours on Wednesday, hitting $377.08. 1,249,147 shares of the stock traded hands, compared to its average volume of 1,545,077. The stock has a 50 day moving average price of $367.84 and a 200 day moving average price of $380.05. Deere & Company has a 1 year low of $340.20 and a 1 year high of $423.35. The company has a market cap of $103.91 billion, a price-to-earnings ratio of 11.35, a price-to-earnings-growth ratio of 1.59 and a beta of 0.93. The company has a quick ratio of 1.80, a current ratio of 2.01 and a debt-to-equity ratio of 1.81.

Deere & Company (NYSE:DE - Get Free Report) last released its earnings results on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, topping the consensus estimate of $5.63 by $0.66. The firm had revenue of $11.39 billion for the quarter, compared to the consensus estimate of $10.94 billion. Deere & Company had a net margin of 16.15% and a return on equity of 42.26%. The company's quarterly revenue was down 20.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $10.20 earnings per share. Sell-side analysts forecast that Deere & Company will post 25.41 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 8th. Shareholders of record on Friday, June 28th were issued a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend was Friday, June 28th. Deere & Company's dividend payout ratio is presently 17.70%.

Insiders Place Their Bets

In related news, insider Cory J. Reed sold 13,370 shares of the business's stock in a transaction on Monday, June 24th. The shares were sold at an average price of $377.63, for a total value of $5,048,913.10. Following the sale, the insider now owns 41,642 shares in the company, valued at $15,725,268.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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.