Chevy Chase Trust Holdings LLC Sells 705 Shares of Deere & Company (NYSE:DE)

Chevy Chase Trust Holdings LLC lowered its position in shares of Deere & Company (NYSE:DE - Free Report) by 0.5% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 135,341 shares of the industrial products company's stock after selling 705 shares during the period. Chevy Chase Trust Holdings LLC's holdings in Deere & Company were worth $63,522,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of DE. Assenagon Asset Management S.A. grew its position in shares of Deere & Company by 58.9% in the 1st quarter. Assenagon Asset Management S.A. now owns 13,625 shares of the industrial products company's stock worth $6,395,000 after buying an additional 5,053 shares during the last quarter. Generali Investments CEE investicni spolecnost a.s. bought a new position in Deere & Company in the 4th quarter worth $847,000. BankPlus Trust Department purchased a new stake in shares of Deere & Company in the 4th quarter worth about $1,127,000. Stenger Family Office LLC purchased a new stake in shares of Deere & Company in the 4th quarter worth about $3,144,000. Finally, First Business Financial Services Inc. bought a new position in Deere & Company in the fourth quarter worth about $4,254,000. Hedge funds and other institutional investors own 68.58% of the company's stock.

Deere & Company Stock Performance

NYSE:DE traded up $0.09 during trading hours on Tuesday, reaching $514.17. The company had a trading volume of 1,215,547 shares, compared to its average volume of 1,385,529. The firm has a market cap of $139.25 billion, a price-to-earnings ratio of 24.88, a PEG ratio of 3.31 and a beta of 1.09. The company has a current ratio of 2.11, a quick ratio of 1.89 and a debt-to-equity ratio of 1.76. The firm's 50 day moving average price is $496.05 and its 200-day moving average price is $471.31. Deere & Company has a 52 week low of $340.20 and a 52 week high of $533.78.

Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly earnings data on Thursday, May 15th. The industrial products company reported $6.64 EPS for the quarter, topping the consensus estimate of $5.72 by $0.92. Deere & Company had a return on equity of 24.39% and a net margin of 12.40%. The company had revenue of $11.17 billion during the quarter, compared to analyst estimates of $10.80 billion. During the same quarter in the previous year, the company posted $8.53 earnings per share. Deere & Company's revenue was down 17.9% compared to the same quarter last year. On average, analysts forecast that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Monday, June 30th will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.26%. The ex-dividend date of this dividend is Monday, June 30th. Deere & Company's dividend payout ratio (DPR) is presently 31.35%.

Analyst Ratings Changes

A number of research analysts have weighed in on DE shares. Melius Research upgraded Deere & Company from a "hold" rating to a "strong-buy" rating in a report on Friday, June 6th. Robert W. Baird increased their price objective on Deere & Company from $501.00 to $514.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. DA Davidson reaffirmed a "buy" rating and issued a $542.00 target price on shares of Deere & Company in a research report on Friday, May 16th. BMO Capital Markets reissued a "market perform" rating and set a $460.00 price target (up from $425.00) on shares of Deere & Company in a research report on Wednesday, May 21st. Finally, Bank of America upped their price objective on shares of Deere & Company from $495.00 to $556.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Deere & Company presently has a consensus rating of "Hold" and a consensus price target of $515.19.

About Deere & Company

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.