Chevy Chase Trust Holdings LLC Has $58.37 Million Stake in Deere & Company (NYSE:DE)

Chevy Chase Trust Holdings LLC trimmed its stake in Deere & Company (NYSE:DE) by 2.8% during the third quarter, HoldingsChannel.com reports. The fund owned 139,873 shares of the industrial products company’s stock after selling 3,961 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Deere & Company were worth $58,373,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Transcend Capital Advisors LLC boosted its position in Deere & Company by 10.8% in the second quarter. Transcend Capital Advisors LLC now owns 793 shares of the industrial products company’s stock valued at $296,000 after buying an additional 77 shares in the last quarter. Mather Group LLC. boosted its holdings in shares of Deere & Company by 27.5% in the 2nd quarter. Mather Group LLC. now owns 2,794 shares of the industrial products company’s stock worth $1,148,000 after acquiring an additional 602 shares in the last quarter. Olistico Wealth LLC bought a new stake in Deere & Company during the 2nd quarter worth approximately $37,000. Apella Capital LLC increased its holdings in Deere & Company by 2.1% during the 2nd quarter. Apella Capital LLC now owns 2,202 shares of the industrial products company’s stock valued at $768,000 after purchasing an additional 45 shares in the last quarter. Finally, First Affirmative Financial Network bought a new position in Deere & Company in the 2nd quarter valued at $217,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on DE shares. HSBC lowered 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 report on Friday, August 16th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a research note on Thursday, August 8th. Morgan Stanley increased their price target on shares of Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a research note on Monday, November 25th. Finally, Hsbc Global Res cut shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 19th. Twelve equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $436.41.

Deere & Company Price Performance

Deere & Company stock opened at $462.70 on Tuesday. The company has a current ratio of 2.09, a quick ratio of 1.90 and a debt-to-equity ratio of 1.89. The firm has a market capitalization of $126.59 billion, a P/E ratio of 18.07, a PEG ratio of 1.99 and a beta of 0.93. The business has a 50-day moving average of $413.25 and a 200-day moving average of $388.13. Deere & Company has a 1 year low of $340.20 and a 1 year high of $469.39.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, beating the consensus estimate of $3.90 by $0.65. The firm had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.20 billion. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The business’s quarterly revenue was down 32.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $8.26 earnings per share. On average, equities analysts anticipate that Deere & Company will post 19.52 EPS for the current year.

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.