Chilton Capital Management LLC Boosts Stake in Deere & Company (NYSE:DE)

Chilton Capital Management LLC raised its holdings in shares of Deere & Company (NYSE:DE) by 78.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 570 shares of the industrial products company’s stock after buying an additional 251 shares during the quarter. Chilton Capital Management LLC’s holdings in Deere & Company were worth $213,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Tompkins Financial Corp boosted its holdings in shares of Deere & Company by 2.6% in the 1st quarter. Tompkins Financial Corp now owns 981 shares of the industrial products company’s stock worth $403,000 after purchasing an additional 25 shares in the last quarter. Global Retirement Partners LLC boosted its holdings in shares of Deere & Company by 0.7% in the 1st quarter. Global Retirement Partners LLC now owns 3,768 shares of the industrial products company’s stock worth $1,548,000 after purchasing an additional 26 shares in the last quarter. Field & Main Bank boosted its holdings in shares of Deere & Company by 0.7% in the 1st quarter. Field & Main Bank now owns 4,050 shares of the industrial products company’s stock worth $1,663,000 after purchasing an additional 27 shares in the last quarter. Range Financial Group LLC boosted its holdings in shares of Deere & Company by 5.2% in the 1st quarter. Range Financial Group LLC now owns 548 shares of the industrial products company’s stock worth $225,000 after purchasing an additional 27 shares in the last quarter. Finally, Cooper Financial Group boosted its holdings in shares of Deere & Company by 2.4% in the 1st quarter. Cooper Financial Group now owns 1,146 shares of the industrial products company’s stock worth $471,000 after purchasing an additional 27 shares in the last quarter. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Truist Financial reissued a “buy” rating and issued a $443.00 target price (up previously from $439.00) on shares of Deere & Company in a research note on Friday, August 16th. HSBC lowered Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, August 19th. Stifel Nicolaus boosted their target price on Deere & Company from $425.00 to $450.00 and gave the company a “buy” rating in a research note on Friday, May 17th. Deutsche Bank Aktiengesellschaft lowered their target price on Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a research note on Thursday, August 8th. Finally, DA Davidson lowered their target price on Deere & Company from $483.00 to $465.00 and set a “buy” rating for the company in a research note on Monday, May 20th. Fourteen investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $414.11.

Deere & Company Stock Up 1.0 %

Shares of NYSE:DE opened at $385.74 on Tuesday. Deere & Company has a 52-week low of $340.20 and a 52-week high of $423.35. The firm has a market capitalization of $106.30 billion, a P/E ratio of 11.61, a P/E/G ratio of 1.28 and a beta of 0.93. The stock has a 50 day moving average price of $368.09 and a 200-day moving average price of $379.92. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.87 and a current ratio of 2.07.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, topping the consensus estimate of $5.63 by $0.66. The company had revenue of $11.39 billion for the quarter, compared to the consensus estimate of $10.94 billion. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The firm’s quarterly revenue was down 20.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $10.20 EPS. As a group, equities research analysts anticipate that Deere & Company will post 25.09 EPS for the current fiscal year.

Deere & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Monday, September 30th will be paid a $1.47 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $5.88 annualized dividend and a dividend yield of 1.52%. Deere & Company’s payout ratio is currently 17.70%.

Insider Buying and Selling

In related news, insider Cory J. Reed sold 13,370 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The stock was 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 approximately $15,725,268.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.26% of the stock is currently owned by company insiders.

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.