Chilton Capital Management LLC Lowers Holdings in Deere & Company $DE

Chilton Capital Management LLC trimmed its stake in Deere & Company (NYSE:DE) by 30.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 66,371 shares of the industrial products company’s stock after selling 28,988 shares during the quarter. Chilton Capital Management LLC’s holdings in Deere & Company were worth $30,349,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of DE. Mid American Wealth Advisory Group Inc. purchased a new stake in Deere & Company during the 2nd quarter valued at about $25,000. Howard Hughes Medical Institute purchased a new stake in shares of Deere & Company during the second quarter valued at approximately $27,000. Center for Financial Planning Inc. increased its position in shares of Deere & Company by 406.7% during the second quarter. Center for Financial Planning Inc. now owns 76 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 61 shares in the last quarter. Soundwatch Capital LLC bought a new stake in shares of Deere & Company during the second quarter valued at approximately $41,000. Finally, Lynch Asset Management Inc. purchased a new position in Deere & Company in the 3rd quarter worth approximately $46,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Trading Up 0.4%

Deere & Company stock opened at $516.51 on Tuesday. Deere & Company has a 52-week low of $404.42 and a 52-week high of $533.78. The company has a market cap of $140.01 billion, a P/E ratio of 27.90, a P/E/G ratio of 1.97 and a beta of 1.00. The company has a quick ratio of 2.01, a current ratio of 2.22 and a debt-to-equity ratio of 1.68. The business has a 50-day simple moving average of $483.42 and a two-hundred day simple moving average of $481.65.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Wednesday, November 26th. The industrial products company reported $3.93 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.96 by ($0.03). Deere & Company had a return on equity of 20.54% and a net margin of 11.00%.The business had revenue of $12.39 billion during the quarter, compared to analysts’ expectations of $9.77 billion. During the same period in the previous year, the business posted $4.55 EPS. The business’s quarterly revenue was up 14.1% compared to the same quarter last year. Analysts predict that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 9th. Stockholders of record on Wednesday, December 31st will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Wednesday, December 31st. Deere & Company’s dividend payout ratio is 35.01%.

Insider Buying and Selling at Deere & Company

In other news, CEO John C. May II sold 41,472 shares of Deere & Company stock in a transaction dated Thursday, January 8th. The stock was sold at an average price of $501.49, for a total transaction of $20,797,793.28. Following the transaction, the chief executive officer directly owned 117,970 shares of the company’s stock, valued at $59,160,775.30. The trade was a 26.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Cory J. Reed sold 12,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 14th. The shares were sold at an average price of $510.00, for a total value of $6,120,000.00. Following the transaction, the insider owned 20,792 shares of the company’s stock, valued at approximately $10,603,920. This trade represents a 36.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 64,578 shares of company stock worth $32,471,682 over the last quarter. 0.29% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have commented on DE shares. Wolfe Research increased their target price on Deere & Company from $520.00 to $550.00 and gave the company an “outperform” rating in a research note on Friday, January 2nd. Keefe, Bruyette & Woods reissued an “outperform” rating on shares of Deere & Company in a research report on Monday, December 1st. Wells Fargo & Company started coverage on shares of Deere & Company in a research note on Thursday, November 13th. They set an “overweight” rating and a $543.00 target price on the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of Deere & Company in a research note on Monday, December 29th. Finally, BMO Capital Markets reissued a “market perform” rating and set a $460.00 price objective on shares of Deere & Company in a report on Tuesday, December 9th. Fifteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, Deere & Company has a consensus rating of “Moderate Buy” and an average target price of $524.20.

Deere & Company Company Profile

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.