Chapin Davis Inc. Sells 102 Shares of Deere & Company (NYSE:DE)

Chapin Davis Inc. reduced its holdings in Deere & Company (NYSE:DE) by 5.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,737 shares of the industrial products company’s stock after selling 102 shares during the period. Chapin Davis Inc.’s holdings in Deere & Company were worth $649,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC grew its stake in Deere & Company by 15.9% in the fourth quarter. International Assets Investment Management LLC now owns 2,102 shares of the industrial products company’s stock valued at $841,000 after purchasing an additional 288 shares in the last quarter. Tennessee Valley Asset Management Partners acquired a new position in Deere & Company during the fourth quarter worth $200,000. SVB Wealth LLC increased its holdings in Deere & Company by 1.8% during the fourth quarter. SVB Wealth LLC now owns 4,797 shares of the industrial products company’s stock worth $1,918,000 after buying an additional 87 shares during the last quarter. United Asset Strategies Inc. bought a new stake in Deere & Company during the fourth quarter worth $203,000. Finally, Wealth Alliance lifted its stake in Deere & Company by 4.6% in the fourth quarter. Wealth Alliance now owns 955 shares of the industrial products company’s stock valued at $382,000 after acquiring an additional 42 shares during the last quarter. 68.58% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on DE shares. Morgan Stanley upped their target price on shares of Deere & Company from $430.00 to $450.00 in a report on Wednesday, May 15th. Raymond James began coverage on Deere & Company in a research report on Friday, June 28th. They issued an “outperform” rating and a $420.00 price objective for the company. BMO Capital Markets initiated coverage on Deere & Company in a report on Friday, August 9th. They set a “market perform” rating and a $400.00 target price on the stock. DA Davidson cut their price target on Deere & Company from $483.00 to $465.00 and set a “buy” rating for the company in a report on Monday, May 20th. Finally, Oppenheimer reduced their price objective on shares of Deere & Company from $465.00 to $448.00 and set an “outperform” rating for the company in a research report on Monday, July 22nd. Thirteen equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $422.35.

Deere & Company Price Performance

Shares of NYSE:DE traded up $4.66 during trading on Friday, reaching $377.92. 2,103,088 shares of the company traded hands, compared to its average volume of 1,549,985. The firm has a market capitalization of $104.14 billion, a PE ratio of 11.38, a PEG ratio of 1.59 and a beta of 0.93. Deere & Company has a 52 week low of $340.20 and a 52 week high of $425.42. The company has a quick ratio of 1.80, a current ratio of 2.01 and a debt-to-equity ratio of 1.81. The company’s 50 day moving average is $367.47 and its two-hundred day moving average is $380.36.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, beating analysts’ consensus estimates of $5.63 by $0.66. The business had revenue of $11.39 billion during the quarter, compared to the consensus estimate of $10.94 billion. Deere & Company had a return on equity of 42.26% and a net margin of 16.15%. Deere & Company’s revenue for the quarter 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. As a group, sell-side analysts predict that Deere & Company will post 25.41 earnings per share for the current year.

Deere & Company Announces Dividend

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

Insider Buying and Selling

In other news, insider Cory J. Reed sold 13,370 shares of Deere & Company stock in a transaction 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 transaction, the insider now owns 41,642 shares in the company, valued at approximately $15,725,268.46. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.26% of the stock is currently owned by company insiders.

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.