Hollencrest Capital Management Decreases Stake in Deere & Company (NYSE:DE)

Hollencrest Capital Management lessened its stake in shares of Deere & Company (NYSE:DE) by 64.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 95 shares of the industrial products company’s stock after selling 175 shares during the quarter. Hollencrest Capital Management’s holdings in Deere & Company were worth $40,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Pineridge Advisors LLC raised its holdings in Deere & Company by 60.5% during the 4th quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock valued at $29,000 after buying an additional 26 shares during the last quarter. Modus Advisors LLC purchased a new position in shares of Deere & Company in the fourth quarter valued at about $32,000. YANKCOM Partnership bought a new position in shares of Deere & Company during the fourth quarter valued at about $34,000. Synergy Asset Management LLC bought a new position in shares of Deere & Company during the fourth quarter valued at about $35,000. Finally, Continuum Advisory LLC boosted its holdings in shares of Deere & Company by 155.8% during the third quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock worth $43,000 after purchasing an additional 67 shares during the period. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Insider Activity at Deere & Company

In other Deere & Company news, insider Rajesh Kalathur sold 24,580 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $500.61, for a total transaction of $12,304,993.80. Following the completion of the transaction, the insider now owns 74,878 shares in the company, valued at $37,484,675.58. This trade represents a 24.71 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.29% of the stock is currently owned by corporate insiders.

Deere & Company Price Performance

NYSE:DE opened at $471.49 on Thursday. The business’s 50-day simple moving average is $464.49 and its two-hundred day simple moving average is $431.94. Deere & Company has a 52 week low of $340.20 and a 52 week high of $515.05. The stock has a market cap of $127.97 billion, a PE ratio of 20.90, a P/E/G ratio of 2.14 and a beta of 1.01. The company has a quick ratio of 1.98, a current ratio of 2.22 and a debt-to-equity ratio of 1.94.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.14 by $0.05. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. As a group, analysts forecast that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 8th. Stockholders of record on Monday, March 31st will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.37%. The ex-dividend date is Monday, March 31st. Deere & Company’s dividend payout ratio (DPR) is presently 28.72%.

Wall Street Analysts Forecast Growth

DE has been the topic of a number of research analyst reports. UBS Group boosted their price target on Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Morgan Stanley boosted their target price on Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a research note on Monday, November 25th. JPMorgan Chase & Co. raised their price target on Deere & Company from $470.00 to $500.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. StockNews.com cut Deere & Company from a “hold” rating to a “sell” rating in a research report on Saturday, March 1st. Finally, Evercore ISI raised their target price on Deere & Company from $437.00 to $455.00 and gave the company an “in-line” rating in a research note on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $460.00.

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.