Hollencrest Capital Management Sells 175 Shares of Deere & Company (NYSE:DE)

Hollencrest Capital Management reduced its stake in shares of Deere & Company (NYSE:DE) by 64.8% during the 4th quarter, HoldingsChannel reports. The fund owned 95 shares of the industrial products company’s stock after selling 175 shares during the period. Hollencrest Capital Management’s holdings in Deere & Company were worth $40,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes 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 period. Modus Advisors LLC bought a new position in Deere & Company during the fourth quarter valued at $32,000. YANKCOM Partnership purchased a new stake in shares of Deere & Company in the fourth quarter valued at $34,000. Synergy Asset Management LLC purchased a new stake in shares of Deere & Company in the fourth quarter valued at $35,000. Finally, Continuum Advisory LLC lifted its holdings in shares of Deere & Company by 155.8% in the 3rd quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock worth $43,000 after acquiring an additional 67 shares during the last quarter. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Trading Down 0.8 %

Shares of NYSE DE opened at $471.49 on Thursday. Deere & Company has a 1-year low of $340.20 and a 1-year high of $515.05. The business has a fifty day moving average price of $464.49 and a 200 day moving average price of $431.94. The stock has a market capitalization of $127.97 billion, a P/E ratio of 20.90, a price-to-earnings-growth ratio of 2.14 and a beta of 1.01. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.22 and a quick ratio of 1.98.

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

Deere & Company Dividend Announcement

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

Insiders Place Their Bets

In other news, insider Rajesh Kalathur sold 24,580 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $500.61, for a total value of $12,304,993.80. Following the completion of the sale, the insider now owns 74,878 shares of the company’s stock, valued at $37,484,675.58. This trade represents a 24.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.29% of the company’s stock.

Analyst Upgrades and Downgrades

DE has been the topic of a number of recent analyst reports. Robert W. Baird reissued a “neutral” rating and issued a $501.00 price objective on shares of Deere & Company in a research report on Monday, March 3rd. StockNews.com cut Deere & Company from a “hold” rating to a “sell” rating in a report on Saturday, March 1st. Barclays increased their target price on Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Truist Financial reissued a “buy” rating and set a $546.00 target price (down from $550.00) on shares of Deere & Company in a research note on Friday, February 14th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Deere & Company from $470.00 to $500.00 and gave the company a “neutral” rating in a report on Monday, February 10th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Deere & Company currently has a consensus rating of “Hold” and an average target price of $460.00.

Deere & Company Company Profile

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.