Holderness Investments Co. Sells 62 Shares of Deere & Company (NYSE:DE)

Holderness Investments Co. decreased its position in Deere & Company (NYSE:DE) by 2.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,466 shares of the industrial products company’s stock after selling 62 shares during the period. Holderness Investments Co.’s holdings in Deere & Company were worth $1,045,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of DE. Pineridge Advisors LLC raised its position in Deere & Company by 60.5% in the 4th quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock worth $29,000 after buying an additional 26 shares during the last quarter. Modus Advisors LLC purchased a new position in Deere & Company in the 4th quarter worth about $32,000. YANKCOM Partnership purchased a new position in Deere & Company in the 4th quarter worth about $34,000. Synergy Asset Management LLC purchased a new position in Deere & Company in the 4th quarter worth about $35,000. Finally, Continuum Advisory LLC raised its position in 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 buying an additional 67 shares during the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Trading Down 0.5 %

DE stock opened at $477.03 on Friday. Deere & Company has a 1-year low of $340.20 and a 1-year high of $515.05. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.22 and a quick ratio of 1.98. The company has a market capitalization of $129.47 billion, a price-to-earnings ratio of 21.15, a PEG ratio of 2.14 and a beta of 1.01. The business has a 50 day simple moving average of $471.98 and a two-hundred day simple moving average of $435.61.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share for the quarter, topping 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%. Research analysts anticipate that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently declared 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 of this dividend is Monday, March 31st. This represents a $6.48 annualized dividend and a yield of 1.36%. Deere & Company’s payout ratio is 28.72%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on DE shares. Truist Financial reissued a “buy” rating and issued a $546.00 target price (down previously from $550.00) on shares of Deere & Company in a research report on Friday, February 14th. Evercore ISI upped their price target on shares of Deere & Company from $437.00 to $455.00 and gave the company an “in-line” rating in a research report on Wednesday, February 19th. Argus set a $510.00 price target on shares of Deere & Company in a research report on Friday, March 7th. Morgan Stanley upped their price target on shares of Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a research report on Monday, November 25th. Finally, UBS Group upped their price target on shares of Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Deere & Company has an average rating of “Hold” and a consensus target price of $460.00.

Insider Activity

In other news, insider Rajesh Kalathur sold 24,580 shares of the 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 directly owns 74,878 shares in the company, valued at approximately $37,484,675.58. This represents a 24.71 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.29% of the company’s stock.

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.