Brookstone Capital Management Cuts Holdings in Deere & Company (NYSE:DE)

Brookstone Capital Management decreased its position in Deere & Company (NYSE:DE – Get Rating) by 4.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,693 shares of the industrial products company’s stock after selling 336 shares during the period. Brookstone Capital Management’s holdings in Deere & Company were worth $2,854,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Cetera Investment Advisers grew its position in shares of Deere & Company by 13.5% in the second quarter. Cetera Investment Advisers now owns 19,222 shares of the industrial products company’s stock valued at $5,756,000 after purchasing an additional 2,291 shares during the period. California Public Employees Retirement System grew its position in shares of Deere & Company by 17.5% in the third quarter. California Public Employees Retirement System now owns 633,261 shares of the industrial products company’s stock valued at $211,440,000 after purchasing an additional 94,311 shares during the period. Mutual Advisors LLC grew its position in shares of Deere & Company by 9.3% in the third quarter. Mutual Advisors LLC now owns 3,824 shares of the industrial products company’s stock valued at $1,277,000 after purchasing an additional 324 shares during the period. Engineers Gate Manager LP acquired a new stake in shares of Deere & Company in the third quarter valued at about $374,000. Finally, Cambridge Investment Research Advisors Inc. grew its position in shares of Deere & Company by 7.9% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 56,260 shares of the industrial products company’s stock valued at $18,784,000 after purchasing an additional 4,128 shares during the period. Institutional investors and hedge funds own 75.72% of the company’s stock.

Wall Street Analysts Forecast Growth

DE has been the topic of a number of recent research reports. Credit Suisse Group boosted their price target on shares of Deere & Company from $447.00 to $582.00 and gave the stock an “outperform” rating in a research report on Friday, November 25th. Morgan Stanley boosted their price target on shares of Deere & Company from $522.00 to $537.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 21st. BMO Capital Markets boosted their price target on shares of Deere & Company from $375.00 to $450.00 and gave the stock a “market perform” rating in a research report on Monday, November 28th. Sanford C. Bernstein boosted their price target on shares of Deere & Company from $364.00 to $398.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 21st. Finally, UBS Group boosted their price target on shares of Deere & Company from $374.00 to $452.00 and gave the stock a “neutral” rating in a research report on Friday, November 25th. Eight equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $460.81.

Deere & Company Price Performance

Deere & Company stock opened at $385.50 on Friday. The company’s 50 day simple moving average is $417.58 and its 200-day simple moving average is $403.13. The company has a market capitalization of $114.23 billion, a price-to-earnings ratio of 14.30, a price-to-earnings-growth ratio of 1.04 and a beta of 1.05. Deere & Company has a 1 year low of $283.81 and a 1 year high of $448.40. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.76 and a current ratio of 2.07.

Deere & Company (NYSE:DE – Get Rating) last released its quarterly earnings results on Friday, February 17th. The industrial products company reported $6.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.53 by $1.02. The business had revenue of $11.40 billion for the quarter, compared to the consensus estimate of $11.14 billion. Deere & Company had a net margin of 14.71% and a return on equity of 41.17%. The business’s revenue was up 33.7% on a year-over-year basis. During the same period in the previous year, the firm earned $2.92 EPS. As a group, equities research analysts expect that Deere & Company will post 30.58 earnings per share for the current year.

Deere & Company Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 8th. Investors of record on Friday, March 31st will be paid a dividend of $1.25 per share. This is an increase from Deere & Company’s previous quarterly dividend of $1.20. This represents a $5.00 annualized dividend and a yield of 1.30%. The ex-dividend date is Thursday, March 30th. Deere & Company’s dividend payout ratio is presently 17.80%.

Deere & Company Profile

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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.