Breakwater Capital Group Has $934,000 Stock Position in Deere & Company (NYSE:DE)

Breakwater Capital Group lowered its position in shares of Deere & Company (NYSE:DE) by 9.1% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,274 shares of the industrial products company’s stock after selling 227 shares during the period. Breakwater Capital Group’s holdings in Deere & Company were worth $934,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of DE. Morgan Stanley raised its stake in Deere & Company by 1.3% during the 3rd quarter. Morgan Stanley now owns 5,089,159 shares of the industrial products company’s stock worth $1,920,548,000 after buying an additional 65,006 shares during the period. Parnassus Investments LLC boosted its holdings in shares of Deere & Company by 22.4% in the fourth quarter. Parnassus Investments LLC now owns 3,856,171 shares of the industrial products company’s stock worth $1,541,967,000 after acquiring an additional 705,771 shares during the period. Norges Bank bought a new position in shares of Deere & Company in the fourth quarter worth $1,248,036,000. Dimensional Fund Advisors LP boosted its holdings in shares of Deere & Company by 11.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,595,945 shares of the industrial products company’s stock worth $638,167,000 after acquiring an additional 160,369 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Deere & Company by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,570,773 shares of the industrial products company’s stock worth $628,105,000 after buying an additional 31,074 shares in the last quarter. Institutional investors own 68.58% of the company’s stock.

Insider Buying and Selling at Deere & Company

In other Deere & Company news, insider Cory J. Reed sold 13,370 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 41,642 shares in the company, valued at $15,725,268.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.26% of the stock is currently owned by insiders.

Deere & Company Price Performance

NYSE DE traded down $1.68 during mid-day trading on Friday, hitting $373.63. The stock had a trading volume of 6,689,701 shares, compared to its average volume of 1,409,983. 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 has a 50 day simple moving average of $385.32 and a 200 day simple moving average of $387.29. The company has a market cap of $102.96 billion, a price-to-earnings ratio of 11.25, a P/E/G ratio of 1.50 and a beta of 0.98. Deere & Company has a 52-week low of $353.15 and a 52-week high of $450.00.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, May 16th. The industrial products company reported $8.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.86 by $0.67. The business had revenue of $13.61 billion for the quarter, compared to analysts’ expectations of $13.29 billion. Deere & Company had a return on equity of 42.26% and a net margin of 16.15%. The business’s revenue was down 15.4% on a year-over-year basis. During the same quarter last year, the firm earned $9.65 earnings per share. Equities analysts forecast that Deere & Company will post 25.61 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 8th. Investors of record on Friday, June 28th will be issued a $1.47 dividend. This represents a $5.88 annualized dividend and a yield of 1.57%. The ex-dividend date is Friday, June 28th. Deere & Company’s dividend payout ratio is currently 17.70%.

Analyst Ratings Changes

Several research analysts have recently commented on DE shares. Stifel Nicolaus lifted their price objective on Deere & Company from $425.00 to $450.00 and gave the stock a “buy” rating in a report on Friday, May 17th. Oppenheimer restated an “outperform” rating and issued a $456.00 price objective on shares of Deere & Company in a report on Thursday, May 16th. TD Cowen boosted their target price on shares of Deere & Company from $383.00 to $390.00 and gave the company a “hold” rating in a research note on Friday, May 17th. DA Davidson decreased their target price on shares of Deere & Company from $483.00 to $465.00 and set a “buy” rating for the company in a research note on Monday, May 20th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Deere & Company from $425.00 to $385.00 and set a “neutral” rating for the company in a research report on Friday, May 17th. Eleven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, Deere & Company currently has a consensus rating of “Hold” and a consensus target price of $430.55.

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.