Watershed Asset Management L.L.C. Trims Stake in Deere & Company (NYSE:DE)

Watershed Asset Management L.L.C. lessened its stake in Deere & Company (NYSE:DE) by 46.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,650 shares of the industrial products company’s stock after selling 2,300 shares during the period. Deere & Company comprises approximately 1.2% of Watershed Asset Management L.L.C.’s investment portfolio, making the stock its 15th largest holding. Watershed Asset Management L.L.C.’s holdings in Deere & Company were worth $1,060,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Summit Global Investments acquired a new stake in shares of Deere & Company during the 3rd quarter valued at about $201,000. Capital Investment Advisors LLC purchased a new stake in shares of Deere & Company in the third quarter valued at approximately $1,491,000. Onyx Bridge Wealth Group LLC raised its stake in shares of Deere & Company by 8.7% during the 3rd quarter. Onyx Bridge Wealth Group LLC now owns 577 shares of the industrial products company’s stock worth $218,000 after buying an additional 46 shares during the period. Kozak & Associates Inc. lifted its position in shares of Deere & Company by 249.0% during the 3rd quarter. Kozak & Associates Inc. now owns 12,020 shares of the industrial products company’s stock valued at $4,550,000 after buying an additional 8,576 shares in the last quarter. Finally, Financial Enhancement Group LLC lifted its position in shares of Deere & Company by 12.3% during the 3rd quarter. Financial Enhancement Group LLC now owns 18,853 shares of the industrial products company’s stock valued at $7,363,000 after buying an additional 2,062 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Trading Down 0.6 %

Shares of NYSE DE traded down $2.32 during midday trading on Tuesday, reaching $397.29. 1,277,979 shares of the stock were exchanged, compared to its average volume of 1,487,179. The stock has a market capitalization of $110.59 billion, a P/E ratio of 11.57, a PEG ratio of 1.50 and a beta of 1.04. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.81 and a current ratio of 2.05. The company has a 50 day simple moving average of $386.42 and a 200 day simple moving average of $383.39. Deere & Company has a twelve month low of $345.55 and a twelve month high of $450.00.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, February 15th. The industrial products company reported $6.23 earnings per share for the quarter, topping the consensus estimate of $5.19 by $1.04. Deere & Company had a return on equity of 44.60% and a net margin of 16.38%. The company had revenue of $10.49 billion during the quarter, compared to analyst estimates of $10.30 billion. During the same period in the prior year, the business posted $6.55 earnings per share. The firm’s revenue for the quarter was down 8.0% compared to the same quarter last year. As a group, equities analysts expect that Deere & Company will post 27.4 earnings per share for the current year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Friday, March 29th will be issued a $1.47 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $5.88 annualized dividend and a yield of 1.48%. Deere & Company’s dividend payout ratio (DPR) is currently 17.12%.

Wall Street Analysts Forecast Growth

DE has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Deere & Company from $425.00 to $401.00 and set a “hold” rating for the company in a research report on Friday, February 16th. Melius lowered shares of Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Truist Financial assumed coverage on Deere & Company in a research note on Thursday, March 14th. They set a “buy” rating and a $494.00 price objective for the company. Morgan Stanley started coverage on Deere & Company in a research report on Monday, January 8th. They issued an “overweight” rating and a $430.00 target price on the stock. Finally, Stifel Nicolaus dropped their price target on Deere & Company from $435.00 to $425.00 and set a “buy” rating for the company in a research report on Friday, February 16th. Ten research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $433.28.

Deere & 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.