Cullinan Associates Inc. Grows Position in Deere & Company $DE

Cullinan Associates Inc. increased its position in shares of Deere & Company (NYSE:DE) by 11.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 22,834 shares of the industrial products company’s stock after buying an additional 2,267 shares during the quarter. Cullinan Associates Inc.’s holdings in Deere & Company were worth $10,631,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Deere & Company by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 22,583,185 shares of the industrial products company’s stock worth $10,514,053,000 after buying an additional 198,332 shares during the last quarter. Capital World Investors grew its stake in shares of Deere & Company by 5.5% in the 3rd quarter. Capital World Investors now owns 6,233,740 shares of the industrial products company’s stock valued at $2,850,687,000 after purchasing an additional 322,582 shares during the last quarter. Fisher Asset Management LLC grew its stake in shares of Deere & Company by 5.5% in the 3rd quarter. Fisher Asset Management LLC now owns 2,722,018 shares of the industrial products company’s stock valued at $1,244,670,000 after purchasing an additional 141,790 shares during the last quarter. M&T Bank Corp grew its stake in shares of Deere & Company by 1,199.8% in the 4th quarter. M&T Bank Corp now owns 1,864,701 shares of the industrial products company’s stock valued at $868,149,000 after purchasing an additional 1,721,239 shares during the last quarter. Finally, Invesco Ltd. grew its stake in shares of Deere & Company by 21.7% in the 3rd quarter. Invesco Ltd. now owns 1,815,007 shares of the industrial products company’s stock valued at $829,930,000 after purchasing an additional 323,512 shares during the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Analyst Ratings Changes

DE has been the topic of several analyst reports. UBS Group lifted their target price on Deere & Company from $535.00 to $775.00 and gave the company a “buy” rating in a research note on Friday, February 20th. Robert W. Baird dropped their price objective on shares of Deere & Company from $675.00 to $580.00 and set a “neutral” rating on the stock in a research note on Thursday, April 2nd. Royal Bank Of Canada raised their target price on shares of Deere & Company from $541.00 to $736.00 and gave the stock an “outperform” rating in a research note on Friday, February 20th. Citigroup lowered their target price on shares of Deere & Company from $675.00 to $625.00 and set a “neutral” rating on the stock in a report on Monday, March 9th. Finally, Wolfe Research lifted their target price on shares of Deere & Company from $550.00 to $660.00 and gave the company an “outperform” rating in a report on Tuesday, March 31st. Sixteen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $655.45.

Deere & Company Trading Up 5.6%

Shares of DE stock opened at $591.19 on Friday. The business’s fifty day moving average price is $590.37 and its 200 day moving average price is $528.84. Deere & Company has a 1-year low of $433.00 and a 1-year high of $674.19. The firm has a market capitalization of $159.68 billion, a PE ratio of 33.33, a P/E/G ratio of 1.95 and a beta of 0.98. The company has a debt-to-equity ratio of 1.59, a current ratio of 2.21 and a quick ratio of 1.96.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, February 19th. The industrial products company reported $2.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.90 by $0.52. Deere & Company had a return on equity of 18.93% and a net margin of 10.29%.The firm had revenue of $9.61 billion for the quarter, compared to analyst estimates of $7.50 billion. During the same quarter in the prior year, the company posted $3.19 earnings per share. Deere & Company’s quarterly revenue was up 17.5% on a year-over-year basis. As a group, sell-side analysts forecast that Deere & Company will post 18.01 EPS for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 8th. Investors of record on Tuesday, March 31st will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Tuesday, March 31st. Deere & Company’s dividend payout ratio is currently 36.53%.

Deere & Company Company Profile

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.