Cullinan Associates Inc. Purchases 755 Shares of Deere & Company (NYSE:DE)

Cullinan Associates Inc. increased its holdings in Deere & Company (NYSE:DE – Get Rating) by 3.0% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 26,315 shares of the industrial products company’s stock after buying an additional 755 shares during the period. Cullinan Associates Inc.’s holdings in Deere & Company were worth $11,283,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Cetera Investment Advisers increased its holdings in shares of Deere & Company by 13.5% in the 2nd quarter. Cetera Investment Advisers now owns 19,222 shares of the industrial products company’s stock worth $5,756,000 after buying an additional 2,291 shares during the last quarter. California Public Employees Retirement System increased its stake in 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 acquiring an additional 94,311 shares during the last quarter. Mutual Advisors LLC raised its position in Deere & Company by 9.3% during 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 in the last quarter. Engineers Gate Manager LP bought a new stake in Deere & Company during the third quarter worth about $374,000. Finally, Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Deere & Company by 7.9% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 56,260 shares of the industrial products company’s stock worth $18,784,000 after purchasing an additional 4,128 shares in the last quarter. Institutional investors own 75.72% of the company’s stock.

Deere & Company Stock Down 1.4 %

Shares of Deere & Company stock opened at $385.50 on Friday. The company has a current ratio of 2.07, a quick ratio of 1.76 and a debt-to-equity ratio of 1.64. Deere & Company has a 12-month low of $283.81 and a 12-month high of $448.40. The company has a market cap of $114.23 billion, a P/E ratio of 14.30, a PEG ratio of 1.04 and a beta of 1.05. The company’s fifty day simple moving average is $417.58 and its two-hundred day simple moving average is $403.13.

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

Deere & Company Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 8th. Stockholders of record on Friday, March 31st will be given a $1.25 dividend. The ex-dividend date is Thursday, March 30th. This represents a $5.00 annualized dividend and a dividend yield of 1.30%. This is a positive change from Deere & Company’s previous quarterly dividend of $1.20. Deere & Company’s dividend payout ratio is currently 17.80%.

Analyst Ratings Changes

A number of research firms recently weighed in on DE. The Goldman Sachs Group boosted their target price on Deere & Company from $420.00 to $462.00 and gave the stock a “buy” rating in a research report on Monday, November 28th. DA Davidson reaffirmed a “buy” rating and issued a $520.00 price objective on shares of Deere & Company in a research note on Tuesday, February 21st. Bank of America lifted their target price on shares of Deere & Company from $478.00 to $484.00 in a research report on Monday, February 20th. StockNews.com started coverage on shares of Deere & Company in a research report on Thursday. They set a “buy” rating for the company. Finally, Oppenheimer lifted their price objective on Deere & Company from $415.00 to $492.00 in a report on Wednesday, November 23rd. Eight analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, Deere & Company has a consensus rating of “Moderate Buy” and a consensus price target of $460.81.

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.