Cullinan Associates Inc. Has $12.42 Million Stock Position in Deere & Company $DE

Cullinan Associates Inc. cut its stake in Deere & Company (NYSE:DE) by 5.9% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 19,576 shares of the industrial products company’s stock after selling 1,228 shares during the period. Deere & Company accounts for 0.9% of Cullinan Associates Inc.’s portfolio, making the stock its 28th biggest position. Cullinan Associates Inc.’s holdings in Deere & Company were worth $12,418,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Greenwood Capital Associates LLC raised its holdings in Deere & Company by 15.7% during the 2nd quarter. Greenwood Capital Associates LLC now owns 10,398 shares of the industrial products company’s stock worth $6,596,000 after purchasing an additional 1,412 shares during the last quarter. Greenleaf Trust lifted its position in shares of Deere & Company by 2.0% in the 2nd quarter. Greenleaf Trust now owns 5,579 shares of the industrial products company’s stock worth $3,539,000 after purchasing an additional 108 shares during the period. Marvin & Palmer Associates Inc. boosted its stake in shares of Deere & Company by 67.6% in the 2nd quarter. Marvin & Palmer Associates Inc. now owns 9,279 shares of the industrial products company’s stock valued at $5,886,000 after purchasing an additional 3,743 shares during the last quarter. Trustmark Bank Trust Department boosted its stake in shares of Deere & Company by 2.1% in the 2nd quarter. Trustmark Bank Trust Department now owns 7,998 shares of the industrial products company’s stock valued at $5,073,000 after purchasing an additional 163 shares during the last quarter. Finally, New Mexico Educational Retirement Board increased its position in shares of Deere & Company by 9.6% during the second quarter. New Mexico Educational Retirement Board now owns 12,602 shares of the industrial products company’s stock worth $7,994,000 after buying an additional 1,100 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. DA Davidson lifted their target price on shares of Deere & Company from $685.00 to $760.00 and gave the stock a “buy” rating in a research note on Monday, August 24th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $752.00 price target on shares of Deere & Company in a research report on Monday, August 24th. JPMorgan Chase & Co. increased their price target on Deere & Company from $570.00 to $585.00 and gave the stock a “neutral” rating in a report on Friday, August 21st. Seaport Research Partners set a $570.00 price objective on Deere & Company in a research report on Friday, August 14th. Finally, Oppenheimer boosted their price objective on Deere & Company from $680.00 to $685.00 and gave the company an “outperform” rating in a research note on Thursday, August 20th. Fourteen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $653.48.

Deere & Company Stock Performance

NYSE:DE opened at $630.66 on Friday. The company has a quick ratio of 1.89, a current ratio of 2.10 and a debt-to-equity ratio of 1.45. Deere & Company has a twelve month low of $433.00 and a twelve month high of $674.19. The company has a fifty day moving average of $611.59 and a 200-day moving average of $593.34. The firm has a market capitalization of $170.24 billion, a P/E ratio of 35.04, a P/E/G ratio of 2.60 and a beta of 0.90.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, August 20th. The industrial products company reported $5.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.69 by $0.41. The business had revenue of $12.61 billion for the quarter, compared to analyst estimates of $10.81 billion. Deere & Company had a net margin of 10.16% and a return on equity of 18.10%. Deere & Company’s revenue was up 6.2% on a year-over-year basis. During the same period in the prior year, the firm earned $4.75 earnings per share. As a group, sell-side analysts anticipate that Deere & Company will post 18.11 EPS for the current year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 9th. Stockholders of record on Wednesday, September 30th will be issued a dividend of $1.62 per share. The ex-dividend date is Wednesday, September 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.0%. Deere & Company’s dividend payout ratio is currently 36.00%.

About Deere & Company

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.