Cullen Investment Group LTD. Sells 907 Shares of Deere & Company $DE

Cullen Investment Group LTD. lowered its position in Deere & Company (NYSE:DE) by 3.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,282 shares of the industrial products company’s stock after selling 907 shares during the period. Deere & Company comprises 1.4% of Cullen Investment Group LTD.’s holdings, making the stock its 14th largest position. Cullen Investment Group LTD.’s holdings in Deere & Company were worth $10,876,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Bouchey Financial Group Ltd grew its stake in Deere & Company by 4.4% in the third quarter. Bouchey Financial Group Ltd now owns 500 shares of the industrial products company’s stock valued at $229,000 after acquiring an additional 21 shares during the period. Silvant Capital Management LLC raised its position in shares of Deere & Company by 0.5% during the third quarter. Silvant Capital Management LLC now owns 4,449 shares of the industrial products company’s stock worth $2,034,000 after purchasing an additional 21 shares during the period. Blue Chip Partners LLC raised its position in shares of Deere & Company by 1.4% during the second quarter. Blue Chip Partners LLC now owns 1,574 shares of the industrial products company’s stock worth $801,000 after purchasing an additional 21 shares during the period. Forefront Wealth Partners LLC lifted its holdings in shares of Deere & Company by 4.1% during the 3rd quarter. Forefront Wealth Partners LLC now owns 564 shares of the industrial products company’s stock valued at $258,000 after purchasing an additional 22 shares in the last quarter. Finally, Highline Wealth Partners LLC lifted its holdings in shares of Deere & Company by 24.7% during the 3rd quarter. Highline Wealth Partners LLC now owns 116 shares of the industrial products company’s stock valued at $53,000 after purchasing an additional 23 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Down 0.8%

Shares of Deere & Company stock opened at $578.42 on Thursday. The business’s 50 day simple moving average is $577.34 and its 200 day simple moving average is $508.25. Deere & Company has a 52-week low of $404.42 and a 52-week high of $674.19. The firm has a market cap of $156.24 billion, a PE ratio of 32.61, a P/E/G ratio of 2.04 and a beta of 0.96. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.96 and a current ratio of 2.21.

Deere & Company (NYSE:DE) last released its quarterly earnings results 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. The firm had revenue of $9.61 billion during the quarter, compared to the consensus estimate of $7.50 billion. Deere & Company had a return on equity of 18.93% and a net margin of 10.29%.The business’s revenue was up 17.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.19 EPS. On average, analysts predict that Deere & Company will post 19.32 earnings per share 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. Stockholders of record on Tuesday, March 31st will be given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Tuesday, March 31st. Deere & Company’s payout ratio is currently 36.53%.

Analysts Set New Price Targets

A number of research firms recently issued reports on DE. Weiss Ratings reissued a “hold (c+)” rating on shares of Deere & Company in a research note on Monday, December 29th. Truist Financial upped their price target on shares of Deere & Company from $612.00 to $793.00 and gave the company a “buy” rating in a report on Friday, February 20th. Sanford C. Bernstein upped their price target on shares of Deere & Company from $521.00 to $615.00 and gave the company a “market perform” rating in a report on Friday, February 20th. Wells Fargo & Company increased their price objective on shares of Deere & Company from $543.00 to $750.00 and gave the stock an “overweight” rating in a research report on Friday, February 20th. Finally, Robert W. Baird raised their price objective on shares of Deere & Company from $467.00 to $675.00 and gave the stock a “neutral” rating in a report on Friday, February 20th. Sixteen analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Deere & Company presently has a consensus rating of “Moderate Buy” and an average target price of $644.70.

Insider Buying and Selling at Deere & Company

In other Deere & Company news, insider Cory J. Reed sold 12,000 shares of Deere & Company stock in a transaction on Wednesday, January 14th. The shares were sold at an average price of $510.00, for a total value of $6,120,000.00. Following the sale, the insider directly owned 20,792 shares in the company, valued at approximately $10,603,920. The trade was a 36.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO John C. May II sold 41,472 shares of the business’s stock in a transaction dated Thursday, January 8th. The stock was sold at an average price of $501.49, for a total transaction of $20,797,793.28. Following the sale, the chief executive officer directly owned 117,970 shares in the company, valued at $59,160,775.30. This trade represents a 26.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.29% of the company’s stock.

Deere & 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.