Cullinan Associates Inc. decreased its holdings in Deere & Company (NYSE:DE - Free Report) by 2.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 20,281 shares of the industrial products company's stock after selling 558 shares during the period. Cullinan Associates Inc.'s holdings in Deere & Company were worth $9,519,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Assenagon Asset Management S.A. increased its stake in shares of Deere & Company by 58.9% in the 1st quarter. Assenagon Asset Management S.A. now owns 13,625 shares of the industrial products company's stock valued at $6,395,000 after purchasing an additional 5,053 shares during the last quarter. Spectrum Financial Alliance Ltd LLC increased its stake in shares of Deere & Company by 2.9% in the 4th quarter. Spectrum Financial Alliance Ltd LLC now owns 49,613 shares of the industrial products company's stock valued at $21,021,000 after purchasing an additional 1,407 shares during the last quarter. Generali Investments CEE investicni spolecnost a.s. bought a new position in shares of Deere & Company in the 4th quarter valued at $847,000. BankPlus Trust Department bought a new position in shares of Deere & Company in the 4th quarter valued at $1,127,000. Finally, Stenger Family Office LLC bought a new position in shares of Deere & Company in the 4th quarter valued at $3,144,000. Institutional investors own 68.58% of the company's stock.
Analyst Upgrades and Downgrades
Several equities analysts have recently issued reports on the company. Argus set a $510.00 price target on Deere & Company in a research note on Friday, March 7th. Melius Research upgraded Deere & Company from a "hold" rating to a "strong-buy" rating in a research report on Friday, June 6th. Citigroup reduced their price objective on Deere & Company from $550.00 to $525.00 and set a "neutral" rating on the stock in a research report on Friday, May 30th. Bank of America boosted their price objective on Deere & Company from $495.00 to $556.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. Finally, DA Davidson restated a "buy" rating and set a $542.00 price objective on shares of Deere & Company in a research report on Friday, May 16th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $515.19.
View Our Latest Stock Report on DE
Deere & Company Trading Down 0.8%
Shares of NYSE DE traded down $4.32 during trading on Friday, reaching $520.66. The company had a trading volume of 1,387,433 shares, compared to its average volume of 1,386,710. The company's fifty day moving average price is $495.13 and its 200-day moving average price is $470.66. Deere & Company has a 12 month low of $340.20 and a 12 month high of $533.78. The stock has a market cap of $141.01 billion, a P/E ratio of 25.19, a PEG ratio of 3.31 and a beta of 1.09. The company has a quick ratio of 1.89, a current ratio of 2.11 and a debt-to-equity ratio of 1.76.
Deere & Company (NYSE:DE - Get Free Report) last released its quarterly earnings results on Thursday, May 15th. The industrial products company reported $6.64 EPS for the quarter, beating analysts' consensus estimates of $5.72 by $0.92. Deere & Company had a return on equity of 24.39% and a net margin of 12.40%. The firm had revenue of $11.17 billion for the quarter, compared to analyst estimates of $10.80 billion. During the same quarter in the previous year, the company posted $8.53 EPS. The business's revenue was down 17.9% on a year-over-year basis. As a group, research analysts expect that Deere & Company will post 19.32 earnings per share for the current year.
Deere & Company Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Monday, June 30th will be given a $1.62 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.24%. Deere & Company's dividend payout ratio (DPR) is presently 31.35%.
About Deere & Company
(
Free Report)
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.
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