28,067 Shares in Deere & Company (NYSE:DE) Purchased by Cullen Investment Group LTD.

Cullen Investment Group LTD. purchased a new stake in Deere & Company (NYSE:DE - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 28,067 shares of the industrial products company's stock, valued at approximately $11,223,000. Deere & Company makes up approximately 2.0% of Cullen Investment Group LTD.'s investment portfolio, making the stock its 9th largest holding.

A number of other hedge funds also recently made changes to their positions in the stock. Essex Savings Bank boosted its stake in shares of Deere & Company by 0.5% in the 4th quarter. Essex Savings Bank now owns 5,367 shares of the industrial products company's stock valued at $2,146,000 after purchasing an additional 26 shares in the last quarter. Valley National Advisers Inc. boosted its position in Deere & Company by 1.5% during the 4th quarter. Valley National Advisers Inc. now owns 1,879 shares of the industrial products company's stock worth $751,000 after buying an additional 27 shares during the period. Bleakley Financial Group LLC boosted its position in Deere & Company by 0.5% during the 4th quarter. Bleakley Financial Group LLC now owns 5,158 shares of the industrial products company's stock worth $2,063,000 after buying an additional 27 shares during the period. Simplicity Solutions LLC boosted its position in Deere & Company by 0.5% during the 4th quarter. Simplicity Solutions LLC now owns 5,158 shares of the industrial products company's stock worth $2,063,000 after buying an additional 27 shares during the period. Finally, Liberty One Investment Management LLC boosted its position in Deere & Company by 0.5% during the 4th quarter. Liberty One Investment Management LLC now owns 6,016 shares of the industrial products company's stock worth $2,579,000 after buying an additional 27 shares during the period. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Stock Down 0.9 %

DE stock traded down $3.47 during midday trading on Monday, reaching $393.80. 1,311,438 shares of the company's stock traded hands, compared to its average volume of 1,496,115. The company has a market cap of $109.62 billion, a price-to-earnings ratio of 11.59, a P/E/G ratio of 1.49 and a beta of 1.04. The firm's fifty day moving average price is $384.71 and its 200-day moving average price is $382.39. The company has a quick ratio of 1.81, a current ratio of 2.05 and a debt-to-equity ratio of 1.81. Deere & Company has a 52 week low of $345.55 and a 52 week high of $450.00.

Deere & Company (NYSE:DE - Get Free Report) last announced its quarterly earnings results on Thursday, February 15th. The industrial products company reported $6.23 EPS for the quarter, beating analysts' consensus estimates of $5.19 by $1.04. The business had revenue of $10.49 billion during the quarter, compared to analyst estimates of $10.30 billion. Deere & Company had a net margin of 16.38% and a return on equity of 44.60%. Deere & Company's quarterly revenue was down 8.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $6.55 EPS. As a group, sell-side analysts forecast that Deere & Company will post 27.41 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Friday, March 29th will be issued a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date is Wednesday, March 27th. Deere & Company's dividend payout ratio is 17.12%.

Analyst Ratings Changes

Several research firms recently commented on DE. Morgan Stanley began coverage on shares of Deere & Company in a research report on Monday, January 8th. They set an "overweight" rating and a $430.00 target price on the stock. Melius downgraded shares of Deere & Company from a "buy" rating to a "hold" rating in a research report on Monday, January 8th. JPMorgan Chase & Co. boosted their price target on shares of Deere & Company from $415.00 to $425.00 and gave the stock a "neutral" rating in a research report on Friday. Melius Research restated a "hold" rating on shares of Deere & Company in a research report on Monday, January 8th. Finally, Truist Financial assumed coverage on shares of Deere & Company in a research report on Thursday, March 14th. They issued a "buy" rating and a $494.00 price target on the stock. Ten analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Deere & Company presently has an average rating of "Hold" and a consensus price target of $433.28.

Deere & Company Company Profile

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.