Cullinan Associates Inc. Sells 1,228 Shares of Deere & Company $DE

Cullinan Associates Inc. lessened its holdings in Deere & Company (NYSE:DE) by 5.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,576 shares of the industrial products company’s stock after selling 1,228 shares during the period. Deere & Company comprises 0.9% of Cullinan Associates Inc.’s holdings, making the stock its 28th biggest holding. Cullinan Associates Inc.’s holdings in Deere & Company were worth $12,418,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Anchyra Partners LLC boosted its stake in shares of Deere & Company by 0.5% in the 1st quarter. Anchyra Partners LLC now owns 3,191 shares of the industrial products company’s stock valued at $1,797,000 after purchasing an additional 17 shares in the last quarter. William B. Walkup & Associates Inc. increased its position in Deere & Company by 0.6% during the 1st quarter. William B. Walkup & Associates Inc. now owns 2,908 shares of the industrial products company’s stock worth $1,638,000 after purchasing an additional 17 shares in the last quarter. Advisortrust Partners LLC increased its position in Deere & Company by 2.0% during the 1st quarter. Advisortrust Partners LLC now owns 914 shares of the industrial products company’s stock worth $515,000 after purchasing an additional 18 shares in the last quarter. Cerro Pacific Wealth Advisors LLC lifted its stake in Deere & Company by 0.6% in the 4th quarter. Cerro Pacific Wealth Advisors LLC now owns 3,179 shares of the industrial products company’s stock valued at $1,480,000 after purchasing an additional 19 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. lifted its stake in Deere & Company by 2.4% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 816 shares of the industrial products company’s stock valued at $379,000 after purchasing an additional 19 shares during the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Wall Street Analysts Forecast Growth

DE has been the topic of a number of research reports. Wall Street Zen cut shares of Deere & Company from a “hold” rating to a “sell” rating in a research note on Saturday, August 22nd. Bank of America dropped their price target on Deere & Company from $672.00 to $607.50 and set a “neutral” rating for the company in a research note on Friday, May 22nd. Weiss Ratings reissued a “hold (c+)” rating on shares of Deere & Company in a report on Tuesday, August 18th. Royal Bank Of Canada restated an “outperform” rating and set a $752.00 price objective on shares of Deere & Company in a research report on Monday, August 24th. Finally, JPMorgan Chase & Co. upped their target price on Deere & Company from $570.00 to $585.00 and gave the stock a “neutral” rating in a report on Friday, August 21st. Fourteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $653.48.

Deere & Company Trading Up 1.3%

Shares of NYSE DE opened at $630.66 on Friday. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.89 and a current ratio of 2.10. Deere & Company has a 52-week low of $433.00 and a 52-week high of $674.19. The firm has a 50 day moving average price of $611.59 and a two-hundred day moving average price of $593.34. The stock has a market cap of $170.24 billion, a P/E ratio of 35.04, a price-to-earnings-growth ratio of 2.60 and a beta of 0.90.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, August 20th. The industrial products company reported $5.10 EPS for the quarter, topping analysts’ consensus estimates of $4.69 by $0.41. The company 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% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.75 earnings per share. As a group, equities analysts forecast that Deere & Company will post 18.11 EPS for the current year.

Deere & Company Dividend Announcement

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

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.