Cullinan Associates Inc. decreased its position in shares of Deere & Company (NYSE:DE – Free Report) by 8.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,804 shares of the industrial products company’s stock after selling 2,030 shares during the quarter. Deere & Company makes up 0.9% of Cullinan Associates Inc.’s holdings, making the stock its 27th largest holding. Cullinan Associates Inc.’s holdings in Deere & Company were worth $11,719,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Deere & Company by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 22,583,185 shares of the industrial products company’s stock worth $10,514,053,000 after acquiring an additional 198,332 shares during the period. State Street Corp increased its position in Deere & Company by 0.9% during the 4th quarter. State Street Corp now owns 10,485,949 shares of the industrial products company’s stock valued at $4,898,717,000 after purchasing an additional 97,049 shares during the period. Capital World Investors raised its holdings in shares of Deere & Company by 53.9% in the 4th quarter. Capital World Investors now owns 9,592,004 shares of the industrial products company’s stock valued at $4,465,906,000 after purchasing an additional 3,358,264 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Deere & Company by 2.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,692,877 shares of the industrial products company’s stock valued at $3,581,574,000 after purchasing an additional 158,584 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Deere & Company by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 5,600,552 shares of the industrial products company’s stock worth $2,609,149,000 after purchasing an additional 17,269 shares during the period. Hedge funds and other institutional investors own 68.58% of the company’s stock.
Deere & Company Stock Down 0.9%
NYSE DE traded down $5.54 on Friday, hitting $587.36. The stock had a trading volume of 782,098 shares, compared to its average volume of 1,174,307. The business’s fifty day moving average price is $581.74 and its 200 day moving average price is $566.99. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.18 and a quick ratio of 1.95. Deere & Company has a 52-week low of $433.00 and a 52-week high of $674.19. The stock has a market cap of $158.55 billion, a price-to-earnings ratio of 33.28, a price-to-earnings-growth ratio of 2.17 and a beta of 0.89.
Deere & Company Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Tuesday, June 30th will be paid a $1.62 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $6.48 dividend on an annualized basis and a yield of 1.1%. Deere & Company’s dividend payout ratio (DPR) is 36.71%.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently issued reports on DE shares. Wolfe Research lifted their price objective on shares of Deere & Company from $550.00 to $660.00 and gave the company an “outperform” rating in a report on Tuesday, March 31st. Citigroup cut their price target on Deere & Company from $625.00 to $595.00 and set a “neutral” rating on the stock in a report on Friday, May 22nd. Jefferies Financial Group raised Deere & Company from an “underperform” rating to a “hold” rating and set a $550.00 price target for the company in a research report on Wednesday, April 8th. Oppenheimer restated an “outperform” rating and set a $680.00 price objective (down from $715.00) on shares of Deere & Company in a research note on Wednesday, May 27th. Finally, Wall Street Zen raised Deere & Company from a “sell” rating to a “hold” rating in a research report on Sunday, July 5th. 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 data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $642.23.
Check Out Our Latest Report on Deere & Company
Key Stories Impacting Deere & Company
Here are the key news stories impacting Deere & Company this week:
- Positive Sentiment: D.A. Davidson’s new coverage on AGCO highlighted that weak farm conditions can still support equipment makers like Deere, reinforcing the view that replacement demand and pricing power may hold up better than expected for agricultural OEMs. Farming Is Terrible Right Now. That’s Good for Deere and AGCO Stocks.
- Positive Sentiment: Jim Cramer was upbeat on Deere, calling the stock “incredible” and suggesting it still has room to go higher, which may help sentiment around the shares. Jim Cramer on Deere & Company: “The Stock Is Incredible, and It’s Not Done Going Higher”
- Neutral Sentiment: An analyst report on Deere was published, but no clear thesis or rating details were provided in the feed, so it is likely a limited near-term catalyst. Analyst Report: Deere & Co
- Negative Sentiment: Deere settled a right-to-repair dispute with the FTC, requiring it to provide farmers and independent repair providers the same repair resources as authorized dealers for 10 years. Investors may see this as a hit to Deere’s control over service revenue and after-sales economics. Deere settles right to repair dispute with FTC
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.
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