Cullen Investment Group LTD. Has $11.26 Million Holdings in Deere & Company (NYSE:DE)

Cullen Investment Group LTD. grew its holdings in Deere & Company (NYSE:DE) by 0.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,585 shares of the industrial products company’s stock after purchasing an additional 29 shares during the period. Deere & Company comprises 1.7% of Cullen Investment Group LTD.’s portfolio, making the stock its 11th largest holding. Cullen Investment Group LTD.’s holdings in Deere & Company were worth $11,264,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Wellington Management Group LLP boosted its position in Deere & Company by 32.0% during the third quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company’s stock valued at $3,068,404,000 after purchasing an additional 1,782,984 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Deere & Company by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 5,208,368 shares of the industrial products company’s stock valued at $2,168,737,000 after buying an additional 31,459 shares during the last quarter. FMR LLC grew its stake in shares of Deere & Company by 27.8% in the 3rd quarter. FMR LLC now owns 4,542,013 shares of the industrial products company’s stock valued at $1,895,518,000 after buying an additional 988,380 shares in the last quarter. Legal & General Group Plc increased its holdings in Deere & Company by 2.7% in the second quarter. Legal & General Group Plc now owns 2,254,266 shares of the industrial products company’s stock worth $842,259,000 after buying an additional 60,255 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Deere & Company by 15.0% in the second quarter. Dimensional Fund Advisors LP now owns 2,146,441 shares of the industrial products company’s stock worth $802,037,000 after buying an additional 279,627 shares during the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on DE shares. Truist Financial boosted their target price on shares of Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Barclays upped their price objective on shares of Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Morgan Stanley raised their target price on Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a report on Monday, November 25th. JPMorgan Chase & Co. upped their price target on Deere & Company from $420.00 to $450.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Finally, Citigroup raised their price objective on Deere & Company from $460.00 to $470.00 and gave the company a “neutral” rating in a research note on Monday, December 9th. Eleven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $443.94.

Deere & Company Stock Performance

NYSE:DE opened at $430.17 on Tuesday. The firm’s 50-day moving average is $428.56 and its 200-day moving average is $400.45. The company has a market cap of $117.69 billion, a price-to-earnings ratio of 16.80, a PEG ratio of 1.88 and a beta of 0.96. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.90 and a current ratio of 2.09. Deere & Company has a 52-week low of $340.20 and a 52-week high of $469.39.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.89 by $0.66. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The firm had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.20 billion. During the same period in the previous year, the company posted $8.26 earnings per share. The company’s quarterly revenue was down 32.8% compared to the same quarter last year. Equities research analysts anticipate that Deere & Company will post 19.41 earnings per share for the current year.

Deere & Company Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Tuesday, December 31st will be given a $1.62 dividend. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. This represents a $6.48 annualized dividend and a yield of 1.51%. The ex-dividend date of this dividend is Tuesday, December 31st. Deere & Company’s dividend payout ratio (DPR) is 22.97%.

About Deere & Company

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.