Cullinan Associates Inc. lowered its position in shares of Deere & Company (NYSE:DE) by 42.6% during the fourth quarter, Holdings Channel reports. The fund owned 16,955 shares of the industrial products company’s stock after selling 12,565 shares during the quarter. Cullinan Associates Inc.’s holdings in Deere & Company were worth $2,654,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in DE. Vanguard Group Inc. raised its stake in Deere & Company by 5.6% during the second quarter. Vanguard Group Inc. now owns 21,593,762 shares of the industrial products company’s stock worth $2,668,774,000 after purchasing an additional 1,153,484 shares during the period. BlackRock Inc. raised its stake in Deere & Company by 2.5% during the second quarter. BlackRock Inc. now owns 17,125,313 shares of the industrial products company’s stock worth $2,116,517,000 after purchasing an additional 409,861 shares during the period. Capital International Investors raised its stake in Deere & Company by 35.4% during the third quarter. Capital International Investors now owns 8,807,474 shares of the industrial products company’s stock worth $1,106,131,000 after purchasing an additional 2,300,531 shares during the period. FMR LLC raised its stake in Deere & Company by 18.3% during the second quarter. FMR LLC now owns 5,032,313 shares of the industrial products company’s stock worth $621,943,000 after purchasing an additional 777,519 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in Deere & Company by 21.2% during the third quarter. Bank of New York Mellon Corp now owns 3,621,764 shares of the industrial products company’s stock worth $454,857,000 after purchasing an additional 634,001 shares during the period. Hedge funds and other institutional investors own 67.37% of the company’s stock.

DE has been the topic of a number of recent analyst reports. Deutsche Bank reaffirmed a “hold” rating and set a $129.00 price target (down previously from $135.00) on shares of Deere & Company in a research note on Monday, October 9th. Robert W. Baird reaffirmed a “hold” rating and set a $140.00 price target on shares of Deere & Company in a research note on Thursday, October 12th. BMO Capital Markets reaffirmed a “buy” rating and set a $150.00 price target on shares of Deere & Company in a research note on Thursday, November 2nd. Zacks Investment Research raised shares of Deere & Company from a “hold” rating to a “buy” rating and set a $150.00 price target on the stock in a research note on Thursday, November 2nd. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $155.00 target price (up previously from $134.00) on shares of Deere & Company in a research note on Wednesday, November 22nd. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and fourteen have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $149.78.

In related news, VP Mary K.W. Jones sold 34,136 shares of the firm’s stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $124.72, for a total transaction of $4,257,441.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Rajesh Kalathur sold 4,519 shares of the firm’s stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $148.92, for a total transaction of $672,969.48. Following the sale, the chief financial officer now directly owns 36,288 shares of the company’s stock, valued at $5,404,008.96. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 246,097 shares of company stock valued at $35,868,394. Company insiders own 0.75% of the company’s stock.

Shares of Deere & Company (DE) traded down $0.11 during mid-day trading on Wednesday, hitting $167.43. 1,960,392 shares of the stock were exchanged, compared to its average volume of 2,000,000. Deere & Company has a fifty-two week low of $104.10 and a fifty-two week high of $170.73. The company has a debt-to-equity ratio of 2.71, a quick ratio of 1.95 and a current ratio of 2.12. The stock has a market cap of $53,790.00, a P/E ratio of 25.18, a PEG ratio of 2.54 and a beta of 0.77.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Wednesday, November 22nd. The industrial products company reported $1.57 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.47 by $0.10. The business had revenue of $7.09 billion during the quarter, compared to analyst estimates of $6.91 billion. Deere & Company had a net margin of 7.22% and a return on equity of 26.31%. The business’s revenue was up 25.6% on a year-over-year basis. During the same period last year, the business earned $0.90 EPS. equities analysts forecast that Deere & Company will post 8.13 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Friday, December 29th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date of this dividend is Thursday, December 28th. Deere & Company’s payout ratio is 36.09%.

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Deere & Company Profile

Deere & Company is engaged in equipment operations. The Company is engaged in providing financial services. The Company operates through three business segments: agriculture and turf, construction and forestry, and financial services. The agriculture and turf segment manufactures and distributes a line of agriculture and turf equipment and related service parts.

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Institutional Ownership by Quarter for Deere & Company (NYSE:DE)

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