Cullen Investment Group LTD. Acquires 29 Shares of Deere & Company (NYSE:DE)

Cullen Investment Group LTD. grew its stake in Deere & Company (NYSE:DE) by 0.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 26,585 shares of the industrial products company’s stock after purchasing an additional 29 shares during the period. Deere & Company makes up approximately 1.7% of Cullen Investment Group LTD.’s holdings, 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 modified their holdings of DE. Fairscale Capital LLC bought a new position in Deere & Company during the 2nd quarter valued at about $26,000. Livelsberger Financial Advisory acquired a new stake in shares of Deere & Company during the third quarter worth approximately $32,000. Modus Advisors LLC bought a new position in shares of Deere & Company in the fourth quarter valued at approximately $32,000. Centennial Bank AR boosted its holdings in shares of Deere & Company by 420.0% in the 2nd quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 84 shares in the last quarter. Finally, Continuum Advisory LLC grew its position in Deere & Company by 155.8% during the 3rd quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock worth $43,000 after acquiring an additional 67 shares during the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

DE has been the subject of several research analyst reports. Truist Financial lifted their price objective on Deere & Company from $538.00 to $550.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Citigroup upped their price target on shares of Deere & Company from $460.00 to $470.00 and gave the stock a “neutral” rating in a research report on Monday, December 9th. Barclays increased 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 boosted their target price on shares of Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a research note on Monday, November 25th. Finally, Oppenheimer raised their price target on shares of Deere & Company from $448.00 to $477.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. Eleven analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, Deere & Company presently has an average rating of “Hold” and an average price target of $443.94.

Deere & Company Stock Performance

Shares of DE stock opened at $430.17 on Tuesday. The stock has a market cap of $117.69 billion, a PE ratio of 16.80, a price-to-earnings-growth ratio of 1.88 and a beta of 0.96. The stock has a 50-day moving average of $428.56 and a 200-day moving average of $400.45. The company has a debt-to-equity ratio of 1.89, a current ratio of 2.09 and a quick ratio of 1.90. Deere & Company has a one year low of $340.20 and a one year high of $469.39.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, beating the consensus estimate of $3.89 by $0.66. The firm had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.20 billion. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The business’s quarterly revenue was down 32.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $8.26 earnings per share. As a group, sell-side analysts expect that Deere & Company will post 19.41 earnings per share for the current year.

Deere & Company Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $1.62 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. This represents a $6.48 annualized dividend and a yield of 1.51%. Deere & Company’s payout ratio is currently 22.97%.

Deere & Company Profile

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.