Deere & Company (NYSE:DE) Shares Sold by Cullen Investment Group LTD.

Cullen Investment Group LTD. reduced its position in shares of Deere & Company (NYSE:DE) by 1.9% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 26,556 shares of the industrial products company’s stock after selling 516 shares during the quarter. Deere & Company makes up about 1.7% of Cullen Investment Group LTD.’s investment portfolio, making the stock its 13th biggest position. Cullen Investment Group LTD.’s holdings in Deere & Company were worth $11,083,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in Deere & Company by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 21,988,363 shares of the industrial products company’s stock worth $9,031,500,000 after buying an additional 263,709 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of Deere & Company by 0.5% in the first quarter. Janus Henderson Group PLC now owns 3,859,021 shares of the industrial products company’s stock worth $1,585,028,000 after purchasing an additional 19,200 shares in the last quarter. Legal & General Group Plc grew its stake in shares of 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 purchasing an additional 60,255 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of 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 purchasing an additional 279,627 shares in the last quarter. Finally, Fisher Asset Management LLC grew its stake in shares of Deere & Company by 11.3% in the fourth quarter. Fisher Asset Management LLC now owns 1,481,458 shares of the industrial products company’s stock worth $592,391,000 after purchasing an additional 150,713 shares in the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Stock Down 0.2 %

Deere & Company stock traded down $0.75 during mid-day trading on Friday, hitting $407.99. The company’s stock had a trading volume of 877,896 shares, compared to its average volume of 1,501,564. The firm’s 50 day moving average is $383.08 and its 200 day moving average is $385.19. The company has a market cap of $112.43 billion, a PE ratio of 12.28, a price-to-earnings-growth ratio of 1.36 and a beta of 0.92. The company has a debt-to-equity ratio of 1.85, a current ratio of 2.07 and a quick ratio of 1.87. Deere & Company has a 52-week low of $340.20 and a 52-week high of $420.47.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.63 by $0.66. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The firm had revenue of $11.39 billion during the quarter, compared to the consensus estimate of $10.94 billion. During the same period in the prior year, the business earned $10.20 EPS. The business’s revenue for the quarter was down 20.3% on a year-over-year basis. On average, analysts anticipate that Deere & Company will post 25.03 earnings per share for the current year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, September 30th will be given a $1.47 dividend. This represents a $5.88 annualized dividend and a yield of 1.44%. The ex-dividend date of this dividend is Monday, September 30th. Deere & Company’s payout ratio is currently 17.70%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. HSBC cut Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, August 19th. JPMorgan Chase & Co. decreased their target price on Deere & Company from $375.00 to $360.00 and set a “neutral” rating for the company in a research note on Tuesday, August 13th. Morgan Stanley decreased their target price on Deere & Company from $450.00 to $425.00 and set an “overweight” rating for the company in a research note on Monday, August 26th. Deutsche Bank Aktiengesellschaft decreased their target price on Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a research note on Thursday, August 8th. Finally, Hsbc Global Res cut Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 19th. Thirteen investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $410.50.

Deere & Company Profile

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.