Lee Johnson Capital Management LLC Takes Position in Deere & Company $DE

Lee Johnson Capital Management LLC acquired a new stake in shares of Deere & Company (NYSE:DE) during the second quarter, HoldingsChannel.com reports. The fund acquired 1,529 shares of the industrial products company’s stock, valued at approximately $777,000.

Other hedge funds have also made changes to their positions in the company. Activest Wealth Management increased its holdings in shares of Deere & Company by 2,750.0% during the 1st quarter. Activest Wealth Management now owns 57 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 55 shares during the last quarter. Hughes Financial Services LLC acquired a new position in shares of Deere & Company during the 1st quarter valued at about $29,000. Cornerstone Planning Group LLC increased its holdings in shares of Deere & Company by 116.1% during the 1st quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 36 shares during the last quarter. Marshall & Sullivan Inc. WA acquired a new position in shares of Deere & Company during the 2nd quarter valued at about $38,000. Finally, Livelsberger Financial Advisory acquired a new position in shares of Deere & Company during the 2nd quarter valued at about $39,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Price Performance

Shares of DE stock opened at $465.09 on Tuesday. The stock has a 50 day moving average of $489.05 and a two-hundred day moving average of $489.85. The company has a current ratio of 2.19, a quick ratio of 1.98 and a debt-to-equity ratio of 1.76. Deere & Company has a 12 month low of $387.03 and a 12 month high of $533.78. The company has a market capitalization of $125.73 billion, a P/E ratio of 24.31, a P/E/G ratio of 2.99 and a beta of 1.00.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 EPS for the quarter, topping analysts’ consensus estimates of $4.62 by $0.13. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The company had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.33 billion. During the same quarter last year, the company earned $6.29 EPS. The company’s quarterly revenue was down 9.0% on a year-over-year basis. As a group, equities analysts expect that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Tuesday, September 30th will be given a $1.62 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.4%. Deere & Company’s dividend payout ratio (DPR) is currently 33.87%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Melius Research raised Deere & Company from a “hold” rating to a “strong-buy” rating in a report on Friday, June 6th. DA Davidson lowered their target price on Deere & Company from $595.00 to $580.00 and set a “buy” rating on the stock in a report on Monday, August 18th. Wall Street Zen lowered Deere & Company from a “hold” rating to a “sell” rating in a report on Friday. Daiwa Capital Markets lowered their target price on Deere & Company from $565.00 to $530.00 and set an “outperform” rating on the stock in a report on Thursday, September 25th. Finally, Truist Financial lowered their target price on Deere & Company from $619.00 to $602.00 and set a “buy” rating on the stock in a report on Friday, August 15th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, Deere & Company has an average rating of “Moderate Buy” and an average price target of $518.06.

Deere & Company 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.