Lecap Asset Management Ltd. Invests $872,000 in Deere & Company $DE

Lecap Asset Management Ltd. acquired a new stake in shares of Deere & Company (NYSE:DE) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 1,907 shares of the industrial products company’s stock, valued at approximately $872,000.

A number of other large investors also recently bought and sold shares of DE. Southland Equity Partners LLC raised its position in shares of Deere & Company by 3.9% in the 2nd quarter. Southland Equity Partners LLC now owns 534 shares of the industrial products company’s stock worth $271,000 after acquiring an additional 20 shares in the last quarter. Vivid Wealth Management LLC raised its holdings in Deere & Company by 1.9% in the second quarter. Vivid Wealth Management LLC now owns 1,088 shares of the industrial products company’s stock worth $553,000 after purchasing an additional 20 shares in the last quarter. Werba Rubin Papier Wealth Management lifted its position in shares of Deere & Company by 3.0% during the second quarter. Werba Rubin Papier Wealth Management now owns 676 shares of the industrial products company’s stock valued at $344,000 after buying an additional 20 shares during the last quarter. Prairie Wealth Advisors Inc. boosted its holdings in shares of Deere & Company by 2.1% in the 2nd quarter. Prairie Wealth Advisors Inc. now owns 964 shares of the industrial products company’s stock valued at $492,000 after buying an additional 20 shares in the last quarter. Finally, McLean Asset Management Corp lifted its position in Deere & Company by 4.0% during the second quarter. McLean Asset Management Corp now owns 544 shares of the industrial products company’s stock valued at $283,000 after acquiring an additional 21 shares during the last quarter. Institutional investors own 68.58% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. JPMorgan Chase & Co. cut their price target on shares of Deere & Company from $480.00 to $460.00 and set a “neutral” rating on the stock in a report on Friday, December 19th. Oppenheimer raised their price objective on Deere & Company from $512.00 to $531.00 and gave the stock an “outperform” rating in a research report on Friday, November 28th. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Deere & Company in a research report on Tuesday, December 9th. Wolfe Research upped their price objective on shares of Deere & Company from $520.00 to $550.00 and gave the company an “outperform” rating in a report on Friday, January 2nd. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of Deere & Company in a research report on Monday, December 1st. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $524.20.

Deere & Company Trading Up 5.5%

Shares of NYSE:DE opened at $501.27 on Friday. Deere & Company has a 52-week low of $403.01 and a 52-week high of $533.78. The stock has a market cap of $135.57 billion, a price-to-earnings ratio of 27.08, a PEG ratio of 1.82 and a beta of 1.00. The company has a quick ratio of 2.01, a current ratio of 2.22 and a debt-to-equity ratio of 1.68. The business has a 50-day moving average price of $474.18 and a 200-day moving average price of $482.26.

Deere & Company (NYSE:DE) last issued its earnings results on Wednesday, November 26th. The industrial products company reported $3.93 EPS for the quarter, missing analysts’ consensus estimates of $3.96 by ($0.03). Deere & Company had a net margin of 11.00% and a return on equity of 20.54%. The firm had revenue of $12.39 billion during the quarter, compared to analysts’ expectations of $9.77 billion. During the same quarter in the prior year, the company earned $4.55 EPS. Deere & Company’s quarterly revenue was up 14.1% on a year-over-year basis. Equities analysts predict that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 9th. Stockholders of record on Wednesday, December 31st will be paid a $1.62 dividend. The ex-dividend date is Wednesday, December 31st. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.3%. Deere & Company’s dividend payout ratio is presently 35.01%.

Insider Activity

In related news, CEO John C. May II sold 11,106 shares of the business’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $500.08, for a total transaction of $5,553,888.48. Following the completion of the transaction, the chief executive officer directly owned 112,453 shares in the company, valued at $56,235,496.24. The trade was a 8.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.29% of the stock is currently owned by company insiders.

About Deere & Company

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.