Lee Johnson Capital Management LLC Takes $777,000 Position in Deere & Company $DE

Key Points

• Lee Johnson Capital Management LLC invested approximately $777,000 in Deere & Company, acquiring 1,529 shares of the stock during the second quarter of the year.
• Deere & Company's latest earnings report revealed $4.75 earnings per share, surpassing analyst expectations, but showed a 9% revenue decline compared to the same quarter last year.
• The company announced a quarterly dividend of $1.62 per share, with an annualized yield of 1.4%, slated for payment on November 10th.

Lee Johnson Capital Management LLC bought a new stake in shares of Deere & Company (NYSE:DE - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,529 shares of the industrial products company's stock, valued at approximately $777,000.

Several other hedge funds have also modified their holdings of the stock. Southland Equity Partners LLC lifted its holdings in shares of Deere & Company by 3.9% during the second quarter. Southland Equity Partners LLC now owns 534 shares of the industrial products company's stock valued at $271,000 after purchasing an additional 20 shares during the last quarter. Chicago Partners Investment Group LLC lifted its holdings in shares of Deere & Company by 1.2% during the first quarter. Chicago Partners Investment Group LLC now owns 1,803 shares of the industrial products company's stock valued at $852,000 after purchasing an additional 21 shares during the last quarter. Tyler Stone Wealth Management lifted its holdings in shares of Deere & Company by 1.7% during the first quarter. Tyler Stone Wealth Management now owns 1,230 shares of the industrial products company's stock valued at $577,000 after purchasing an additional 21 shares during the last quarter. McLean Asset Management Corp lifted its holdings in shares of 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 purchasing an additional 21 shares during the last quarter. Finally, Sunbelt Securities Inc. lifted its holdings in shares of Deere & Company by 2.4% during the first quarter. Sunbelt Securities Inc. now owns 925 shares of the industrial products company's stock valued at $434,000 after purchasing an additional 22 shares during the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Stock Performance

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

Deere & Company (NYSE:DE - Get Free Report) last issued its earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $10.33 billion. During the same period in the prior year, the firm posted $6.29 EPS. The business's revenue was down 9.0% compared to the same quarter last year. Analysts predict that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently announced 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. This represents a $6.48 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Tuesday, September 30th. Deere & Company's dividend payout ratio is presently 33.87%.

Analyst Ratings Changes

Several brokerages recently issued reports on DE. Oppenheimer reduced their price objective on Deere & Company from $566.00 to $512.00 and set an "outperform" rating for the company in a research note on Thursday, September 18th. Robert W. Baird reduced their price objective on Deere & Company from $520.00 to $488.00 and set a "neutral" rating for the company in a research note on Friday, August 15th. Melius raised Deere & Company from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Daiwa Capital Markets reduced their price objective on Deere & Company from $565.00 to $530.00 and set an "outperform" rating for the company in a research note on Thursday, September 25th. Finally, Melius Research raised Deere & Company from a "hold" rating to a "strong-buy" rating in a research note on Friday, June 6th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and nine have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price 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.

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