Lecap Asset Management Ltd. Makes New Investment in Deere & Company (NYSE:DE)

Lecap Asset Management Ltd. acquired a new position in Deere & Company (NYSE:DE - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 6,776 shares of the industrial products company's stock, valued at approximately $2,710,000. Deere & Company comprises about 1.0% of Lecap Asset Management Ltd.'s holdings, making the stock its 7th largest holding.

Other large investors have also recently modified their holdings of the company. Retirement Group LLC grew its stake in shares of Deere & Company by 264.7% during the second quarter. Retirement Group LLC now owns 62 shares of the industrial products company's stock worth $25,000 after acquiring an additional 45 shares during the last quarter. Briaud Financial Planning Inc acquired a new position in shares of Deere & Company in the 3rd quarter valued at $25,000. ZRC Wealth Management LLC purchased a new position in Deere & Company in the 4th quarter worth $28,000. Worth Asset Management LLC acquired a new stake in Deere & Company during the 1st quarter worth about $28,000. Finally, Milestone Investment Advisors LLC purchased a new stake in Deere & Company during the 3rd quarter valued at about $37,000. Institutional investors own 68.58% of the company's stock.

Deere & Company Price Performance

DE traded down $15.57 during midday trading on Friday, hitting $397.27. 1,886,049 shares of the company traded hands, compared to its average volume of 1,347,228. The business has a 50 day simple moving average of $384.71 and a two-hundred day simple moving average of $382.40. Deere & Company has a 52-week low of $345.55 and a 52-week high of $450.00. The company has a market capitalization of $110.58 billion, a price-to-earnings ratio of 11.57, a PEG ratio of 1.55 and a beta of 1.04. The company has a current ratio of 2.05, a quick ratio of 1.81 and a debt-to-equity ratio of 1.81.

Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly earnings results on Thursday, February 15th. The industrial products company reported $6.23 earnings per share for the quarter, beating analysts' consensus estimates of $5.19 by $1.04. Deere & Company had a net margin of 16.38% and a return on equity of 44.60%. The firm had revenue of $10.49 billion for the quarter, compared to analyst estimates of $10.30 billion. During the same period last year, the company posted $6.55 EPS. Deere & Company's quarterly revenue was down 8.0% compared to the same quarter last year. On average, equities analysts forecast that Deere & Company will post 27.41 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Friday, March 29th will be paid a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date of this dividend is Wednesday, March 27th. Deere & Company's dividend payout ratio is presently 17.12%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Melius downgraded Deere & Company from a "buy" rating to a "hold" rating in a report on Monday, January 8th. JPMorgan Chase & Co. lifted their price objective on shares of Deere & Company from $415.00 to $425.00 and gave the company a "neutral" rating in a research note on Friday. Citigroup cut their price objective on shares of Deere & Company from $450.00 to $435.00 and set a "buy" rating on the stock in a research note on Friday, February 16th. Truist Financial initiated coverage on shares of Deere & Company in a research report on Thursday, March 14th. They set a "buy" rating and a $494.00 target price for the company. Finally, Melius Research reaffirmed a "hold" rating on shares of Deere & Company in a report on Monday, January 8th. Ten research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Deere & Company has an average rating of "Hold" and an average price target of $433.28.

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.