Lombard Odier Asset Management Europe Ltd Buys 14,595 Shares of Deere & Company $DE

Lombard Odier Asset Management Europe Ltd grew its stake in shares of Deere & Company (NYSE:DE) by 75.8% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 33,848 shares of the industrial products company’s stock after purchasing an additional 14,595 shares during the period. Lombard Odier Asset Management Europe Ltd’s holdings in Deere & Company were worth $15,759,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Strategic Advocates LLC bought a new stake in shares of Deere & Company in the 3rd quarter worth $25,000. Key Capital Management INC bought a new stake in shares of Deere & Company in the 4th quarter worth $27,000. Timmons Wealth Management LLC bought a new stake in shares of Deere & Company in the 4th quarter worth $29,000. McIlrath & Eck LLC bought a new stake in shares of Deere & Company in the 4th quarter worth $30,000. Finally, Wealth Watch Advisors INC bought a new stake in shares of Deere & Company in the 3rd quarter worth $32,000. 68.58% of the stock is owned by institutional investors.

Deere & Company Stock Performance

NYSE DE opened at $586.43 on Wednesday. Deere & Company has a 52-week low of $433.00 and a 52-week high of $674.19. The company has a 50-day simple moving average of $573.50 and a 200 day simple moving average of $550.68. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.95 and a current ratio of 2.18. The company has a market capitalization of $158.30 billion, a PE ratio of 33.23, a price-to-earnings-growth ratio of 2.13 and a beta of 0.92.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, May 21st. The industrial products company reported $6.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.70 by $0.85. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The business had revenue of $13.37 billion during the quarter, compared to the consensus estimate of $11.55 billion. During the same quarter last year, the company posted $6.64 earnings per share. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. On average, research analysts predict that Deere & Company will post 18.13 EPS for the current year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Tuesday, June 30th will be given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Tuesday, June 30th. Deere & Company’s dividend payout ratio (DPR) is currently 36.71%.

Analyst Ratings Changes

Several research firms have recently issued reports on DE. Wells Fargo & Company upped their target price on shares of Deere & Company from $543.00 to $750.00 and gave the stock an “overweight” rating in a research note on Friday, February 20th. Truist Financial decreased their price target on Deere & Company from $793.00 to $759.00 and set a “buy” rating for the company in a research report on Tuesday, May 26th. Robert W. Baird decreased their price target on Deere & Company from $580.00 to $525.00 and set a “neutral” rating for the company in a research report on Friday, May 22nd. Barclays increased their price target on Deere & Company from $530.00 to $640.00 and gave the company an “overweight” rating in a research report on Tuesday, March 31st. Finally, JPMorgan Chase & Co. increased their price target on Deere & Company from $560.00 to $590.00 and gave the company a “neutral” rating in a research report on Thursday, June 4th. Fourteen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $639.58.

Deere & Company Company Profile

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.