Lombard Odier Asset Management Switzerland SA Invests $6.09 Million in Deere & Company $DE

Lombard Odier Asset Management Switzerland SA purchased a new position in shares of Deere & Company (NYSE:DE) in the first quarter, HoldingsChannel reports. The institutional investor purchased 10,813 shares of the industrial products company’s stock, valued at approximately $6,091,000.

Other hedge funds also recently modified their holdings of the company. Portus Wealth Advisors LLC bought a new position in Deere & Company during the first quarter worth $32,000. Key Capital Management INC bought a new stake in Deere & Company in the 4th quarter valued at $27,000. Timmons Wealth Management LLC acquired a new stake in Deere & Company in the 4th quarter worth $29,000. McIlrath & Eck LLC acquired a new stake in Deere & Company in the 4th quarter worth $30,000. Finally, Wealth Watch Advisors INC bought a new position in shares of Deere & Company during the 3rd quarter worth about $32,000. 68.58% of the stock is owned by institutional investors.

Deere & Company Trading Up 3.0%

Shares of DE stock opened at $628.32 on Friday. Deere & Company has a 52-week low of $433.00 and a 52-week high of $674.19. The stock has a market cap of $169.61 billion, a price-to-earnings ratio of 35.60, a P/E/G ratio of 2.65 and a beta of 0.89. 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 firm has a fifty day moving average of $585.05 and a 200-day moving average of $576.08.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, May 21st. The industrial products company reported $6.55 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 company had revenue of $13.37 billion during the quarter, compared to the consensus estimate of $11.55 billion. During the same period last year, the firm earned $6.64 EPS. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. On average, equities research analysts forecast that Deere & Company will post 18.28 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Investors of record on Tuesday, June 30th will be given a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Tuesday, June 30th. Deere & Company’s dividend payout ratio is 36.71%.

Wall Street Analyst Weigh In

DE has been the subject of a number of research analyst reports. Wolfe Research upped their price objective on shares of Deere & Company from $550.00 to $660.00 and gave the company an “outperform” rating in a research report on Tuesday, March 31st. Bank of America decreased their target price on Deere & Company from $672.00 to $607.50 and set a “neutral” rating on the stock in a research report on Friday, May 22nd. Jefferies Financial Group upgraded Deere & Company from an “underperform” rating to a “hold” rating and set a $550.00 price target on the stock in a research note on Wednesday, April 8th. Robert W. Baird cut their price target on Deere & Company from $580.00 to $525.00 and set a “neutral” rating for the company in a report on Friday, May 22nd. Finally, Truist Financial raised their price objective on Deere & Company from $759.00 to $812.00 and gave the stock a “buy” rating in a research report on Thursday, July 2nd. Fourteen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, Deere & Company presently has a consensus rating of “Moderate Buy” and an average target price of $642.98.

Deere & 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.