Deere & Company $DE Shares Sold by Lombard Odier Asset Management Europe Ltd

Lombard Odier Asset Management Europe Ltd lessened its holdings in Deere & Company (NYSE:DE) by 61.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,961 shares of the industrial products company’s stock after selling 20,887 shares during the period. Lombard Odier Asset Management Europe Ltd’s holdings in Deere & Company were worth $7,301,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Portus Wealth Advisors LLC acquired a new stake in Deere & Company in the 1st quarter valued at $32,000. Key Capital Management INC acquired a new position in shares of Deere & Company during the fourth quarter worth about $27,000. Timmons Wealth Management LLC acquired a new position in shares of Deere & Company during the fourth quarter worth about $29,000. McIlrath & Eck LLC purchased a new stake in shares of Deere & Company in the fourth quarter worth about $30,000. Finally, Wealth Watch Advisors INC purchased a new stake in shares of Deere & Company in the third quarter worth about $32,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Up 3.0%

Shares of NYSE DE opened at $628.32 on Friday. Deere & Company has a 1 year low of $433.00 and a 1 year high of $674.19. The firm has a market cap of $169.61 billion, a price-to-earnings ratio of 35.60, a PEG 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 stock’s 50-day simple moving average is $585.05 and its 200-day simple moving average is $576.08.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, May 21st. The industrial products company reported $6.55 EPS for the quarter, beating analysts’ consensus estimates of $5.70 by $0.85. The firm had revenue of $13.37 billion during the quarter, compared to the consensus estimate of $11.55 billion. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.Deere & Company’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $6.64 earnings per share. As a group, equities analysts anticipate that Deere & Company will post 18.28 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The firm 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 dividend yield of 1.0%. The ex-dividend date of this dividend is Tuesday, June 30th. Deere & Company’s dividend payout ratio is presently 36.71%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on DE shares. Jefferies Financial Group upgraded Deere & Company from an “underperform” rating to a “hold” rating and set a $550.00 target price on the stock in a report on Wednesday, April 8th. Wall Street Zen upgraded Deere & Company from a “sell” rating to a “hold” rating in a report on Sunday, July 5th. Weiss Ratings raised shares of Deere & Company from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, May 21st. Robert W. Baird dropped their price objective on shares of Deere & Company from $580.00 to $525.00 and set a “neutral” rating on the stock in a research note on Friday, May 22nd. Finally, Citigroup boosted their target price on shares of Deere & Company from $575.00 to $610.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 14th. Fourteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $642.98.

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.