Lombard Odier Asset Management Europe Ltd Buys Shares of 22,293 Deere & Company $DE

Lombard Odier Asset Management Europe Ltd purchased a new position in Deere & Company (NYSE:DE) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 22,293 shares of the industrial products company’s stock, valued at approximately $14,141,000.

Several other large investors also recently made changes to their positions in the stock. Anchyra Partners LLC increased its holdings in shares of Deere & Company by 0.5% during the 1st quarter. Anchyra Partners LLC now owns 3,191 shares of the industrial products company’s stock valued at $1,797,000 after acquiring an additional 17 shares during the last quarter. William B. Walkup & Associates Inc. lifted its holdings in Deere & Company by 0.6% in the 1st quarter. William B. Walkup & Associates Inc. now owns 2,908 shares of the industrial products company’s stock worth $1,638,000 after purchasing an additional 17 shares during the last quarter. Advisortrust Partners LLC lifted its holdings in Deere & Company by 2.0% in the 1st quarter. Advisortrust Partners LLC now owns 914 shares of the industrial products company’s stock worth $515,000 after purchasing an additional 18 shares during the last quarter. Cerro Pacific Wealth Advisors LLC boosted its position in Deere & Company by 0.6% during the fourth quarter. Cerro Pacific Wealth Advisors LLC now owns 3,179 shares of the industrial products company’s stock worth $1,480,000 after purchasing an additional 19 shares during the period. Finally, Hazlett Burt & Watson Inc. boosted its position in Deere & Company by 2.4% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 816 shares of the industrial products company’s stock worth $379,000 after purchasing an additional 19 shares during the period. Institutional investors own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

DE has been the topic of several analyst reports. Royal Bank Of Canada reiterated an “outperform” rating and set a $752.00 price target on shares of Deere & Company in a report on Monday, August 24th. JPMorgan Chase & Co. upped their price objective on shares of Deere & Company from $570.00 to $585.00 and gave the stock a “neutral” rating in a report on Friday, August 21st. Seaport Research Partners set a $570.00 target price on shares of Deere & Company in a research note on Friday, August 14th. Truist Financial dropped their target price on shares of Deere & Company from $812.00 to $804.00 and set a “buy” rating on the stock in a report on Monday. Finally, UBS Group cut their target price on shares of Deere & Company from $732.00 to $728.00 and set a “buy” rating for the company in a research report on Friday, August 21st. Fourteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Deere & Company has an average rating of “Moderate Buy” and an average price target of $653.48.

Deere & Company Trading Up 1.3%

Deere & Company stock opened at $630.66 on Friday. The business has a 50 day moving average price of $611.59 and a two-hundred day moving average price of $593.34. The company has a quick ratio of 1.89, a current ratio of 2.10 and a debt-to-equity ratio of 1.45. The stock has a market cap of $170.24 billion, a price-to-earnings ratio of 35.04, a price-to-earnings-growth ratio of 2.57 and a beta of 0.90. Deere & Company has a 12 month low of $433.00 and a 12 month high of $674.19.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, August 20th. The industrial products company reported $5.10 EPS for the quarter, topping analysts’ consensus estimates of $4.69 by $0.41. Deere & Company had a return on equity of 18.10% and a net margin of 10.16%.The company had revenue of $12.61 billion during the quarter, compared to the consensus estimate of $10.81 billion. During the same quarter last year, the company earned $4.75 EPS. The company’s quarterly revenue was up 6.2% on a year-over-year basis. As a group, equities analysts forecast that Deere & Company will post 18.11 EPS for the current year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 9th. Investors of record on Wednesday, September 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 Wednesday, September 30th. Deere & Company’s dividend payout ratio (DPR) is 36.00%.

About Deere & Company

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.