Lombard Odier Asset Management Europe Ltd Boosts Stock Holdings in Deere & Company $DE

Lombard Odier Asset Management Europe Ltd raised its holdings in Deere & Company (NYSE:DE) by 75.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. 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 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of Deere & Company by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 22,583,185 shares of the industrial products company’s stock worth $10,514,053,000 after purchasing an additional 198,332 shares in the last quarter. State Street Corp increased its stake in shares of Deere & Company by 0.9% in the fourth quarter. State Street Corp now owns 10,485,949 shares of the industrial products company’s stock worth $4,898,717,000 after purchasing an additional 97,049 shares in the last quarter. Capital World Investors increased its stake in shares of Deere & Company by 53.9% in the fourth quarter. Capital World Investors now owns 9,592,004 shares of the industrial products company’s stock worth $4,465,906,000 after purchasing an additional 3,358,264 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Deere & Company by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 5,600,552 shares of the industrial products company’s stock worth $2,609,149,000 after purchasing an additional 17,269 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Deere & Company in the fourth quarter worth about $1,715,633,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Price Performance

Shares of NYSE:DE opened at $586.43 on Wednesday. The company has a 50 day moving average of $573.50 and a 200 day moving average of $550.68. The stock has a market cap of $158.30 billion, a P/E ratio of 33.23, a P/E/G ratio of 2.13 and a beta of 0.92. Deere & Company has a 12 month low of $433.00 and a 12 month high of $674.19. The company has a current ratio of 2.18, a quick ratio of 1.95 and a debt-to-equity ratio of 1.54.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, May 21st. The industrial products company reported $6.55 EPS for the quarter, topping the consensus estimate of $5.70 by $0.85. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The business had revenue of $13.37 billion during the quarter, compared to analysts’ expectations of $11.55 billion. During the same period in the previous year, the business earned $6.64 earnings per share. The firm’s revenue was up 5.4% on a year-over-year basis. As a group, sell-side analysts forecast that Deere & Company will post 18.13 EPS 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. Investors of record on Tuesday, June 30th will be given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.1%. The ex-dividend date is Tuesday, June 30th. Deere & Company’s payout ratio is presently 36.71%.

Analyst Upgrades and Downgrades

DE has been the subject of several recent research reports. JPMorgan Chase & Co. lifted 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. Barclays lifted 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. Sanford C. Bernstein lifted their price target on Deere & Company from $521.00 to $615.00 and gave the company a “market perform” rating in a research report on Friday, February 20th. Citigroup reduced their price target on Deere & Company from $625.00 to $595.00 and set a “neutral” rating for the company in a research report on Friday, May 22nd. Finally, UBS Group lifted their price target on Deere & Company from $535.00 to $775.00 and gave the company a “buy” rating in a research report on Friday, February 20th. Fourteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $639.58.

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.