Lombard Odier Asset Management Switzerland SA Acquires Shares of 10,813 Deere & Company $DE

Lombard Odier Asset Management Switzerland SA bought a new position in Deere & Company (NYSE:DE) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 10,813 shares of the industrial products company’s stock, valued at approximately $6,091,000.

A number of other institutional investors also recently modified their holdings of DE. Anchyra Partners LLC grew its stake in Deere & Company by 0.5% in the first quarter. Anchyra Partners LLC now owns 3,191 shares of the industrial products company’s stock valued at $1,797,000 after purchasing an additional 17 shares in the last quarter. William B. Walkup & Associates Inc. raised its stake in shares of Deere & Company by 0.6% during 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 in the last quarter. Advisortrust Partners LLC raised its stake in shares of Deere & Company by 2.0% during 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 in the last quarter. Cerro Pacific Wealth Advisors LLC lifted its holdings in shares of Deere & Company by 0.6% during the 4th quarter. Cerro Pacific Wealth Advisors LLC now owns 3,179 shares of the industrial products company’s stock valued at $1,480,000 after buying an additional 19 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. lifted its holdings in shares of Deere & Company by 2.4% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 816 shares of the industrial products company’s stock valued at $379,000 after buying an additional 19 shares during the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Trading Up 3.0%

NYSE:DE opened at $628.32 on Friday. Deere & Company has a 12 month low of $433.00 and a 12 month high of $674.19. The firm 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 quick ratio of 1.95, a current ratio of 2.18 and a debt-to-equity ratio of 1.54. The company’s 50 day moving average is $585.05 and its 200-day moving average is $576.08.

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

Deere & Company Announces Dividend

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

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Wall Street Zen upgraded Deere & Company from a “sell” rating to a “hold” rating in a report on Sunday, July 5th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $752.00 target price on shares of Deere & Company in a research note on Monday, June 1st. 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. Jefferies Financial Group upgraded shares of 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. Finally, DA Davidson restated a “buy” rating and set a $685.00 price target on shares of Deere & Company in a report on Friday, July 17th. Fourteen 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 a consensus 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.