Lombard Odier Asset Management Europe Ltd lowered its stake in shares of Deere & Company (NYSE:DE – Free Report) by 61.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund 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.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Key Capital Management INC acquired a new position in shares of Deere & Company in the fourth quarter valued at approximately $27,000. Timmons Wealth Management LLC purchased a new stake in Deere & Company in the 4th quarter worth approximately $29,000. McIlrath & Eck LLC purchased a new position in shares of Deere & Company during the 4th quarter worth $30,000. Portus Wealth Advisors LLC purchased a new position in shares of Deere & Company during the 1st quarter worth $32,000. Finally, Wealth Watch Advisors INC acquired a new stake in shares of Deere & Company during the third quarter worth $32,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.
Deere & Company Trading Up 3.0%
DE stock opened at $628.32 on Friday. The company 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 quick ratio of 1.95, a current ratio of 2.18 and a debt-to-equity ratio of 1.54. The business has a fifty day simple moving average of $585.05 and a 200-day simple moving average of $576.08. Deere & Company has a 52 week low of $433.00 and a 52 week high of $674.19.
Deere & Company Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Tuesday, June 30th will be issued 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 is Tuesday, June 30th. Deere & Company’s dividend payout ratio (DPR) is 36.71%.
Analyst Ratings Changes
A number of brokerages have recently commented on DE. Citigroup lifted their price objective on Deere & Company from $575.00 to $610.00 and gave the company a “neutral” rating in a research report on Tuesday, July 14th. Weiss Ratings raised Deere & Company from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, May 21st. Raymond James Financial lowered their price target on Deere & Company from $765.00 to $700.00 and set an “outperform” rating for the company in a report on Friday, May 22nd. Barclays upped their price objective on shares of Deere & Company from $530.00 to $640.00 and gave the company an “overweight” rating in a research note on Tuesday, March 31st. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $752.00 price objective on shares of Deere & Company in a report on Monday, June 1st. Fourteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $642.98.
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.
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