Lombard Odier Asset Management Europe Ltd acquired a new position in shares of Deere & Company (NYSE:DE – Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 22,293 shares of the industrial products company’s stock, valued at approximately $14,141,000.
A number of other hedge funds have also modified their holdings of DE. BlackRock Inc. acquired a new position in shares of Deere & Company in the 2nd quarter valued at $11,763,504,000. State Street Corp increased its stake in Deere & Company by 0.9% in the 4th 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 raised its holdings in Deere & Company by 53.9% during the 4th quarter. Capital World Investors now owns 9,592,004 shares of the industrial products company’s stock worth $4,465,906,000 after buying an additional 3,358,264 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Deere & Company by 2.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,692,877 shares of the industrial products company’s stock worth $3,581,574,000 after buying an additional 158,584 shares during the period. Finally, Geode Capital Management LLC lifted its stake in Deere & Company by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 5,600,552 shares of the industrial products company’s stock valued at $2,609,149,000 after buying an additional 17,269 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several research analysts have commented on DE shares. Wall Street Zen cut shares of Deere & Company from a “hold” rating to a “sell” rating in a report on Saturday, August 22nd. Royal Bank Of Canada restated an “outperform” rating and set a $752.00 price target on shares of Deere & Company in a report on Monday, August 24th. DA Davidson upped their price target on shares of Deere & Company from $685.00 to $760.00 and gave the company a “buy” rating in a research report on Monday, August 24th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Deere & Company in a research note on Tuesday, August 18th. Finally, Truist Financial lowered their price objective on shares of Deere & Company from $812.00 to $804.00 and set a “buy” rating on the stock in a research report on Monday. Fourteen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $653.48.
Deere & Company Stock Up 1.3%
Shares of Deere & Company stock opened at $630.66 on Friday. The firm has a market cap of $170.24 billion, a price-to-earnings ratio of 35.04, a P/E/G ratio of 2.57 and a beta of 0.90. The company has a debt-to-equity ratio of 1.45, a current ratio of 2.10 and a quick ratio of 1.89. Deere & Company has a 52-week low of $433.00 and a 52-week high of $674.19. The stock has a 50-day simple moving average of $611.59 and a 200-day simple moving average of $593.34.
Deere & Company (NYSE:DE – Get Free Report) last released 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 firm had revenue of $12.61 billion for the quarter, compared to the consensus estimate of $10.81 billion. During the same quarter in the prior year, the company posted $4.75 earnings per share. The firm’s revenue was up 6.2% on a year-over-year basis. On average, equities research analysts expect that Deere & Company will post 18.11 earnings per share for the current fiscal year.
Deere & Company Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, November 9th. Shareholders 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 payout ratio is currently 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.
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