Short Interest in Deere & Company (NYSE:DE) Rises By 7.9%

Deere & Company (NYSE:DE) saw a significant increase in short interest during the month of December. As of December 31st, there was short interest totalling 5,340,000 shares, an increase of 7.9% from the December 15th total of 4,950,000 shares. Currently, 2.1% of the company’s shares are sold short. Based on an average trading volume of 1,180,000 shares, the days-to-cover ratio is presently 4.5 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Fairscale Capital LLC acquired a new stake in Deere & Company in the 2nd quarter worth approximately $26,000. Modus Advisors LLC bought a new position in shares of Deere & Company in the fourth quarter valued at approximately $32,000. Livelsberger Financial Advisory acquired a new stake in shares of Deere & Company in the third quarter worth $32,000. Centennial Bank AR boosted its holdings in shares of Deere & Company by 420.0% during the 2nd quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock worth $39,000 after buying an additional 84 shares during the period. Finally, Continuum Advisory LLC grew its stake in Deere & Company by 155.8% in the 3rd quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock valued at $43,000 after buying an additional 67 shares during the last quarter. Institutional investors own 68.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Jefferies Financial Group lowered Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 target price on the stock. in a research note on Friday, December 6th. UBS Group increased their target price on Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Morgan Stanley lifted their price target on Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. Oppenheimer increased their price objective on Deere & Company from $448.00 to $477.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. Finally, Truist Financial boosted their target price on Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Eleven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Deere & Company presently has an average rating of “Hold” and a consensus target price of $442.83.

Deere & Company Stock Up 4.0 %

NYSE:DE traded up $17.46 during trading hours on Monday, hitting $456.57. 2,315,484 shares of the company’s stock traded hands, compared to its average volume of 906,286. The stock’s fifty day moving average price is $431.48 and its two-hundred day moving average price is $402.53. The firm has a market cap of $124.00 billion, a P/E ratio of 17.83, a P/E/G ratio of 1.74 and a beta of 0.98. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.90 and a current ratio of 2.09. Deere & Company has a twelve month low of $340.20 and a twelve month high of $469.39.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, beating analysts’ consensus estimates of $3.89 by $0.66. The firm had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.20 billion. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. During the same period in the previous year, the firm posted $8.26 earnings per share. The firm’s revenue was down 32.8% on a year-over-year basis. On average, research analysts expect that Deere & Company will post 19.57 earnings per share for the current fiscal year.

Deere & Company Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Tuesday, December 31st will be issued a $1.62 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $6.48 dividend on an annualized basis and a yield of 1.42%. This is an increase from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s dividend payout ratio is currently 25.31%.

Deere & Company Company Profile

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.